DIR-3 Director KYC
What Is Director Identification Number (DIN)?
Director identification number is the number allotted to a proposed or the existing director of the company. In order to obtain DIN, you need
to submit or update KYC details via e-form DIR-3 to the ministry of corporate affairs (MCA).
Anyone who wants to be a director of one or more than one company has to mandatorily submit this form. As you know, MCA needs to
update its registry and it can only be done when all the directors of the company will submit their KYC details annually to Ministry of
What Is Included In Our Package?
Form DPT-3 Filing
What Is DPT 3 Form?
Form DPT-3 is a deposits return that are furnished by the companies to display information about deposits and/or loan outstanding receipt
or money other than deposits. As per the latest amendment done by the ministry of corporate affairs, all companies except government
companies must file a one-time return for the outstanding loans, but it is not considered a deposit.
Latest Update - Form DPT-3 has been added to the list of forms available under the Companies Fresh Start Scheme (CFSS) 2020. As a result,
no late penalties will be assessed if the form is completed before September 30, 2021
In How Many Ways DPT 3 Form Can Be Filed?
There are two ways in which DPT-3 form can be filed –
One time return
An Overview To Limited Liability Partnership Compliance
Limited liability partnership needs to maintain compliance's to avoid heavy penalties under non-compliance law. LLP's should submit/file income tax returns to the income tax department and annual returns to the ministry of corporate affairs (MCA). In the case of LLP, there is no need to audit books of accounts unless the annual turnover of an LLP is more than Rs.40 Lakhs or contribution is more than Rs.25 Lakhs. LLP enjoys the benefit of a separate legal entity and perpetual succession. An LLP has fewer compliance requirements in comparison to a company. Limited liability partnership needs to file their annual returns in form-11 within 60 days from the end of the financial year and Statement of accounts & solvency in form-8 within 30 days from the end of 6 months of the financial year.
Statements of Accounts and Solvency - All enrolled LLPs are obliged to maintain books of accounts and to enter data regarding profit earned
and other financial data pertaining to the firm on Form 8, which must be submitted annually. Form 8 must be attested by the signatures of the
authorized partners and certified by a chartered accountant, a company secretary, or a cost accountant in practice. Failure to file the statement of
accounts and solvency report on time may result in a fine of Rs.100 per day. Form 8 must be filed by 30th October of each fiscal year.
Annual Return Filing - Annual Returns must be filed on the prescribed Form-11. This form summarizes the LLP's management affairs, including
the number of partners and their names. Additionally, form 11 must be filled by the 30th May each year.
Filing and audit requirement under the Income-tax act - As previously discussed, Limited Liability Partnerships with a turnover of more than
Rs.40 lakh or a contribution of more than Rs.25 lakh are required under the Limited Liability Partnership Act, 2008 to have their books of accounts
audited by practising Chartered Accountants. 30th September is the deadline for filing a tax return for an LLP must have its books audited.
Note: From AY 2021-22 (FY 2020-21), the Rs.1 crore threshold limit for a tax audit is enhanced to Rs.5 crore if the taxpayer's cash receipts are
limited to 5% of gross receipts or turnover and cash payments are limited to 5% of aggregate payments under the For LLP's that do not require a tax audit, the tax filing deadline is 31st July. Form 3CEB is required for LLP's that have entered into any
international transactions with related firms or have engaged in certain domestic transactions. Form 3CEB should be certified by a chartered
accountant in good standing. Limited Liability Partnerships that are required to file this form must do so by 30th November. LLPs should use
Form ITR 5 to file their income tax returns. This form may be filed electronically through the income tax website using the designated partner's
PVT LTD Company Compliances
An Overview To Private Limited Company Compliance
A Private limited company has more compliance requirements in comparison to sole proprietorship, partnership firm & LLP. Private limited
compliance includes periodic filing of tax & other returns, maintaining statutory books & accounts, holding board meetings, other meetings etc.
Non-compliance will lead to penalties & may end up your business also in extreme cases. The compliance requirements may differ on the basis of
nature of business, product or service provided, the volume of turnover etc. The statutory compliance's of a private limited company
Annual Compliance Checklist For The Private Limited Company
1 First board meeting - The first Board of Directors meeting should be held within 30 days of the Company's establishment.
Subsequent board meetings
a) A minimum of four Board meetings per calendar year shall be held, with no more than 120 days between meetings.
b) Minimum of two meetings in each half of the calendar year for smaller companies, with a minimum break of 90 days between
3 First Annual General Meeting - It should be held within nine months of the Company's first financial year's ending.
Subsequent Annual General Meeting - Within six months period from the date of the financial year's ending. A period of no more than
fifteen months shall elapse between the dates of one company's annual general meeting and the next.
Disclosure of interest by Directors/Declaration - Each Director shall disclose his or her interest in form MBP-1 and declaration in form
DIR-8 at the Board's first meeting of every financial year.
6 Appointment of First Auditor - The Board of Directors should appoint the first auditor within 30 days of establishment.
7 CAppointment of subsequent Auditor -
a) It will be appointed for five years at the AGM,
b) Within fifteen days of appointment at the Annual General Meeting.
8 Filing of Financial statements, i.e. Form AOC-4 -It should be filed within 30 days of AGM.
9 Annual return filing, i.e. form MGT-7 - It should be filed within 60 days of AGM.
10 Filing of form ADT-1 - Form ADT-1 must be filed within 15 days from the date of the auditor's appointment.
11 Statutory audit of accounts - Statutory audit should be done by the Chartered Accountant.
12 Filing of Company Income tax return - 30th of September every year.
13 KYC of directors - 30th of September
Maintenance of statutory registers, Minutes books and records - All companies are advised to maintain several statutory registers in the
required format, including a register of members, a register of charges, a register of directors and key management personnel and a
register of loan and guarantee. You also need to maintain minutes of board and general meetings, books of accounts, attendance
Proof of circulation of Notice, Draft and Signed Minutes - It should be maintained for a period of three years after the end of the
E-form DPT-3 - All companies with an outstanding loan/amount as of March 31 of each financial year are required to provide details and
bifurcation of such outstanding amount by June 30, regardless of whether such amount falls within the definition of deposit or not.
E-form MSME-I - If a company owes money to micro and small businesses and the payment is more than 45 days overdue, the company
is required to provide the following information:
a) April to September by 31st October
b) October to March by 30th April
Partnership Firm Compliances
An Overview To Partnership Firm Compliances
A Partnership firm needs to maintain compliances like LLP’s, public or private limited companies. Partnership
firm compliance mainly includes income tax return filing whereas LLP & company needs to submit both the
reports to the income tax department and annual filing to the ministry of corporate affairs. Partnership firms need to complete tax audit if the annual turnover of partnership firm is above Rs.100 Lakhs.
What Is Included In Our Package?
An Overview To Proprietorship Compliance
Proprietorship firms need to maintain compliances like LLP’s and companies (Public or Private limited
companies). Proprietorship firm compliance mainly includes income tax return filing, whereas LLP &
companies need to submit both the reports – Income tax return filing to the income tax department and
annual filing to the ministry of corporate affairs. Sole proprietorship firms also need to comply with TDS
regulations, GST regulations, ESI regulations etc. The requirement of compliance varies depending upon the type of entity, industry, state of incorporation, number of employees & sales turnover. It has very minimal statutory compliances as compared to a public or a private limited company. In
the case of sole-proprietorship, a sole proprietor does not enjoy the benefit of a separate legal entity and
limited liability. The annual income of the sole proprietor is considered the annual income of the
proprietorship firm. There is no need to file an annual report or financial statement to MCA. The major
compliance's of sole proprietorship firms are tax-related periodic and annual compliance's.
What Is ROC Compliance?
Every incorporated company in our country must fulfill their rules and regulations of the government. After
incorporation, a private company needs to fulfill laws and provisions under the Companies Act 2013.
ROC (Registrar of Companies) is the designated authority that administers the Companies Act 2013. It comes
under the ministry of corporate affairs. The company incorporated under the Companies Act 2013 has to
mandatory file various forms, documents as well as returns in time with the Registrar of companies (ROC) in an electronic mode. It is mandatory to comply with all the rules & regulations to avoid fees, penalties etc.
Required Documentation Of Mandatory ROC
For DIR-3 KYC - Director's Details, such as citizenship, nationality, gender, date of birth, Aadhaar Card,
Voter ID, PAN Number, Passport (required if a foreign national holds a DIN), Driving License, Director's
communication address, mobile phone number, and email address.
Note - Attestation of the above-mentioned documents is necessary by Practicing Professionals such as
a CA, CS, Cost Accountant, or Foreign Approval Office.
Digital signature of the applicant (DSC)
Letter of declaration of the applicant duly attested by a practicing authority.
a) Auditor's Details, including the auditor's name and firm's PAN number, the auditor's firm registration
number, the auditor's appointment terms and conditions, the auditor's communication address and
email ID, and the date of the auditor's annual general meeting (AGM).
b) Copies of the company's Board Resolutions
c) Letter of Appointment of an Auditor by the Company
d) The auditor's written consent and a certificate of eligibility for the auditor appointed by the Company
a) Company information, such as the CIN (Corporate Identity Number) and the name and address of the
appointed auditor. Date of the Board of Directors meeting at which the Financial Statements and
Directors' Reports are finalized, Date of the Annual General Meeting.
b) All Income Statements, the Profit and Loss Statement with Notes, such as the Balance Sheet with
Notes, the Cash Flow Statement, and the Statement of Change in Equity, Etc.
c) Financial Statements duly authenticated in accordance with Section 134 (containing the Board of
Directors' report, the auditors' report, and other documents)
d) Subsidiaries Statement according to Section 129 – Form AOC-1
e) Facts and Reasonings for Not Implementing the Financial Statements at the Annual General Meeting
f) Facts and Reasons for Not Holding the Annual General Meeting
g) Approval letter for financial year extension or AGM
h) Test or supplementary audit report u/s 143
i) Company CSR policy as per accordance with sub-section (4) of section 135
j) Information on the other entity (s)
k) Significant features and justification for entering into Contracts/Arrangements/Transactions with
related parties in accordance with Sub-section of Section 188 – Form AOC-2
l) Details of comments of CAG of India
m) Directors’ report in accordance with Sub-Section (3) of Section 134
n) Secretarial Audit Report
o) Details related to remaining CSR activities.
Attachment(s), if applicable
Note: The data contained in AOC-4 should be signed and approved by the Manager, Director, CFO, and
CEO along with a declaration. Additionally, a Chartered Accountant and Company Secretary should also
sign the declaration of the authenticity of the data in AOC-4.
For MGT-7 - For MGT-7, the following information is required:
a) The company's PAN, information about its business activities, information about its subsidiaries,
shareholding details, Joint venture and Associate company, the total number of members, Directors and
key managerial personnel's remuneration, Promoters and Debentures, indebtedness,
penalties/punishment/compounding of sentence.
b) Attachments, including a list of shareholders and debenture holders, and an approval letter for AGM
extension, MG-8 copy, option attachments (if any)
For MGT-14 - In the case of MGT-14, you have to file the following documents -
a) CIN (Corporate Identification Number)
b) Company information, such as the company's name, the office's address, and contact information,
such as an email address.
c) Details of the Resolution should be declared, such as a copy of the agreement/resolution passed, the
date of dispatch, the date of passage, and the total number of resolutions.
d) Any amendments to the Articles of Association or modifications to the Company's bylaws that are
reflected in the resolution
e) Explanatory Statement containing all pertinent information about the Resolution(s), including their
purpose, subject matter, and the authority under which the decision of passing the resolution has been
f) Details of such resolution, in the event that any Company dissolves
For Form 11
a) Information about the LLP and/or company that have partners/designated partners (DP) are as
directors/partners (required if any partner/designated partner is a partner in the LLP or a director in
b) Having any other information as an optional attachment
a) Making disclosures under Micro, Small and Medium-Sized Enterprises Development (MSME) Act, 2006
b) Financial Statements That Have Been Audited (if applicable)
c) Contingent Liability Statement (if contingent liability exists)
d) Any other documents (if required)
For MSME Form-1
a) Details of the supplier, such as the supplier's name and PAN,
b) Appropriate amount of goods/services supplied
c) The day on which the payment is due
d) The reason for the late payment of the due amount
ROC Compliances For A Private Limited Company
Change in paid-up capital of the company.
At the time of conversion of the company.
At the time of filing the report of the director.
When there is a change in the director’s interest.
Appointment of independent director.
Appointment of cost auditor.
Appointment of a woman director.
Half-yearly share transfer audit
Share capital audit reconciliation.
When a shareholding pattern needs to be filed after every quarter-end within twenty-one days.
When the report of corporate governance needs to be filed.
Invitation, transfer and allotment of shares subscription.
Issue of shares to company directors or employees.
During sub-division of shares face value.
Change in the board of directors.
At the time of appointment of managing director.
During payment of remuneration
Change in the working of the company bank accounts.
Purchase or sale of company’s fixed assets.
On the establishment of any business partnership
Changes made in the memorandum or articles of association of the company.
During maintenance of board meeting minutes.
Changes in the location of the registered office.
Appointment or change in company statutory auditors (https://www.finacbooks.com/statutory-auditingservices).
Events Based Compliance Filing :
Changing the name of a company/LLP
Change of Object clause of MOA
Preparation of the Director Report and Notice of Annual General Meeting
Changes to the company's registered office
Increase Authorized Capital
Keeping Minutes book and Statutory Registers up to date
Winding Up of the Company
Winding up of LLP
Issuing of share certificates
Maintenance of Minutes book and Statutory registers
issuance of Share certificates
ROC Event-based compliance's of company/ LLP
Allotment of Shares
Appointment & Resignation of Directors