Complete KYC by 25 April 2019 to retain “Active” status for your Company
Ministry of Corporate Affairs (MCA) is actively cleaning up its database of private and public limited companies through various initiatives. Their purpose is to eliminate shell companies and have complete & accurate information about operating companies. As a step towards achieving this, MCA has introduced Form INC-22A (also known as e-form Active; Active company tagging identities and verification) vide notification dated 22nd February 2019. An “Active” tag implies KYC compliance under the Companies Act, 2013.
Below are the highlights of e-form INC-22A:
|1.||Applicability of E-Form INC-22A||For every company incorporated on or before 31st December 2017|
|2.||Due Date for filing E-Form INC-22A||On or before 25th April, 2019 (Beyond this, late fees of Rs.10,000/- will be payable)|
|3.||Information mandatorily required to be filed in E form INC-22A|
|4.||Attachments with the E-Form INC-22A|
|5.||Implications of late /Non-Filing of E-Form INC-22A|
Hence, companies should complete the above KYC procedure by 25th April 2019 to avoid heavy late fees and retain active status; so that they can file other forms without further penalty.