Recently, the authorities deactivated multiple Identities of chartered accountants, cost accountants and company secretaries. The structure of the new version, the technical glitches with the new version and the challenges to the professionals are the point of discussion in this blog. It is the technical side of the taxation process. The legal and technical side of the tax filing process is information of awareness among professionals. The deactivation process of multiple IDs requires approval from ICSI, ICAI and ICMAI. The step of the regulatory body has a welcoming review from the professionals. The ICSI president said that they support the initiatives of regulatory authorities. MCA said the number of forms in the V3 portal is around 35 lakhs. The data is not syncing due to the issues of multiple ids in the portal. The students learning chartered accountancy courses find the practical knowledge of the tax process interesting. The past information on the portal helps us understand the technical challenges with the tax filing process.
The points to remember during MCA registration:
- The name should be as per the PAN record. The name must be in the format of first name, second name and last name.
- In the case of company directors, the DIN is the requirement.
- The MCA form has two types of users. The business user and the registered users handle the MCA forms.
- CA/CMA and CS professionals register their names under the registered user. The registered user is the category for the individual. The other professional users can register through file RUN or FiLLip forms.
- The users from the category of commercial usage should have PAN. It is mandatory. For registered users, PAN is not necessary.
- With the change of name from the registered user to the business user, the software makes use of the PAN details. The details in the PAN database go into the user details.
The category of business user:
- Designated partner
The difference between V2 and V3 forms:
MCA has shifted the forms and made them available from January 23, 2023. The company forms are in version two and LLP forms are now shifted to version three. The registered users receive two unique passwords after the registration. One is for the company and the other one is for the LLP. The following points explain the difference between the two versions of MCA.
- MCA V3 portal has launched the services of user registration, login, and filing DSC association. On March 8th, 2022, MCA added these services.
- Version two works as an upload of the forms. Version three is updating online directly.
- This accessibility helps with time management from the user side.
- The circulars and alerts are now customised as “my application” in version three.
- Version three flashes all the forms to know the process stage. This option helps the users to know the re-submission or payment of fees.
- In version two, the IDs are saved as per the login. In version three, the ids are connected to the email address.
- Version three asks for OTP from the user before login. The OTP will be sent to the mobile and e-mail of the business user.
Technical challenges with MCA forms:
The technical glitches are the concerns of the stakeholders. The business and registered users point out the following issues to the public notice. Some of the common mistakes in the forms are listed below.
- Incorporation forms are not working properly for foreign nations. The foreign business owners are not getting OTP.
- The Spice part-B consists of details for incorporation of the company. The stakeholders complain that they are unable to upload the form.
- Stakeholders are unable to save the page that has the image of a technical error that occurred.
- The SRNs and names expire due to technical glitches.
- The form is having a problem with re-submission.
- The status is not showing after the payment of a fee.
- The categories are not getting selected.
- The payment details are updated in the V2 version. The payments are showing as incomplete in the V3 version.
- The permissible size for a court order in Form INC-28 should be increased. The users find it difficult to upload due to size issues.
- In Form INC-33 the sections of NIC code, main objects are not working properly.
- The DIR-3 form submission is creating confusion as the application history shows verification pending.
- PAN and TAN columns are pending in the COI.
- Some of the completed forms are missing from the portal.
- The attachments also disappear in some cases.
Registration with MCA is essential for maintaining the credibility of the business. The registration conveys the corporate message that the company is legitimate and maintains transparency to the suppliers, customers and investors. The permanent documents like AOA and MOA are in digital form with MCA. A registered user uses the e-services of MCA. According to the companies’ act of 2013, all companies should register with MCA. The penalty amount for not registering in MCA goes as 10,000 per day.