Validate Online Transactions using Digital Signature

What is the plan?

A lot of documentation today is in the electronic format and digital signatures help in establishing the identity of the sender. Online transactions such as Income Tax E-Filing, Company or LLP Incorporation are validated using DSC. Cleartax will help you obtain your DSC without any hassles.

Who should take this plan?

Obtaining a Class II Digital Signature is mandatory in following cases:

E-filing income tax returns in case of every registered trust, partnership firm, company, any other entity or individual who is required to get tax audit under the Income Tax Act
Company filings with MCA21( Ministry of Corporate Affairs)
MCA has mandated digital signatures for the following individuals:

• Directors
• Auditors
• Company Secretaries - Whether in practice or in job
• Bank Officials - for Registration and Satisfaction of Charges
• Other Authorized Signatories

• Identity proof (PAN card/Passport)
• Address proof (rental deed/electricity bill etc)/copy of bank statement signed by bank manager with bank’s seal/ Gazetted officer/ postmaster
• 1 passport size photograph

What are the different types of Digital Signatures and their uses?

There are three types of DSCs

Class I type is used only for securing email communication

Class II type is used for Company or LLP Incorporation, IT Return E-Filing, obtaining DIN or DPIN and filing other forms with the Ministry of Corporate Affairs and Income Tax Department

Class III type is used mainly for E-Tendering and for participating in E-Auctions

For most business compliance, Class II digital signature suffices.

What is the validity of a digital signature?

Digital Signatures usually come with a validity of one or two years. The validity of the DSC can be renewed once the term of the previous DSC expires.