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Following SEBI's allegations of market manipulation against Jane Street, the Income Tax department is considering a probe into potential violations. The investigation will focus on General Anti-Avoidance Rules (GAAR) and permanent establishment norms, examining the firm's structure involving Indian and offshore entities. Authorities suspect profits booked in Singapore may be reattributed to India, leading to significant tax implications.
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The US president has reset the tariffs clock again, leaving Asia's export-driven economies in limbo.
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Tata Consultancy Services missed analyst expectations for the June quarter. This was due to the BSNL deal ending. Net profit grew, helped by a one-time gain. Project ramp-ups faced delays. New deal wins increased to $9.4 billion. Headcount rose, but attrition also increased. Revenue fell slightly. Net profit increased due to one-time income.
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