Important Things while filing e-Form DIR-3 KYC

Important Things while filing e-Form DIR-3 KYC

Director identification number (DIN) refers to a unique identification number allotted to an individual willing to be a director or an existing director of a company. DIN is obtained by filing an application in eForm DIR-3, which was initially a single-time process to be carried out by the one who wishes to become a director in one or more than one company.

However, now with an update in MCA’s registry, it becomes mandatory for all directors having DIN to submit their KYC details in e-Form DIR 3 KYC every year.

Who Needs to File e-Form DIR 3 KYC?

According to the recent announcements by MCA, directors are required to submit their KYC details to the MCA if they meet the below-mentioned conditions:

  1. Every Director who has been allotted DIN on or before the end of the financial year
  1. DIN is in approved status

Note: KYC is mandatory for the disqualified directors also.


Things to keep in mind while filing e-Form DIR-3 KYC

  1. Director will have to provide their mobile number and email id while filing this e-form. This information will be verified by a One-Time-Password (OTP)
  1. Directors will have to use their digital signatures for filing this e-Form
  1. Directors will have to ensure that e-Form is certified by a Chartered Accountant or Cost Accountant or Company Secretary, practising the profession

Due Date and Penalty

As per the provisions of Rule 12A of the Companies (Appointment and Qualification of Directors) Rules, 2014, every individual who is allotted DIN as of 31st March of a financial year must submit his KYC on or before 30th September of the immediately following financial year.

If the DIN holder does not file his annual KYC within the due date of each financial year, such DIN shall be marked as ‘Deactivated due to non-filing of DIR-3 KYC’ and shall remain in such Deactivated status until KYC is done with a fee of Rs.5000.


 

Created & Posted by Pooja

Income Tax Expert at TAXAJ

 

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