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INC-22A (ACTIVE): Mandatory Compliance for Companies in India
In an effort to enhance transparency and compliance in the corporate sector, the Ministry of Corporate Affairs (MCA) in India introduced the INC-22A (ACTIVE) form. This form is a crucial compliance requirement for companies incorporated under the Companies Act, 2013. In this article, we will delve into the details of INC-22A (ACTIVE) and its significance for companies operating in India.
Understanding INC-22A (ACTIVE)
INC-22A, also known as ACTIVE (Active Company Tagging Identities and Verification), is a form introduced by the MCA to verify and identify active companies in India. The primary objective of this initiative is to ensure that companies maintain accurate and up-to-date information with the government and promote corporate governance.
Mandatory Compliance
INC-22A (ACTIVE) compliance is mandatory for all companies registered in India that were incorporated on or before December 31, 2017. Companies that fail to file this form risk being marked as “ACTIVE non-compliant” and face penalties and restrictions on certain transactions.
Key Requirements and Information
Director’s KYC: The form requires the Directors of the company to provide their Director Identification Numbers (DINs) and their Permanent Account Numbers (PANs). Directors must also update their mobile number and email address.
Photograph: Directors are required to upload a photograph of themselves with their face visible and a clear background.
Company’s Registered Office: The form mandates that the company’s registered office address be provided, including details such as the latitude and longitude coordinates of the location.
Photograph of the Registered Office: A photograph of the company’s registered office, showing its exterior along with a board displaying the company’s name and address, must be uploaded.
Email Verification: An email sent to the company’s email ID containing a unique code must be verified and confirmed.
Significance of INC-22A (ACTIVE)
Transparency: INC-22A (ACTIVE) ensures that the government has accurate and up-to-date information about a company’s registered office and its directors. This transparency helps in regulating corporate activities and preventing fraudulent practices.
Improved Corporate Governance: The compliance requirement encourages companies to maintain proper records and communication with the government, promoting corporate governance and accountability.
Penalties for Non-Compliance: Companies that do not comply with the INC-22A (ACTIVE) filing risk being marked as “ACTIVE non-compliant.” This status can lead to penalties and restrictions on various activities, including changes in authorized or paid-up capital and board-level decisions.
Filing Deadline
Companies must file INC-22A (ACTIVE) within the specified deadline to avoid penalties and restrictions. It is crucial for companies to stay informed about compliance deadlines and ensure timely submission of the form.
Conclusion
INC-22A (ACTIVE) is a significant compliance requirement introduced by the MCA to enhance transparency and corporate governance in India. Companies must ensure that they meet the filing requirements within the stipulated time frame to maintain their “ACTIVE compliant” status and avoid penalties.
Compliance with INC-22A (ACTIVE) not only benefits the government in tracking active companies but also promotes good corporate practices and accountability. Companies should view this requirement as an opportunity to strengthen their commitment to regulatory compliance and transparency in the corporate sector.,
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This article is only published for informational purposes. Please consult your Chartered Accountant or Financial Advisor before making any important financial decisions.
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