Next Article
Income Tax Department considers probe into Jane Street
The Income Tax Department might launch a probe into global trading giant Jane Street, following SEBI's accusation that the company manipulated Indian stock markets.
SEBI says Jane Street's India office handled trades, but most profits ended up with their branches in Singapore and Hong Kong.
Jane Street could face back taxes, penalties
Jane Street's setup is raising eyebrows because it could break Indian tax rules meant to stop companies from dodging taxes by shifting profits overseas.
If found guilty under GAAR (General Anti-Avoidance Rules), Jane Street could face hefty back taxes and penalties, since their structure may lack the "commercial substance" required by law.