MCA vide General Circular 09/2018 dated 05th October, 2018, extended the due date for filing MGT-7, AOC-4 and AOC (CFS) AOC-4 XBRL without payment of additional fees up-to 31st December,2018 for companies in the State of Kerala.
To see the circular click the link below:
Ministry of Corporate Affairs vide notification dated 05-07-2018 amended Companies (Registration offices and fees) Rules, 2014, prescribes Fees/Late fee/Penalty for delay in filing Form DIR-3 KYC, which are as follows:
i) Fee Payable till 30th April of every financial year in respect of e-form DIR-3 KYC as at 31st March of the immediately preceding previous year: NIL
ii) Fee Payable after above due date: Rs.5000/-
For the Current Financial year no fee will be chargeable till 30th August, 2018 and fee of Rs.5000/- will be payable from 01st September, 2018.
MCA had earlier by Companies (Appointment and Qualification of Directors) fourth Amendment Rules, 2018, inserted Rule 12A which require every every individual who has been allotted a Director Identification Number (DIN) as on 31st March of a financial year as per these rules shall, submit e-form DIR-3-KYC to the Central Government on or before 30th April of immediate next financial year. Rule 11 is also amended which empowers the Central Government or Regional Director (Northern Region), or any officer authorised by the Central Government or Regional Director (Northern Region) shall, deactivate the Director Identification Number (DIN), of an individual who does not intimate his particulars in e-form DIR-3-KYC within stipulated time in accordance with rule 12A:
As part of updating its registry, MCA would be conducting KYC of all Directors of all companies annually through a new eform viz. DIR-3 KYC to be notified and deployed shortly. The details are as follows:
Who has to file DIR-3 KYC?
Every Director who has been allotted DIN on or before 31st March, 2018 and whose DIN is in ‘Approved’ status, would be mandatorily required to file form DIR-3 KYC.
What is the last date for filing the same?
Form DIR-3 KYC needs to be filed on or before 31st August,2018.
What are the mandatory information in DIR-3 KYC?
Who has to file the form DIR-3 KYC?
The form should be filed by every Director using his own DSC.
Does the form needs any certifications?
Yes, The form should be duly certified by a practicing professional (CA/CS/CMA).
Whether the form needs to be filed by disqualified directors also?
Yes. Filing of form DIR-3 KYC by disqualified directors is also mandatory.
What are the consequences of non-filing of form DIR-3 KYC before due date?
Source: http://www.mca.gov.in
MCA (Ministry of Company Affairs) had made changes in Company Incorporation forms and waived MCA fees for filing Spice Forms (Memorandum and Articles of Association) for new companies having authorised capital up-to Rs.10 Lakhs. Other important changes are as follows:
Also, Forms INC-3, INC-12, INC-22, INC-24, DIR-3, DIR-12 and GNL-1 have been revised on MCA21 Company Forms Download page.
The waiver of MCA fees for new companies having authorised capital up-to Rs.10 Lakhs, will encourage Small and Medium Business to shift to Companies. Even though the Compliance cost of Companies are high, there is another attraction of less Income Tax Rate of 25% compared to 30% for other type of constitution like Firms, LLP etc. for Companies having turnover of less than Rs.50 crores. The high Compliance cost will be negligible for Companies who have higher profits, when compared to savings of 5% in Income Tax.
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Karthik & Sunil 