Related Party Transactions – Harmonising and Reporting Under Various Statues
– By CA Niketa Agarwal
The “Related Party Transactions” (RPTs) are under heightened watch of various regulators and tax authorities not just in India but globally. The potential to misuse RPTs is a cause for concern all over the world to both regulators as well as investors as has been evident from various scams and frauds in India and globally.
The reporting and compliance under various different laws poses a challenge as definitions and compliance differ under different statutes and regulations. This article examines the requirements under the different statutes which the companies needs to bear in mind for related party transactions.