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What is an Affiliate and How Does it Work?

by | Jun 2, 2023 | FinTech Articles | 0 comments

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Important Keywords: affiliate, relationship, ownership, e-commerce, regulatory authorities.

Introduction:

It is a relationship between two or more companies, where one company owns or controls the other. The companies can be subsidiaries of a parent company. The degree of ownership determines whether a company is an or not.

Understanding Affiliate:

It is a company related to another company. This can be due to a minority stake or sister company relationship. In e-commerce, a company selling goods or services on a platform is said to be an affiliate of that platform. Reporting to regulatory authorities is required under various laws.

Key Points:

  • It is a relationship between two or more companies
  • Degree of ownership determines status
  • It reports to regulatory authorities under various laws
  • E-commerce companies have Its selling on their platform

Conclusion:

Its relationships are common in business and can carry business interests. E-commerce platforms have its selling on their platform. Reporting to regulatory authorities is required under various laws.

Read More: Notification No. 08/2022 – Union Territory Tax (Rate): Seeks to amend notification No. 3/2017- Union Territory Tax (Rate)

Official Income Tax Return filing website: https://www.incometax.gov.in/iec/foportal/
Official GST common portal website: https://www.gst.gov.in/

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