Ecommerce, News

Makemytrip gets INR 28 crore Tax demand, Filed objections before IT Commissioner

One of the leading players in Indian online travel space, Makemytrip has recently received a tax demand from the I-T department of Rs 27.6 crore  for assessment year 2009-2010 as reported by ET.  In response to the notice, company has filed its objections before the commissioner of Income tax (Appeals) on May 30, 2013.

According to Makemytrip officials, already in one of the earlier years, the appellate tribunal authorities have ordered a favourable notice leading to reduction in tax demand after adjusting brought forward losses.

It must be pointed out that it was year 2010 only when Makemytrip get listed on NASDAQ with its $70 million IPO, one of the biggest in the internet space.

Makemytrip was recently in news for its mobile app exceeding one million downloads and disclosure of financial results for its fiscal 2013.

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