This is the category page of Business Laws in India which falls in the category of civil law. As India is a fast emerging economy and has a diverse business landscape, has a complex legal framework to govern the establishment, operation and dissolution of businesses. The Companies Act, 2013 is the supreme business law in India that governs the incorporation, functioning and dissolution of companies. Different types of companies are outlined in the Act which include private limited, public limited and one-person companies.
The Indian Contract Act, 1872 was enacted during the colonial era. Contract law is also a type of business law. The Indian Contract Act governs the contractual relationship between the parties and lays down rights and liabilities that arise out of such contractual relationships. It lays down guidelines which make a contract enforceable. Understanding contract law plays an important role in drafting, negotiating and enforcing business agreements. The Income Tax Act, 1961 lays down provisions for direct taxes in India and the Goods and Services Tax Act, 2017 regulates indirect taxes in India. Businesses must comply with tax laws which include, filing returns, adhering to tax rates and maintaining accounting records.
It is important for businesses to protect their intellectual property and India has robust intellectual property laws. Trade Marks Act, 1999, The Patents Act, 1970 (amended in 2005), The Copyright Act, 1957, The Designs Act, 2000, The Geographical Indication of Goods (Registration and Protection) Act, 1999 and The Protection of Plant Varieties and Farmers Rights Act, 2001 provide legal framework to secure intellectual property rights. The Insolvency and Bankruptcy Code (IBC), 2016 is the bankruptcy law of India that streamlines the insolvency resolution process for corporate entities and individuals. Businesses are subject to strict environmental regulations due to increasing environmental concerns. The Environment (Protection) Act, 1986, Water (Prevention and Control of Pollution) Act, 1974 and other laws govern environmental compliance in India.
When an employee resigns from a job, one of the important tasks they need to complete is the full and final settlement process with their employer. This process includes the payment of any pending dues such as salary, bonuses, or reimbursements, as well as the issuance of a full and final settlement letter that confirms … Read more
The Indian Partnership Act, 1932 provides legal guidelines for reconstituting a partnership firm in cases of admission of a new partner, retirement of a partner, expulsion of a partner, or insolvency of a partner. Sections 31 to 35 of the Act outline the legal consequences of such changes in the partnership. I am Supriya Gill, … Read more
KFC, also known as Kentucky Fried Chicken, is a popular fast-food restaurant chain that has gained immense popularity in India. As more and more entrepreneurs in India look to start their businesses, franchising has become a popular option due to its lower risk and access to established brands. I am Supriya Gill, a lawyer and … Read more