What is DSC?
Digital Signature Certificates (DSC) are the digital equivalent (that is electronic format) of physical or paper certificates. Few Examples of physical certificates are drivers' licenses, passports or membership cards. Certificates serve as proof of identity of an individual for a certain purpose; for example, a driver's license identifies someone who can legally drive in a particular country. Likewise, a digital certificate can be presented electronically to prove one's identity, to access information or services on the Internet or to sign certain documents digitally.
Why is DSC required?
Physical documents are signed manually, similarly, electronic documents, for example e-forms are required to be signed digitally using a Digital Signature Certificate.
Who Issues DSC?
A licensed Certifying Authority (CA) issues the digital signature. Certifying Authority (CA) means a person who has been granted a license to issue a digital signature certificate under Section 24 of the Indian IT-Act 2000.
What type of DSC is to be obtained for e-filing on the MCA portal?
DSC of either Class 2 and Class 3 signing certificate category issued by a licensed Certifying Authority (CA) needs to be obtained for e-Filing on the MCA Portal
Is Director Identification a prerequisite for obtaining DSC?
No
What are the documents to be filed with ROC every year?
Invariably, the Balance Sheet and Annual Return have to be filed every year. Other documents such as, Return of Allotment (Form No. Pas-3), Change of Registered office (Form No. INC-22), Change in the Directors (Form No. DIR-12), Charges (Form No. CHG-1, 9, 4) etc., have to be filed within the due date from the events taking place in the company as per the Companies Act, 2013.
What is the minimum number of directors required to form a company?
Minimum no. of directors for One Person Company: One, Private Limited Company: Two, for Public Limited Company: Three and, for producer company: Five.
My SRN is marked as defective. What should I do?
In case of STP forms, for example annual forms MGT-7 & AOC-4, AOC-4 XBRL etc, if there is any defect or incompleteness, same is marked by the RoC as 'Defective'. You are required to file such form afresh after rectifying the defects/incompleteness with payment of fee and additional fee, as applicable
How to sign e-form?
An e-form can be signed by the authorized signatory/representative using the Digital Signature Certificate (DSC). Click the DSC box in the e-form to affix the digital signature.
Can a resident person undertake forex transaction?
Resident persons are permitted to undertake forex transactions only with authorised persons and for permitted purposes, in terms of the Foreign Exchange Management Act, 1999 (FEMA).
Who are authorised persons?
An authorised person is an entity authorised by the Reserve Bank of India to deal in forex. It can be an authorised dealer, money changer, the off-shore banking unit, or any other person for the time being authorised under Sub-Section (1) of Section 10 of FEMA.
Can a resident person undertake forex transactions on internet/electronic trading portals?
Permitted forex transactions executed electronically should be undertaken only on electronic trading platforms (ETPs) authorised for the purpose by the Reserve Bank of India (RBI) or on recognized stock exchanges (NSE, BSE and Metropolitan Stock Exchange of India Ltd. (MSE)) as per the terms and conditions specified by RBI from time to time. As per FEMA, resident persons are not permitted to undertake forex transactions on unauthorised ETPs. Resident persons undertaking forex transactions on unauthorised ETPs shall render themselves liable for penal action under FEMA
Can a resident individual remit margin overseas under Liberalised Remittance Scheme (LRS) for undertaking online forex trading?
No. Remittances under LRS can be made only for permissible current and capital account transactions. All other transactions which are otherwise not permissible under FEMA and those in the nature of remittance for margins or margin calls to overseas exchanges/overseas counterparty are not allowed under the Scheme.
What are the permitted purposes for undertaking forex cash, tom and spot transactions?
Forex cash, tom and spot transactions can be undertaken for the purpose of buying/selling foreign exchange for permitted current/capital account transactions.
What is the meaning of capital account transaction? What are the permitted capital account transactions?
Capital account transaction means a transaction which alters the assets or liabilities, including contingent liabilities, outside India of persons resident in India or assets or liabilities in India of persons resident outside India. Please refer to the Foreign Exchange Management (Permissible Capital Account Transactions) Regulations, 2000 for permitted capital account transactions
