JKB Financial Services Ltd.

As on : 09-Mar-2026

Hot Pursuit
09-Mar-2026 11:15

Meesho tumbles after I-T Dept issues Rs 1,500 tax demand notice

The Assessment Unit of Income Tax Department has issued assessment order under Section 143(3) of the Income-tax Act, 1961 along with a demand notice under section 156 of the Income-tax Act, 1961 for AY 2023-2024.

The company said it is currently evaluating the assessment order and does not concur with the observations and adjustments made by the tax authorities. It believes it has adequate legal and factual grounds to challenge the order and is taking necessary steps to safeguard its interests.

The company added that the assessment order along with the demand notice are not expected to have any major adverse impact on the company's financial position, operations, or other activities.

Meesho is India's largest e-commerce platform by annual transacting users and placed orders. The company's consolidated net loss widened to Rs 490.68 crore in Q3 FY26, compared with a loss of Rs 37.43 crore in Q3 FY25. Net sales rose 31.32% to Rs 3,517.60 crore in Q3 FY26 from Rs 2,678.64 crore in the year-ago quarter.

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