The company affairs ministry of India has announced that all corporates in the country should compulsorily go in for electronic filing of statutory documents including annual returns, balance sheets and profit and loss accounts from September 16.
The initiative would strengthen the regulatory framework and facilitate compliance of rules at maximum convenience and at the least cost. The Indian corporates have to log on to the ministry's e-Governance website and file the documents attested with the digital signature of the designated company official. For filing the e-Forms, all directors on the company's board will need the mandatory director identification number (DIN) being issued by the ministry. DIN, which also can be obtained on-line. The ministry has also clarified that it is illegal to use the digital signature certificate (DSC) of any other person for filing the documents. Certifying Authorities (CA) have been granted license to issue DSC with a validity of one or two years under Section 24 of the Indian IT-Act 2000.