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Global Business News

The Economic Times

Global Business / The Economic Times

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Income tax dept opposes benefits to Jane Street Singapore

India's tax office has challenged treaty benefits claimed by Jane Street's Singapore arm, suspecting 8000 crore in escaped income. The department invoked the MLI-Principal Purposes Test, questioning if obtaining treaty benefits was a primary purpose of the arrangement. This move could impact tax exemptions on derivative profits for Singapore-based FPIs.

3 Apr 2026 12:46 am