Articles by G S Rao

Stamp duty on transfer of shares

Posted by G S Rao 20 August 2012 171837 Views

Introduction As per Indian Stamp Act,1899, Stamp duty is payable on instruments and an instrument has been defined as any document

Critical study of Disclosure of Interest by a Director u/s 299 of Companies Act

Posted by G S Rao 14 June 2012 72323 Views

Introduction: Directors are appointed by the shareholders of the company and they are trustees of shareholders. As such they are in a fiduciary position and can not

Investor Education and Protection Fund

Posted by G S Rao 01 June 2012 84998 Views

Investor Education and Protection Fund (Uploading of information regarding unpaid and unclaimed amounts lying with companies) Rules, 2012 Introduction: Vide notification no.G.S.R. 352(E) Central Government published the Investor Education and Pr

Office or Place of Profit?

Posted by G S Rao 23 May 2012 94030 Views

What is an office or Place of Profit? Introduction: The Companies Act, 1956 is one of the most voluminous Legislation. It contains 658 sections, 14 schedules and several forms for meeting the compliance. Although several Companies bills have bee

Right of members to Copies of Balance sheet, etc u/s 219

Posted by G S Rao 14 May 2012 140984 Views

Introduction Section 219 of the Companies Act, 1956 gives an important right, to members, trustees of debenture holders, certain other persons although they are not members, to receive copies of balance sheet and other documents legally required t

Right To Inspect Members Register, Annual Returns Etc

Posted by G S Rao 02 May 2012 76220 Views

Introduction There are several sections in the Companies Act, 1956 which give rights to members, debenture holders, creditors and directors. Many are ignorant of these rights as they are not appearing at one place but are appearing in different S

How to face Inspection u/s 209-A of the Companies Act,1956?

Posted by G S Rao 28 April 2012 20828 Views

Introduction I am overwhelmed by the response of the readers to my previous articles on Inspection and Investigation. It motivated me to continue the series. I felt that it would be more appropriate, if I cover the preparatory steps to face inspec

Inspection Books of Account and Investigation

Posted by G S Rao 16 April 2012 35756 Views

Introduction In my previous article titled Books of account under Section 209 of the Companies Act, 1956 a detailed analysis of Section 209 was made. As a sequel, I intend to cover the provisions of Section 209-A which deals with i

Books of Account u/s 209 of the Companies Act,1956

Posted by G S Rao 05 April 2012 135635 Views

Introduction Section 209 is one of the most important sections in the Companies Act, 1956. This section deals with the requirements of maintenance of books of accounts and penalties for non compliance. A detailed analysis of the provisions of Sect

TDS on Remuneration Paid to Directors

Posted by G S Rao 24 March 2012 409184 Views

TDS ON REMUNERATION PAID TO DIRECTORS u/s 194J(1)(ba) of INCOME TAX ACT,1961 Budget 2012 inserted a New clause 1 (ba) in Section 194 J which mandates TDS @ 10 % on any remuneration paid to Directors of a company. This clause will be effective