Meesho Shares Crash 10% on Rs 1,500 Cr Tax Demand for FY24

• Meesho shares plummeted 10% after receiving an income tax demand of nearly Rs 1,500 crore for Assessment Year 2023-24.
• The e-commerce platform disclosed the demand, totaling Rs 1,499.73 crore including interest, in a stock exchange filing on March 7.
• The demand stems from an assessment order under Section 143(3) and a demand notice under Section 156 of the Income Tax Act.
• Meesho stated its intention to challenge the order through appropriate legal remedies.