Tax dept builds case on Jane Street: Authorities seek to determine actual 'decision-makers'; summon Jane's Indian arm auditor EY

Indian tax authorities are investigating Jane Street's Indian subsidiary, suspecting tax avoidance through its operations. They are scrutinizing the roles of the Indian entity versus its Singapore and Hong Kong counterparts, focusing on potential treaty benefit misuse. EY, Jane Street's auditor, and local staff are being questioned to determine the decision-making location and potential collaboration for tax evasion.