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MCA proposes change in process of obtaining fresh Director Identification Number
MCA has proposed to re-engineer the process of allotment of Director Identification Number (DIN) by allotting DIN to individuals only at the time of their appointment as Directors (If they do NOT possess a DIN) in companies.
DIR-3 (Application for Director Identification Number) would be applicable for the allotment of DIN to individuals in respect of existing companies only and shall be filed by the existing company in which the proposed Director is to be appointed.
Further, DINs to the proposed first Directors in respect of new companies would be mandatorily required to be applied for in SPICe forms (subject to a ceiling of 3 new DINs) only.
It has also proposed to modify DIR-3 to permit allotment of up to 2 new DINs (since SPICe provides for up to 3 new DINs) only in respect of ‘Producer Companies’. A separate notification would be issued for the same and stakeholders may plan accordingly.
To facilitate corresponding changes in LLP e-forms due to deprecation of DIR-3, it has also proposed to temporarily suspend the issuance of allotment of new DINs for Designated Partners/Partners of LLPs w.e.f 26th January 2018 till 31st March 2018.
Importance of Director Identification Number in Income Tax Notices:
Query: Can an assessment order be issued without a Document Identification Number (DIN)?
Answer: The Central Board of Direct Taxes has laid down vide Circular Number 19/2019, that, any communication issued by any income-tax authority relating to assessment, appeals, orders, statutory or otherwise, exemptions, enquiry, investigation, verification of information, penalty, prosecution, rectification, approval etc. to the assessee, must bear the unique 15 digits alphanumeric code ie the Director Identification Number. Any communication which is not in conformity with the prescribed guidelines shall be treated as invalid and shall be deemed to have never been issued
Rajput Jain & Associates solely handle all legalities of Company Law compliance, right from getting the name of the company, preparation of MOA/AOA, assisting in the mobilization of financial and banking resources, till the commencement of operations and further. we handle the following matters :
- FORMATION & REGISTRATION OF COMPANY
- E- FILING OF DOCUMENTS WITH MCA
- COMPLIANCE UNDER COMPANIES ACT, 2013
- FORMATION OF SECTION 25/SECTION 8 COMPANY (NON-PROFIT MAKING ORGANIZATION)
- GETTING CHARGE REGISTERED
- LIAISON WITH REGISTRAR OF COMPANIES & REGIONAL DIRECTORS
- GETTING DIRECTOR IDENTIFICATION NUMBER (DIN)
- MAINTENANCE OF STATUTORY RECORDS PRESCRIBED UNDER COMPANIES ACT, 2013
- WINDING UP AND LIQUIDATION OF COMPANIES.
- FILLING OF ANNUAL RETURNS AND OTHER DOCUMENTS TO THE REGISTRAR OF COMPANIES.
- Non-Compliant Companies are heavily penalized by the Ministry of Corporate Affairs. Directors have advised a cautious approach towards running the company or it may lead to prosecution as well as monetary punishment.
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Rajput Jain & Associates
