Friday 16 August 2019

KYC Verification in Delhi

  • eForm DIR-3 KYC is to be filed by an individual who holds DIN and is filing his KYC details for the first time or by the DIN holder who has already filed his KYC once in eform DIR-3 KYC but wants to update his details.
  • Web service DIR-3-KYC-WEB is to be used by the DIN holder who has submitted DIR-3 KYC eform in the previous financial year and no update is required in his details.
  • The DIN of the director should be an officially approved one
  • In case of deactivated DINs, the process to reactivate DINs due to non-filing of DIR-3-KYC will begin after August 31
  • The personal mobile number and email address of the director entered in the form will be verified by a One-Time-Password (OTP)
  • In case of a foreign national, the passport number is mandatory
  • OTPs can be successfully sent to the registered mobile number and email against one form, for a maximum of 10 times in one day and twice in a span of 30 minutes. For further chances, a new form must be downloaded on the same day or the next day
  • The contact information, permanent residential address, and PAN stated in the form should match with the proof attached
  • The form should be digitally signed by a practicing Chartered Accountant or Company Secretary; and
  • The following documents must be uploaded to complete the filing process – proof of permanent address; copy of the Aadhar Card; copy of passport; proof of present address; and other optional attachments, if any.

If you are director/ partner in any Company/ LLP update your KYC, delays in KYC levy late fee.
DIR 3 KYC is newly introduced form by Ministry of Corporate Affairs whereby every Individual who is holding DIN is required to file his /her particulars in Form DIR-3 KYC every year on or before April 30 every year. For the current year, DIR-3 KYC is required to be filed on or before August 31, 2018.
The Companies (Appointment and Qualification of Directors) Fourth Amendment Rules, 2018 came into effect on July 10, 2018. (See here for the official notification.)
Announced by the Ministry of Corporate Affairs (MCA) in early July, the amended rules seek to update the federal government’s database of company directors.
Every director to whom the Director Identification Number (DIN) has been allotted on or before March 31, 2018 should file the e-form DIR-3 KYC on or before August 31, 2018. This is an authentication procedure.
Even a director who is currently disqualified, but was allotted a DIN needs to file this form.
After the last date, the government will deactivate the DIN of those directors who have not yet completed their KYC. Such persons can reactivate their DIN by filing this form and paying a penalty of US$72.91 (Rs 5,000).
In future, every individual who is allotted a DIN in India as on March 31 in a financial year will need to submit the DIR-3 KYC to the federal government on or before August 31 of the immediate next financial year. For example, if the DIN was allotted on March 31, 2019, then the DIR-3 KYC needs to be filed before April 30, 2020.
Key points to remember while filing the form are:
  • The rule 16A inserted in the Companies (Acceptance of Deposits) Rules, 2014 requires the filing of onetime return duly certified by the auditor of the company in the prescribed Form DPT-3. This disclosure, also known as Return of Deposits is an exercise wherein the company must ascertain the outstanding amount of any money received or loan which is outstanding as on 31st March 2019, and get it certified by the auditor of the company. The Form DPT-3 is exhaustive and must be filled carefully as the amounts must be disclosed in the correct column/Field in the form.

    Along with the Form the Auditors Certificate need to be attached as an attachment, wherein auditor must certify in clear terms the Value of amount outstanding to any person and outstanding amount of loan if any taken by the company. The cut-off date for taking balance is 31st March 2019 and thus the provisions of filing the Return of Deposit is applicable to all companies. One of the prerequisites to filing DPT-3 is the finalization of books account and drafting of financial statement, which is sometimes. We at Global Taxation is capable and ready to work overtime to achieve full compliance of filing the DPT-3. Let's start now, without any further delay.
    Thanks & Regards
    CA. Ashwani Rastogi
    Partner, ARJS & Associates
    M.Com, FCA, ACS, FAFD
    Chartered Accountants 

    Address- 2029, Bank St, Near Shreem Jewellers, Block 47, Beadonpura, 
    Karol Bagh, New Delhi, Delhi 110005
    Mobile Number+91-9990999281

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