Legal environment of Business in India

 Legal environment of Business in India

This refers to set of laws, regulations, which influence the business organizations and their operations. Every business organization has to obey, and work within the framework of the law. The important legislations that concern the business enterprises include: 

  1. Companies Act, 1956
  2. Foreign Exchange Management Act, 1999
  3. The Factories Act, 1948
  4. Industrial Disputes Act, 1972
  5. Payment of Gratuity Act, 1972
  6. Industries (Development and Regulation) Act, 1951
  7. Prevention of Food Adulteration Act, 1954
  8. Essential Commodities Act, 2002
  9. The Standards of Weights and Measures Act, 1956
  10. Monopolies and Restrictive Trade Practices Act, 1969
  11. Trade Marks Act, 1999
  12. Bureau of Indian Standards Act, 1986
  13. Consumer Protection Act, 1986
  14. Environment Protection Act, 1986
  15. Competition Act, 2002
  16. Foreign Exchange Regulation Act 1973
  17. Indian Partnership Act, 1932
  18. Income Tax Act, 1961
  19. Insurance Act, 1938
  20. Insurance Regulatory and Development Authority (General Insurance – Reinsurance) Regulation Act, 2000
  21. Indian contract Act, 1872
  22. Banking Regulation Act, 1949
  23. Reserve Bank of India Act, 1934
  24. Sales goods Act, 1930
  25. Export-Import Bank Act, 1981

International Economic Institutions

  1. International Monetary Fund (IMF) 
  2. International Bank for Reconstruction and Development (IBRD) 
  3. United Nations Conference on Trade and Development (UNCTAD)
  4. World Trade Organisation (WTO) 
  5. Asian Development Bank (ADB) 
  6. International Development Association (IDA) 
  7. International Finance Corporation (IFC) 
  8. The Multilateral Investment Guarantee Agency (MIGA)

Financial Institutions in India

  1. Industrial Finance Corporation of India (IFCI)
  2. Industrial Development Bank of India (IDBI)
  3. Export-Import Bank (EXIM)
  4. Industrial Investment bank of India (IIBI)
  5. Tourism Finance Corporation of India (TFCI)
  6. Infrastructure Development Finance Company (IDFC)
  7. National Bank for Agriculture and Rural Development (NABARD)
  8. National Housing Bank (NHB)
  9. Small Industries Development Bank of India (SIDBI)
Link for quiz

Comments

Post a Comment

Popular posts from this blog

Challenges faced by CMA students & Smart strategies to succeed in Exams

What is CMA?   The Cost and Management Accountant (CMA) is a professional certification in management accounting and finance. The certification indicates that the individual is knowledgeable in the areas of financial planning, analysis, control, decision support, and professional ethics. There are numerous professional bodies worldwide that offer management accounting professional certifications. CMA (India) certification is issued by the Institute of Cost Accountants of India (ICMAI).  Strategic professionals known as Cost Management Accountants (CMAs) use their analytical skills to improve the performance and prosperity of the companies they work for. They usually operate in a variety of industries, such as government organizations, non-profits, and corporations. With titles like financial analyst, cost accountant, corporate controller, financial planner, or Chief Financial Officer (CFO), CMAs frequently hold important leadership roles. They actively participate in form...
Read more

TDS Rate Chart for FY 2025-26 AY 2026-27

  TDS Rate Chart for FY 2025-26 AY 2026-27 TDS (Tax Deducted at Source) rate chart is a comprehensive table that outlines the applicable tax deduction rates for various types of payments under the Income Tax Act, 1961. This TDS percentage chart specifies the percentage of tax to be deducted by the payer before making payments such as salaries, interest, rent, professional fees, and commissions. The TDS slab rates varies based on the nature of the transaction and the recipient’s category, such as individuals, companies, or non-residents. Updated annually in the Union Budget, the TDS rate chart helps taxpayers and deductors comply with tax regulations and avoid penalties for non-compliance.   Budget 2025: Key TDS Changes Effective from April 1, 2025 The Budget 2025 has revised threshold limits for TDS, ensuring that smaller transactions remain exempt from tax deduction, thereby reducing the compliance burden. These revised limits, effective fro...
Read more

Top 10 Jobs After BCom — Your Career Roadmap

 1. Chartered Accountant (CA) — Avg salary ₹7–25 LPA after qualification 2. Financial Analyst — Analyse markets, salary ₹4–15 LPA 3. Cost & Management Accountant (CMA) — Perfect for manufacturing firms 4. Company Secretary (CS) — Corporate legal compliance expert 5. Investment Banker — Work with stocks, mergers, and acquisitions 6. Tax Consultant — High demand in GST era, salary ₹3–10 LPA 7. Actuary — Maths + Finance = ₹10–30 LPA salary potential 8. Data Analyst — Trending role combining Excel/SQL with commerce 9. Stock Broker / Trader — Work in NSE/BSE, SEBI regulated 10. Entrepreneur — BCom gives the perfect base to start your own business!
Read more