Part A: General Information:
1. From 1.1.2015, all applications for IEC would be made in online mode only. All applicants will have to fill IEC application and also upload all required documents online.
2. All IEC Certificates would also be issued by the concerned RA (with his digital signature) in digital format only. The applicant can take a print out of the digitally signed IEC, as and when required.
3. Applicants with digital signatures would sign the application with their digital signature and submit the same online.
4. In case the applicant does not possess digital signature, then he would be required to take a print out of the filled up application (without attachments), sign the same and submit it to the concerned RA, either by Post or at the counter.
5. All applications must be processed and disposed within two working days of their receipt.
6. RAs would record their observations with reference to the application, based on which either an e-IEC or a rejection letter, along with the reasons for rejection, would be issued. RA would also print the office note generated by the system on the application received for their office record.
7. There is no provision for issue of deficiency letter in the new system. If the IEC application is rejected, the applicant would be required to file a fresh application.
8. The authorised officer (not below the rank of FTDO) in the Regional Authorities (RAs) as in Appendix 1 of Handbook of Procedure (vol.1) (2009-2014) will be the competent authority to issue/reject applications for IEC.
Part B: What to Examine/Verify:
1. Applicant entity’s details:
a) In case of Proprietorship firms: To verify Name, Date of Birth and PAN, as filled in the application form and as mentioned in the uploaded PAN, from the website of Income Tax Department.
b) In case of Partnership firms:
i. To verify Name, Date of Incorporation and PAN of the entity, as filled in the application form and as mentioned in the uploaded PAN, from the website of Income Tax Department.
ii. To verify Name, Date of Birth and PAN of the Partners as filled in the application form, from the website of Income Tax Department.
c) In case the entity is Limited Liability Partnership/ Private/ Public/Govt. Undertaking / Section 25 Company:
i. To verify Name, Date of incorporation and PAN of the entity, as filled in the application form and as mentioned in the uploaded PAN, from the website of Income Tax Department.
ii. To verify and cross-check the number, names and other details of Partners/Directors from the LLPIN/CIN information available on the Ministry of Corporate Affair’s website.
d) In case the entity is a Registered Society/Trust or a HUF:
To verify Name, Date of incorporation and PAN of the Society/Trust as filled in the application form and as mentioned in the uploaded PAN, from the website of Income Tax Department.
2. Applicant entity’s address verification: To verify the applicant entity’s address cross-check the address as indicated in Part A (ii) with that of the address as mentioned in the Sale deed (in case business premises is self-owned); or Rental / Lease Agreement (in case office space is rented/ leased); or latest electricity /telephone bill.
3. Verification of the bank details of the applicant entity: Name of the Account Holder, Account number, Bank’s name and Branch and IFS code as filled in by the applicant in Part A (viii) needs to be cross-checked from the cancelled cheque/ bank certificate as uploaded.
Part C: Procedure for verification of details from websites by RAs:
· RAs can cross-check and verify Applicant entity's Name, Date of Birth/Date of Incorporation, PAN of the entity from the link as below:
· The LLPIN/CIN details of the Firm/Company may similarly be cross verified from the Ministry of Corporate Affair’s website: http://www.mca.gov.in/MCA21/Master_data.html, by taking the steps listed therein.