As part of updating its registry, Ministry of Corporate Affairs is conducting KYC of all Directors of all companies. Accordingly, every Director who has been allotted DIN on or before 31st March 2018 and whose DIN is in ‘Approved’ status, mandatorily required to file KYC on or before 31st August 2018.
This is a new compliance which needs to be completed on or before 30th April of each financial year hereon.
The KYC is required to be updated electronically in form DIR-3KYC, which shall be certified by a Company Secretary or Chartered Accountant.
Therefore, The professional attesting shall be equally liable to the penal provisions if the DIN holder provides any wrong information or false documents.
Late Fees: After 31st August 2018, Rs. 5000 to be charged by the Government as Penalty.
Consequence of Not Filing the KYC form: The DIN will be deactivated and person cannot act as Director which would lead to several practical and operational challenges.
Documents and Details: We will need the required information along with documents mentioned therein. You can download the requirement form by CLICKING HERE.
Company having 2 Directors – ₹ 1,770 (1500 plus GST) for 2 directors
Company having more than 2 Directors – Rs. 708 (600 plus GST )for each director.