India Seeks to Tax Jane Street’s Profits, Economic Times Says

Indian officials recommended denying Jane Street Group LLC’s benefits under a tax treaty with Singapore, the Economic Times newspaper reported, threatening to compound the trading firm’s challenges in the South Asian nation.

The investigation unit of the income tax department recommended the invocation of general anti-avoidance rules and suggested that profits recorded by the firm in India should be taxed as capital gains, the report said citing people it didn’t identify. The team examined Jane Street’s profits in India during the period that was probed by the country’s market regulator for alleged manipulation, according to the newspaper report. ...