<h1>Income Tax probes broking firms after US trading firm fined for market manipulation under Securities Rules</h1> The Income Tax Department conducted a survey at several broking firms as part of a tax evasion investigation linked to a US-based proprietary trading firm accused of market manipulation. This follows a regulatory authority's interim order finding the firm guilty of manipulating market indices by placing simultaneous bets in cash, futures, and options markets to generate substantial profits. The authority barred the firm from trading and impounded over Rs 4,843 crore in gains, noting a net profit of Rs 36,671 crore during the investigation period from January 2023 to May 2025. Subsequently, the firm was allowed to resume trading after depositing the impounded amount into an escrow account.