KYC compliance DIR3-KYC : Govt to allow
directors to submit details with reduced fee of Rs 500/= for 15 days-ON OR BEFORE"before 5th October, 2018
FILING WITH FEE OF RS 500 IS HAPPENING NOW
The directors whose Director
Identification Numbers (DINs) were deactivated following non-filing of new
know-your-customer norms can get them reactivated by giving KYC details with a
late fee of Rs 500. They can file the e-form till October 5, said government
sources. It is likely to be notified shortly.
ADDITIONAL
15 DAYS IS BEING GRANTED
Earlier, the fee for late filing was Rs 5,000. The Ministry of
Corporate Affairs (MCA) decided to give 15 more days to nearly 21 lakh
directors to comply with the KYC norms. The deadline for filing DIR-3 KYC form
had lapsed on September 15. The filing could be done free of cost till then.
ONLY
12.15 LAKH COMPLIED DIR-3 KYC SO FAR
The decision to extend the deadline comes after close to 21 lakh
directors out of a total of around 33 lakh failed to file their KYC details
with the MCA-21 system and subsequently, their DINs were deactivated. Only
12.15 lakh directors filed their personal details with the government.
REQUEST
BY ICSI , ICAI FOR EXTENSION OF TIME
Several directors, as well as
organisations such as Institute of Chartered Accountants of India (ICAI) and
Institute of Company Secretaries of India (ICSI) had sought more time for
filing citing practical difficulties such as time-consuming process and
difficulty in the functioning of the website.
On July 14 this year, the MCA, under the supervision of its
secretary Injeti Srinivas, had introduced the KYC norms for all the 33 lakh
directors registered in the country.
The electronic form is aimed at preventing fly by night
operators and dummy directors who are non-existent.
ATTACHENTS
FOR DIR-3 KYC
Directors have to provide details such as personal mobile
number, e-mail address, Permanent Account Number (PAN) and Aadhaar number in
the new form, duly signed by a chartered accountant (CA) or a company secretary
(CS). There is also be a video verification feature requiring directors to
upload a 30-second video clip introducing themselves.
EVERY
YEAR DIR-3 KYC HAS TO BE FILED
From next year, the new form is to be filed by the directors
annually at the time of filing annual statements.
Late filing of e-KYC filing will attract a fee of Rs 5,000 after
October 5 deadline ends. Each director who has been allotted DIN on or before
March 31, 2018, has to file it.
EVEN
DISQUALIFIED DIRECTORS HAVE TO FILE
The e-KYC rule is also applicable to those directors who have
been disqualified by the government in the past for flouting norms.
SOME RELIEF
·
They can file the e-form till October 5.
Earlier deadline was September 15
·
Late filing of e-KYC filing will attract a fee
of Rs 5,000 after the Oct 5 deadline ends
·
The e-KYC rule is also applicable to those who
have been disqualified
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