{"id":12932,"date":"2025-08-01T15:21:47","date_gmt":"2025-08-01T09:51:47","guid":{"rendered":"https:\/\/trending.niftytrader.in\/?p=12932"},"modified":"2025-08-01T17:12:20","modified_gmt":"2025-08-01T11:42:20","slug":"jane-street-income-tax-investigation-non-cooperation","status":"publish","type":"post","link":"https:\/\/www.niftytrader.in\/markets\/jane-street-income-tax-investigation-non-cooperation\/","title":{"rendered":"Jane Street Not Cooperating with I-T Investigation; Key Data Held Overseas, Say Sources"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Global trading firm Jane Street is reportedly not cooperating with the ongoing Income Tax Department investigation in India, according to sources familiar with the matter. The development follows a recent I-T survey at the Mumbai premises of Nuvama Wealth Management, a local partner of Jane Street.<\/span><\/p>\n<h2><b>Key Issues Highlighted by Authorities<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">According to sources cited by <\/span><i><span style=\"font-weight: 400;\">Moneycontrol<\/span><\/i><span style=\"font-weight: 400;\"> on August 1:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Jane Street\u2019s servers and books of accounts are located outside India, limiting access for Indian tax authorities.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The company maintains only a skeletal staff in India, who are also reportedly uncooperative with the investigation.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">This is despite legal requirements under Indian company law to maintain financial records within the country.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">&#8220;Their servers are located outside India and access is being blocked. The books of accounts are also maintained overseas. The few staff present here are not cooperating,\u201d a source said.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Officials believe it is too early to draw conclusions. They will assess the company\u2019s transaction data, books of account, and management control to determine any possible violations.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Also Read:<\/span><a href=\"https:\/\/www.niftytrader.in\/content\/adani-power-q1-results-2025-net-profit-falls-stock-split\/\"> <span style=\"font-weight: 400;\">Adani Power Q1 Profit Drops 13.5% YoY to \u20b93,385 Cr; Announces 1:5 Stock Split<\/span><\/a><\/p>\n<h2><b>Recent Background<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The probe into Jane Street gained momentum after the I-T department conducted a survey at Nuvama Wealth\u2019s Mumbai office\u2014an entity reportedly acting as Jane Street\u2019s on-ground trading partner in India.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">This follows SEBI\u2019s recent move to lift a trading ban on Jane Street after the company made a deposit as part of regulatory compliance.<\/span><\/li>\n<\/ul>\n<h3><b>Quick Neutral Analysis<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Jane Street\u2019s non-compliance with Indian record-keeping laws and limited operational footprint in India have drawn attention from tax authorities.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The firm\u2019s international data storage practices are creating barriers to the Indian probe.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The I-T department is expected to evaluate the company&#8217;s operational control and financial records before deciding the next course of action.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">This situation underscores increasing scrutiny on foreign financial entities operating in India, especially concerning tax transparency and regulatory compliance.<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">Click here to explore: <a href=\"https:\/\/www.niftytrader.in\/stocks-price\">NSE Stock Price Today<\/a><\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global trading firm Jane Street is reportedly not cooperating with the ongoing Income Tax Department investigation in India, according to sources familiar with the matter. The development follows a recent I-T survey at the Mumbai premises of Nuvama Wealth Management, a local partner of Jane Street. Key Issues Highlighted by Authorities According to sources cited [&hellip;]<\/p>\n","protected":false},"author":7,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[615],"tags":[],"ppma_author":[1384],"class_list":{"0":"post-12932","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-stock-market-news"}," _eael_post_view_count":0,"authors":[{"term_id":1384,"user_id":7,"is_guest":0,"slug":"jitesh-kanwariya","display_name":"Jitesh Kanwariya","avatar_url":{"url":"https:\/\/trending.niftytrader.in\/wp-content\/uploads\/2025\/08\/Jitesh-Kanwriya.jpeg","url2x":"https:\/\/trending.niftytrader.in\/wp-content\/uploads\/2025\/08\/Jitesh-Kanwriya.jpeg"},"0":null,"1":"","2":"","3":"","4":"","5":"","6":"","7":""}],"_links":{"self":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts\/12932","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/comments?post=12932"}],"version-history":[{"count":6,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts\/12932\/revisions"}],"predecessor-version":[{"id":12968,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts\/12932\/revisions\/12968"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/media\/12935"}],"wp:attachment":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/media?parent=12932"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/categories?post=12932"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/tags?post=12932"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/ppma_author?post=12932"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}