Upcoming MCA Complianes Last Date: 31 Aug 2021 - Lex N Tax Associates

DIR-3 KYC

DIR-3 KYC is also known as DIN. Here DIN is stand for Director Identification Number (DIN). It refers to that unique identification number which is given to a person who wants to become a director or an existing director of a company. It is made for all the directors. In the year 2018, ministry of corporate affair (MCA) , launched a new approach is known as director KYC to check the existence of the director of the company. All the directors will have to submit their DIR-3 KYC form that is related to DIN which is submitted or filing on or before 30 September of the immediately next financial year. This form needs to be filled every year by the directors.
The following steps and documents were in needed to be submitted by the directors of the company for filling the DIR-3 KYC: – (all mentioned documents should be self- attested).

1. Proof of permanent address- Copy of Electricity Bill, AADHAAR Card.
2. Optional Attachment if any- Copy of Pan Card, Voter’s ID Card.
3. Copy of AADHAAR card & Passport are mandatory if it is assigned.
4. Proof of present address (if it is different from permanent address) – Copy Electricity Bill, Rent Agreement.
5. Applicant’s Signature or digital signature if the form is digital.

There is a process for finding out the form for DIR-3 KYC is submitted or not, the following step is:-

•  Login to MCA using Username and Password.
• Select MCA Service- then go to DIN Services- and then DIR-3-KYC-Web.
•  Enter DIN of the concerned person.
•  Pre-filled mobile number and Email ID shall appear.
• Click on send OTP.
•  Enter OTP for mobile number and Email ID.
•  Click on verify OTP.

DPT-3

What is DPT-3?
DPT-3 is a return of deposits, As per the Companies (Acceptance of Deposits) Amendment Rules, 2019, all the companies have to compulsorily file the one-time deposit return in E-form DPT-3 within 90 days form the end Financial Year 2020-21.
Types of dpt-3:
There are two types of returns as follows:

1. One time return
2. Annual return:
   Who is exempt from filing the return?
   Every company except a government company must file this return. Additionally, as per Rule 1(3) of the
   Companies (Acceptance of Deposits) Rules 2014, the following companies are also exempt:

• Banking company
• Non-Banking Financial Company
• A housing finance company registered with National Housing Bank
• Any other company as notified under proviso to subsection (1) to section 73 of the Act

MSME-1

MSME-1 for is stand for micro, small, and medium enterprise (MSME), under act, 2006, is a provision that strengthens the provisions relating to delayed payments to the MSME’s. MSME form -1 was introduced to protect the interest of Micro and Small enterprises from large companies. The Ministry of Corporate Affairs (MCA) has made major changes for protecting the interest of groups of small companies or business.
Due date: – MSME form-1 half-yearly return has to be filed within 30 days from the end of each half-year by companies in respect of outstanding payments to Micro or Small Enterprise i.e. 30th April 2020 and 31st October 2020.
Penalty for late filling form MSME-1
Section 405(4) includes non-furnishing/incomplete/incorrect information penalty states fine up to 25000 which may exceed to 3 lakhs and imprisonment of 6 months for directors or both. Therefore every company accepting goods or services from MSME shall be required to file the return, if payment is not made within 45 days.

BEN-2

MCA has issued a notification for filing a return called BEN-2 by a company that is registered under the Companies Act, 2013. In Form No. BEN-1, the reporting company shall file a return in Form No. BEN-2 with the Registrar within a period of 30 days from the date of receipt of such declaration by it. Form BEN-2 is that the form where the beneficial owner who is required to declare a disclosure to the Registrar his interest within the shares of the corporate within thirty days of acquiring such beneficial interest in such a corporation . Section 90(4) of the businesses Act, 2013 mandates every company to file a declaration in form BEN-2 with the Registrar disclosing his beneficial interest within the company.

The consequences of non-filling: –
Section 90(11) of the Act, 2013 provides for penal provisions for the failure of the part of the company and every officer in default in complying with the provisions of Section 90(4) i.e. filing of the above return and changes therein with the Registrar with a fine:-

• For company and every officer in default:- Rs.10 Lakhs – Rs.50 Lakhs
• For Continuing default: – Up to Rs.1000 for every day after first day of failure.

AOC-4

Financial statements are the source on the idea of which the Board of Directors and shareholders can evaluate the performance of a corporation. Form AOC- 4 is for filing the company’s budget for each fiscal year with the Registrar of Companies. The corporate is liable for duly furnishing the shape within 30 days of its Annual General Meeting.
The AOC 4 form is to be filed by 29th October 2021 or within 30 days from the annual general meeting for the FY 2020-21, therefore it’s mandatory to file the shape before the maturity arrives. The last date for AGMs is 30- September.

AOC-4 CFS

AOC-4 CFS is that the e-form for the businesses required organizing consolidated financial statements as per the provisions of sub-section (3) of section 129 of Companies Act, 2013 and other documents with the registrar of companies (ROC). Further subsection (4) of section 129 states that the provisions of this Act applicable to preparation,
adoption and audit of the financial statements of company shall, mutatis mutandis, apply to the consolidated financial statements mentioned in sub-section (3).
According to Rule 12(1) of the corporate (Accounts) Rules 2014, companies having one or more subsidiaries within or outside India will need to file AOC-4 and AOC-4 CFS with reference to its financial statements and consolidated financial statements respectively.
The form submitted within 30 days of AGM and the last date for submission for form is 30 September in every fiscal years.

AOC-4 XBRL

XBRL stands for “extensible business reporting language” is the form of filing of XBRL document in the respect of financial statement and other documents with registrar of companies (ROC). XBRL may be a language for the transmission of business and financial data which is revolutionizing business reporting round the world. It provides major benefits within the preparation, analysis and communication of business information. It offers cost savings, greater efficiency and improved accuracy and reliability to all or any those involved in supplying or using financial data. XBRL stands for eXtensible Business Reporting Language. It’s already being put to practical use during a number of nations and implementations of XBRL are growing rapidly round the world. The form submitted within 30 days of AGM and the last date for AGM submission for form is 30 September in every fiscal years.

Form MR-3

Secretarial Audit is a compliance audit. It is part of overall compliance control in an organization. It is a powerful device for company compliance control, which facilitates to come across noncompliance and to take corrective measures. The submission is taken with board report along with AOC-4 (XBRL).Secretarial Audit is a process

• To test compliance with the provisions of numerous legal guidelines and rules/
  regulations/procedures, upkeep of books, facts etc.,
• By an unbiased professional
• To ensure that the criminal and procedural necessities are complied with
• Also observed the due process.
• It is basically a mechanism to reveal compliance with the necessities of said legal guidelines. Applicability

If the fom is not filled , The obligatory provisions regarding applicability of secretarial audit are as defined below:

• Every Listed Company.
• Every public enterprise having
• Paid up proportion capital > Rs.50 crore. Turnover > Rs.250 crore If all and sundry of the standards meets then additionally secretarial audit is obligatory.

MGT-7

“MCA department has provided the revised e-form MGT-7 and therefore the new MGT-7A e-form. each forms are out there for filing below the transfer page. Also, the department has suggested to neutral check the new kind before filing.”
Who has got to file the form?
All corporations, whether or not public or non-public that square measure registered in Asian nation should file the shape MGT-7 each year.

One person company (OPC) introduced within the Finance Act 2021 also are compulsorily needed to file the annual come back in kind MGT-7.
A company files the shape MGT-7 for its annual come back.