Related Party Transaction
A transaction between the company and a party connected to it by ownership, control or significant influence — subject to specific identification, approval and disclosure requirements.
Related terms
- Arm's Length Price
The price that would be charged in a comparable transaction between unrelated parties — the benchmark against which a related-party transaction's pricing is assessed.
- Common Control Entities
Entities ultimately controlled by the same person or group, even where no direct shareholding link exists between them — a frequent source of undisclosed related-party relationships.
- Ind AS 24
Governs related party disclosures — identifying related parties and the information required about transactions and outstanding balances with them.
- QRMP Scheme
Quarterly Return Monthly Payment — a GST compliance scheme allowing small taxpayers to file returns quarterly while still paying tax monthly.
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231 terms in total, or go deeper with working procedures and worked examples in the resource library.