New Online filing eForm DIR-3 eKYC Directors for FY 2019-20


New Online filing eForm DIR-3 eKYC Directors for FY 2019-20

www.carajput.com; MCA KYC Form

www.carajput.com; MCA KYC Form

Warning for registration of eKYC Directors for FY 2019-20

The last filing deadline for eKYC Directors for FY 2019-20 is 30 September 2020.

Last modification as of 31 March 2020 The holders of the DIN labeled ‘Deactivated’ shall have an extended period of time until 30 September 2020 for the submission of DIR-3KYC / DIR-3 KYC-Web without payment of Rs 5,000. Companies classified as “ACTIVE non-compliant” were granted an extension of time until 30 September 2020 to file eForm ACTIVE without a fee of Rs 10,000.

Who wants to sign the DIR-3 KYC eForm?

As per the recent announcement by MCA, any director who has been assigned a DIN by or on 31 March 2020 and whose DIN is in approved status will have to send his KYC data to the MCA. In fact, this process is also compulsory for disqualified directors.

What are the requirements for filing the DIR-3 KYC eForm?

  • Before filing an eForm, each Manager will have a separate personal mobile number and e-mail address. This number and e-mail address will be verified by an OTP (One-Time Password).
  • The second check here is that the director has to use his own digital signature before filing this eForm.
  • In addition, the third test to ensure that correct and relevant information is given would be that the eForm is accepted by a professional Chartered Accountant or Business Manager or Cost and Management Accountant.

eForm DIR-3 KYC – Deployment by KYC Administrators

Which are the thresholds involved in filing the DIR-3 KYC eForm?

  • Each Manager would need to have a separate personal mobile number and e-mail address before filing the eForm. This number and email address will be checked by an OTP (One-Time Password).
  • The second test here will be that the director needs to use his own digital signature before filing this eForm.
  • In fact, the third check to ensure that accurate and appropriate information is given should be that the eForm will be approved by a qualified Chartered Accountant or Company Secretary or Cost and Management Accountant.

DIR-3 KYC – Application for KYC of Directors

DIR-3 KYC Filing Guidance While filing your DIR 3-KYC form, you would need the following documents: • Nationality and Citizenship records, such as gender and date of birth.

Permanent Account Number (PAN) • Voters I d Card • Passport (mandatory if a foreign national holds a DIN) • Driving License • Aadhaar Card • Personal Phone • Personal Email Address • Home address.

DIR-3 KYC Filing Guide When filing your DIR 3-KYC form, you will require the following documents: • Ethnicity and Citizenship information such as gender and date of birth.

  • Copy of PAN
  • Copy of Voters card
  • Copy of Passport (Compulsory for a foreign national owns a DIN)
  • Copy of Driving License
  • Copy of Aadhaar Card
  • Copy of Mobile No
  • Copy of Email Address
  • Copy of Residential address.

In addition to the above, please keep the following items ready:

  1. Digital signature of the person filing of the application (applicant).
  2. Apostolic tradition of the documents described above by Practising Professionals such as CA, CS or Cost Accountants. In the case of foreign citizens, the documents must be approved by the specified authority.
  3. A declaration must be made by the applicant properly approved by the practicing professionals.

Attachments to be made The individual must submit the following documents. Until downloading, making sure to get these forms certified.

We can help in the matter of below with reference to IBC 2016

·        Corporate Insolvency Resolution Process

·        Claim Verification Team

·        Front End Team for Taking Over Control and Custody of Corporate Debtor

·        Corporate Insolvency Resolution Process

·        Team Legal Team

·        Finance and Accounts Team

·        Liquidation Process Team Resolution Plan

·        Facilitator Team Asset Sale Team

·        Human Resources Team

·        Information Technology Team

·        Support Services To Insolvency Professionals, Who Are Partners of

Post by Rajput Jain & Associates

Disclaimer: The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances; before making any decisions do consult your Professional / tax advisor. For misrepresentation or interpretation of act or rules Author does not take any responsibility. Neither the author nor the firm accepts any liability for the loss or damage of any kind arising out of information in this document or for any action taken in reliance there on. carajput.com is committed to helping entrepreneurs and small business owners to start, manage and grow their business with peace of mind. Our goal is to support the entrepreneur on legal and regulatory requirements and to be a partner throughout the entire business life cycle, offering support to the company at every stage to ensure that it is compliant and consistently growing. Hope the information will assist you in your Professional endeavors. For query or help, contact: info@carajput.com or call at 09811322785/4 9555 5555 480)

Due Date for Annual Return OF COMPANY

www.carajput.com; due-date-for-annual-return

www.carajput.com; due-date-for-annual-return

All companies registered in India must file annual return each year, irrespective of business turnover or activity. Annual return must be filed in Form MGT-7 and Form AOC-4 is also filed along with the annual return. In this article, we look at the due date for annual return for a company.

Filing Annual Return

A company’s annual return has to be filed with the MCA within 60 days from the date of Annual General Meeting. All companies are required to conduct an Annual General Meeting within 6 months of closing of financial year. Hence, the last date for conducting Annual General Meeting would be 30th September and the due date for filing annual return would be 29th November.

If a company cannot hold Annual General Meeting in any year, the annual return still has to be filed within 60 days from the date on which Annual General Meeting should have been held together with the statement specifying the reasons for not holding the Annual General Meeting. Hence, a company cannot excuse itself from filing annual return on the plea of the Annual General Meeting not having been held.

Statutory Fee for Filing Annual Return

Statutory fee for filing is based on the authorized capital of the Company as follows:

For submitting, filing, registering or recording any document Rs. by this Act required or authorised to be submitted, filed, registered or recorded Rs.
In respect of a company having a nominal share capital of up to  Rs. 1,00,000  Rs.200
In respect of a company having a nominal share capital of Rs. 1,00,000 or more but less than Rs.5,00,000.  Rs.300
In respect of a company having a nominal share capital of Rs. 5,00,000 or more but less than Rs. 25,00,000 Rs.400
In respect of a company having a nominal share capital of Rs.25,00,000 or more but less than Rs. 1 crore or more. Rs.500
In respect of a company having a nominal share capital of Rs. 1 crore or more. Rs.600

Penalty for Late Filing Annual Return

In case a company files its annual return after 60 days of date of Annual General Meeting or after 29th November, a penalty would be applicable date of the event and date of filing. Further, the Ministry of Corporate Affairs has proposed to increase the penalty for late filing of annual return multi-fold as follows from the year 2018:

Number of Days Default Current Penalty Proposed Penalty
Up to 15 days Rs.400 Upto Rs.3,000
More than 15 days and up to 30 days  Rs.800 Upto Rs.6,000
More than 30 days and up to 60 days Rs.1600 Upto Rs.12,000
More than 60 days and up to 90 days  Rs.2400 Upto Rs.18,000
More than 90 days and up to 180 days Rs.4000 Upto Rs.36,000
More than 180 days and up to 270 days  Rs.4800 Upto Rs.54,000
More than 270 days Rs.100 per day penalty Rs.200 per day penalty

Note: The above chart has been worked for a company with a capital of share capital of Rs.1,00,000. The new penalty proposed by the MCA from the year 2018 for late filing of annual return is Rs.100 per day per filing. Since, a company will have to file MGT-7 and AOC-4, the penalty for day of default would be Rs.200.

The MCA announcement about the upcoming changes to the penalty structure has been published on the website as under:

“It is proposed to amend shortly, the Companies (Registration Offices and Fees) Rules 2014 to levy additional fee @Rs.100 per day for filings under Section 92 (Annual Return) or 137 (Annual Financial Statement) of the Companies Act, 2013. Once notified, the additional fee @Rs.100 per day (beyond the normal date of filing) shall become payable in respect of 23AC,23ACA,23AC XBRL,23ACA XBRL,20B,21A, MGT-7, AoC-4,AoC-4 XBRL and AoC-4 CFS. Stakeholders are advised to take note and plan accordingly.”

Know more about the increase in penalty for late filing annual return.

Filing Annual Return

Rajput Jain & Associates provides an easy and online process for Entrepreneurs to file their annual return and income tax return along with financial statement and board meeting documents preparation at just Rs.19899. Talk to an Rajput Jain & Associates  Advisor to know more and file Annual Return for your company easily.

Annual Compliance Package for Private Limited Companies Starting @ just 5k

Rajput Jain & Associates offers this unique package starting at an affordable price for the Chartered Accountants who are focussed on taxation aspects rather than on secretarial compliances. This package is specifically offered to the Chartered Accountants who want to outsource the Annual Filing and other secretarial work of their clients. In today’s world it is important to form partnerships in order to expand your reach and attract more clients. Outsourcing your secretarial functions to us will help you to free up time to focus on your core professional services.

We help you meet all the necessary compliance so that you can focus on your core professional activities without worrying about any legal and secretarial hassles. We take care of your compliances and our scope of annual filing services include:

  • Drafting secretarial documents including board report, minutes of AGM, Notices, etc.
  • Providing necessary certifications where required.
  • Filing of ROC returns i.e. AOC-4, MGT-7 and ADT-1.

What we require from your end:

  • Certified Financial Statement of the Client Company.
  • Certified Auditor Report.
  • Any other information regarding the directorship, shareholding, charges or any other material information about the company.

To know more about the scope of service you can contact us on the Email Ids and Numbers given below. We look forward to serving you.For query or help, contact:   info@carajput.com or call at 09811322785/4 9555 5555 480)

Disclaimer: The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances; before making any decisions do consult your Professional / tax advisor. For misrepresentation or interpretation of act or rules Author does not take any responsibility. Neither the author nor the firm accepts any liability for the loss or damage of any kind arising out of information in this document or for any action taken in reliance there on. carajput.com is committed to helping entrepreneurs and small business owners to start, manage and grow their business with peace of mind. Our goal is to support the entrepreneur on legal and regulatory requirements and to be a partner throughout the entire business life cycle, offering support to the company at every stage to ensure that it is compliant and consistently growing. Hope the information will assist you in your Professional endeavors. For query or help, contact: info@carajput.com or call at 09811322785/4 9555 5555 480)

CORPORATE AND PROFESSIONAL UPDATE August 26, 2017

CORPORATE AND PROFESSIONAL UPDATE August 26, 2017

Image result for corporate images hdDirect Tax:

  • Delhi ITAT upholds assessee’s Resale Price Method (RPM) over TPO’s TNMM for AYs 2003-04 to 2005-06 for benchmarking purchases of finished goods from AE for resale, holds that RPM is most appropriate method absent any value addition by assessee[TS-661-ITAT-2017(DEL) -TP]
  • The income tax department is open to lowering the withholding tax rate for foreign companies which have income in India, says CBDT chairman Sushil Chandra.
  • Supreme Court ruling the right to privacy as a fundamental right under the Constitution has triggered uncertainty over the mandatory linking of Aadhaar for stock trading brokers said they will now wait for the SC judgment that will test the validity of Aadhaar.

Indirect Tax:

  • CBEC made amendment in the Integrated Goods and Services Tax Act by way of notification no 8/2017- Integrated Tax (Rate), dated the 28th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 683(E), dated the 28th June, 2017. Vide notification no 354/173/2017 –TRU, dated 22th August 2017.

GST Update

  • GST Authorities have issued clarification w.r.t selling of space for advertisement in print media on the basis of the queries being raised regarding GST applicability on the same. The rate is @ 5%.
  • IT Minister launched a GST filing and reconciliation solution product named ‘XaTTaX’. The product, developed by Sailotech, simplifies the filing of GST returns, claims for refund, raising invoices with comfort from home or workplace.

FAQ on GST

Query: What is the time limit beyond which the inputs/capital goods sent for job work shall be treated as supply?

Answer:The time limit prescribed for return of goods sent to job work under the exemption route is 1 year of being sent out (for inputs) and 3 years of being sent out (for capital goods). Therefore, if the inputs/ capital goods are returned to the principal after 1 year/ 3 years (as applicable), then such return of goods to the principal after the said period would be treated as ‘supply’. This time limit is not applicable to moulds and dies, jigs, fixtures, and tools

Corporate Law:

  • MCA made companies (Arrests in connection with Investigation by serious Fraud Investigation Office) Rules, 2017 which shall come into force on the date of their publication in the Official Gazette.Vide notification no ur2l20r3 cL-V, dated 24th august 2017
  • MCA amend the National Company Law Appellate Tribunal Rules, 2O16. These rules may be called the National Company Law Appellate Tribunal (Amendment) Rules’ 2O17 which shall come into force on the date of their publication in the official Gazette. Vide notification no 1/30/2013-CL-V, dated 23th August 2017
  • The Cabinet has approved a framework to speed up mergers of public sector banks, the first of which could take place by March. The mergers will not involve any cash but only share swaps.

Quotes of the day

“Plant your garden and decorate your own soul, instead of waiting for someone to bring you flowers.”

We look forward for your valuable comment www.carajput.com

FOR FURTHER QUERIES CONTACT US:

W: www.carajput.com   E: info@carajput.com T: 011-233-4-3333, 9-555-555-480

Disclaimer: The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances; before making any decisions do consult your Professional / tax advisor. For misrepresentation or interpretation of act or rules Author does not take any responsibility. Neither the author nor the firm accepts any liability for the loss or damage of any kind arising out of information in this document or for any action taken in reliance there on. carajput.com is committed to helping entrepreneurs and small business owners to start, manage and grow their business with peace of mind. Our goal is to support the entrepreneur on legal and regulatory requirements and to be a partner throughout the entire business life cycle, offering support to the company at every stage to ensure that it is compliant and consistently growing. Hope the information will assist you in your Professional endeavors. For query or help, contact: info@carajput.com or call at 09811322785/4 9555 5555 480)