Related Party Transactions
- Year of Publication: 2021
- ISBN: 0
Episode Duration:
110 minutes
Episode Background:
Over the years, corporates have become more and more sensitive to the ESG criteria in a business (Environment, Social and Governance). Specifically, corporate governance is becoming an important yardstick on which business transactions are being undertaken, with Financial and accounting transparency and full and honest financial reporting often being considered as key elements of good governance. More so in cases where transactions take place between people who are related. Related party transactions (‘RPT’), if left unregulated, could lead to unfair and fraudulent activities. To curb this, there is an enhanced focus on RPT, with there being a host of legislations and laws under which the term "Related Party" is defined.
The key objective of examining RPT under the various legislations is to establish whether or not the price of transactions have been influenced by the relationship of the parties and whether appropriate disclosures have been made. The taxation statutes as well as regulatory statutes stress upon RPT in different ways and lay down obligations to be fulfilled by contracting entities. Thus, it is crucial to understand the impact of various governing laws and provisions and the interplay between them.
What shall the episode cover?
Against this backdrop, Taxsutra is delighted to present to you a special episode on “Related Party Transactions” in association with Rajeshree Sabnavis & Associates. In this episode, Ms. Rajeshree Sabnavis [Founder and Mentor, Rajeshree Sabnavis & Associates], along with Ms. Aparna Khatri [Consulting Director, Rajeshree Sabnavis & Associates] have decrypted these different governing laws and provisions. The episode will inter-alia cover the following key areas:
Key Highlights
- Importance of RPT
- Coverage of RPT under the following:
- Income Tax Act, 1961
- Companies Act, 2013 (including AS and IND AS)
- SEBI - Inter play between Corporate, Income Tax and Governance Law
- Broad policy dealing with RPT
Taxsutra is considered the most credible source of tax news in the tax fraternity. What started as a fledgling start-up has now become a leading brand in the tax world not only in India, but across the globe. Taxsutra's diverse customer set includes Fortune 500 Companies, large Indian Business Groups, Global Conglomerates, Tax Judges, IRS Officers, CBDT, Tax Lawyers & thousands of tax practitioners.
Taxsutra suite of portals :
1. Real time tax news & analysis for Corporate Tax (www.taxsutra.com/dt)
2. Transfer Pricing Portal (www.taxsutra.com/tp)
3. GST and Central Indirect Taxes Portals (www.taxsutra.com/gst - www.idt.taxsutra.com)
4. "Taxsutra Database" - Powerful Online Direct Tax Reference and Search Tool (www.database.taxsutra.com)
5. LawStreetIndia (LSI) (www.lawstreetindia.com) contains sub-modules on Company law, Securities law (SEBI/SAT), FEMA, IP laws & Competition Law
6. Taxsutra Accounting Standards portal (Ind-AS) (www.greentick.taxsutra.com)
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Ratings and Reviews
Overall Rating
- Year of Publication: 2021
- ISBN: 0
Episode Duration:
110 minutes
Episode Background:
Over the years, corporates have become more and more sensitive to the ESG criteria in a business (Environment, Social and Governance). Specifically, corporate governance is becoming an important yardstick on which business transactions are being undertaken, with Financial and accounting transparency and full and honest financial reporting often being considered as key elements of good governance. More so in cases where transactions take place between people who are related. Related party transactions (‘RPT’), if left unregulated, could lead to unfair and fraudulent activities. To curb this, there is an enhanced focus on RPT, with there being a host of legislations and laws under which the term "Related Party" is defined.
The key objective of examining RPT under the various legislations is to establish whether or not the price of transactions have been influenced by the relationship of the parties and whether appropriate disclosures have been made. The taxation statutes as well as regulatory statutes stress upon RPT in different ways and lay down obligations to be fulfilled by contracting entities. Thus, it is crucial to understand the impact of various governing laws and provisions and the interplay between them.
What shall the episode cover?
Against this backdrop, Taxsutra is delighted to present to you a special episode on “Related Party Transactions” in association with Rajeshree Sabnavis & Associates. In this episode, Ms. Rajeshree Sabnavis [Founder and Mentor, Rajeshree Sabnavis & Associates], along with Ms. Aparna Khatri [Consulting Director, Rajeshree Sabnavis & Associates] have decrypted these different governing laws and provisions. The episode will inter-alia cover the following key areas:
Key Highlights
- Importance of RPT
- Coverage of RPT under the following:
- Income Tax Act, 1961
- Companies Act, 2013 (including AS and IND AS)
- SEBI - Inter play between Corporate, Income Tax and Governance Law
- Broad policy dealing with RPT
Taxsutra is considered the most credible source of tax news in the tax fraternity. What started as a fledgling start-up has now become a leading brand in the tax world not only in India, but across the globe. Taxsutra's diverse customer set includes Fortune 500 Companies, large Indian Business Groups, Global Conglomerates, Tax Judges, IRS Officers, CBDT, Tax Lawyers & thousands of tax practitioners.
Taxsutra suite of portals :
1. Real time tax news & analysis for Corporate Tax (www.taxsutra.com/dt)
2. Transfer Pricing Portal (www.taxsutra.com/tp)
3. GST and Central Indirect Taxes Portals (www.taxsutra.com/gst - www.idt.taxsutra.com)
4. "Taxsutra Database" - Powerful Online Direct Tax Reference and Search Tool (www.database.taxsutra.com)
5. LawStreetIndia (LSI) (www.lawstreetindia.com) contains sub-modules on Company law, Securities law (SEBI/SAT), FEMA, IP laws & Competition Law
6. Taxsutra Accounting Standards portal (Ind-AS) (www.greentick.taxsutra.com)
