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Since the announcement that the directors of the companies have to file the DIR 3 KYC, there have been several issues with the directors that include the following:
Seeing the above three issues, the government already opted for the extension in date to 15th September 2018. However, there are still directors out there that did not conform to this compliance and left their chance to file the compliance.
Therefore, in the final attempt so all the directors file the compliance, the government made a surprising move today and extended to the date even further to October 6 2018. What is even significant here is that the fees associated with the compliance has been reduced to merely INR 500/-. Therefore, if you haven’t completed your filing yet, now is the time to do so.
When it comes to the matter of Directors Identification Number, there use to be a convention that it is needed to be filed only once. This filing was to be done only at the time of incorporation and then it was over with. However, with DIR3 KYC, it is not about merely to get our hands on the DIN, but also to maintain it.
With, DIR3 KYC, it is now necessary to sort of renew the DIN on an annual basis. This compliance is something that you need to concerned about, for failure to abide by it and your DIN will be delisted on the MCA site. This is one of the reasons that the date of filing was extended earlier. However, as not many director’s are aware of the penalty associated with non-compliance, the date had to be extended further to 6th October.
Compared to the previous extension for the compliance filing, where the filing can be done without any cost, this final extension does come with some cost associated with it. As of now, you will be penalized a mere INR 500/- in order to file this compliance. This date is up to 6th of October, after that, the penalty will be INR 5000/- again.
As this is the final extension, as a shareholder, it is advised to you that you utilize this time unless you want to pay the INR 5000/- penalty and get your name removed from the MCA registry of DIN. The documents associated with the filing are as follows:
It is necessary to remember that this is the final extension. If you pass even this date, then you would have to pay the penalty of INR 5000/- for anything beyond this. For further information, you should get in touch with our experts.
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Hey there, I'm Dushyant Sharma. With the extensive knowledge I've gained in past 8 years, I have been creating content on various subjects such as banking, insurance, telecom, and all the important registration and licensing processes for various companies. I'm here to help everyone with my expertise in these areas through my articles.
