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.
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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…
