Description
KYC or, by its acronym, Know Your Customer is the practice carried out by companies to verify the identity of their clients in compliance with legal requirements and current laws and regulations.
The MCA introduced the form for validating the addresses of all registered companies under the Companies Act, 2013. The form goes by the name tag ACTIVE (Active Company Tagging Identities and Verification). The due date for filing this form is 25th April 2019. …
- Download and fill the KYC form.
- Mention your Aadhaar/PAN details.
- Visit a KRA office and submit the application.
- Attach the proof of identity and proof of address with the application.
- You may have to submit your biometrics as well in some cases.
Know Your Customer (KYC) standards are designed to protect financial institutions against fraud, corruption, money laundering and terrorist financing. KYC involves several steps to: establish customer identity; understand the nature of customers’ activities and qualify that the source of funds is legitimate; and.
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