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Compulsory KYC update for All Directors

Introduction

This is to to inform you all that in order to remove the fraudulent activities being taken place in Corporate Sectors on regular basis and to have the proper proof of their identity and address, Government if India has come up with the solution for that issue.

They have now decided to update the data which includes their identity proof and address proof of all the directors through the Form DIR-3KYC (Know Your Clients).

What is DIR-3KYC ?

DIR-3KYC is an electronic form would have to be filed by all Directors who have been allotted a DIN on or before 31st March 2018. The date for allotment of DIN can be ascertained from the DIN allotment letter.

The DIN eKYC form must be filed using the Directors own DSC (Digital Signature) and should be certified by a practicing Professional like Company Secretary , Chartered Accountant, or Cost Accountant.

What are the documents required for filing  Form DIR-3KYC ?

Here is the list of documents which you need to attach with the Form:

(i)                  PAN Copy

(ii)                Aadhar Card

(iii)               Permanent Address Proof (Bank Statement / Electricity Bill / Mobile Bill or Telephone Bill which should not be older then 2 months )

(iv)              Present Address Proof, if any (Bank Statement / Electricity Bill / Mobile Bill or Telephone Bill which should not be older then 2 months )

(v)                Valid Mobile No. Valid E-mail id

Due-date for DIR-3KYC ?

All the Directors needs to get their data updated through DIR-3KYC by 31st August, 2018.

What would happen if we don’t file the Form DIR-3KYC ?

The DIN will be activated with effect from Sep, 01st 2018 and can only be revived after paying the penalty of Rs. 5,000/-

Is there any penalty for non-filing of Form DIR-3KYC ?

Yes, there is a penalty of Rs. 5,000/- if you file the Form DIR-3KYC after 31st Aug, 2018.


Regards

CS Ranjeet Gola (writer is a Company Secretary in practice and also a founder of onlinecompany.co.in)

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