Bengaluru, March 7: Online Shopping giant Meesho Ltd. has received a tax demand of about Rs 1,500 crore for the assessment year 2023–24, from the Income Tax Department.

It has been imposed after an assessment order by the Income Tax Official, said sources.

The order, issued under Section 143(3) of the Income-tax Act, 1961 along with a demand notice under Section 156 dated March 5, relates to adjustments made to the income reported by the company.

Meesho, however said, it received the order and notice on March 6, in a notification to the exchanges.

The demand amounts to Rs 1,499.73 crore, including applicable interest, Meesho authorities clarified.

to reprt, the Assessment Unit of the Income Tax Department issued the order after making “certain additions/adjustments to the income reported by the Company” for the assessment year 2023–24, the company cited it during filing of exchange.

Responding to reporters, Meesho said the company is reviewing the order and plans to challenge it before due forum.

“The Company is currently evaluating the Assessment Order and does not concur with the observations and adjustments made in the Assessment Order,” the Bengaluru-based e-commerce firm said in a statement to the exchanges.