Income tax dept opposes benefits to Jane Street Singapore

Mumbai: The Indian tax office has challenged the treaty benefits claimed by the Singapore arm of the American investor group Jane Street in a draft order sent in end-March.

The Income tax (I-T) department is learnt to have invoked the ‘Multilateral Instrument-Principal Purposes Test’ (MLI-PPT) provision in the India-Singapore treaty, a person familiar with the matter told ET.…

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