In this digitalization, people used to complete their work digitally in place of a physical approach. When you are a businessman or have any work related to a document, you have to visit digitally to fill up a document. It mostly happens with the people who belong to the tax and corporate world. So, if you are one of them, then this article will be going to helpful for you.
A digital signature is a necessity nowadays. Everyone already knows about the most used type of digital signature that is the Class 2 Digital Signature Certificate. This digital signature is used to sign various audit reports, income tax return documents, etc. But recently, there is a great update that comes regarding DSC. To know more, read this till the end.
Digital Signature Certificate
The controller of certifying authorities issued an update regarding Digital signature certificate service recently. DSC stands for class 2 digital signature. According to CCA, the class 2 digital signature will be discontinued from January 1, 2021. According to the authority, only class 3 DSC will be issued from January 1, 2021.
The certifying authorities issued the digital signature certificates after successful verification of the user identity & address credentials. The applicants and CAs should strictly follow all the guidelines that are issued by CCA. The CAA already issued various guidelines to CA on the KYC form, DSc applicant form. Physical & video verification, Key pair generation, etc.
The CAA issued a guideline to CA regarding maintaining an e-KYC account, organizational KYC, Aadhaar offline KYC, Bank KYC & PAN KYC, along with personal certificates and e-KYC for foreigners. The CAA issued guidelines to issue a special purpose DSC that includes Document signer certificate & SSL certificates. The guidelines prescribed for various annexures support the documents.
This update was issued by CAA on November 26, 2020. Before that, the CA certificate authorities issue digital signature certificates for the electronic authentication of users. In para 1.13, it is mentioned that “CA will not issue class 2 level of DSC from 1.1.2021”. It is also mentioned that people can renew their digital signatures before December 31, 2020.
According to the experts, the industry will grow because there would only one DSC type. The market will grow because the cost of class-3 DSC is more than Class-2 DSC. So, it is informed to the clients that they should be ready to pay more. If you are working in the same field, you should contact your clients and renew the DSC class2 signature.
Overview
It is informed to all the clients that it will be discontinued from January 1, 2021, and the class-3 DSC is mandatory. Well, the cost of a class3 DSC is more, so you should renew your class 2 DSC for 2 to 3 years before December 31, 2020. It may be time-consuming for you to fulfill all the processes, so complete it as soon as possible. By doing so, you can save your money for the upcoming years. If you want to save your money and put less effort, then do this now!