11 August 2009
1. Sir what is the penalty under companies act for not disclosing the shareholder details to ROC? 2. Is there any provision under the income tax act requiring to disclose the details of shareholders for every financial year? 3. Can shares be allotted for cash by a company? If yes is there any limit upto which shares can be allotted for cash?
As per section 159 shareholder details required to be submitted to ROC through filing Annual Return with in 60 days from the date of AGM of the Company.
For penalty for non filing of Annual Return refer section 162 of the companies act, 1956.
CAclubindia
