What is form INC-20A?
INC-20A is a mandatory form that is to be filed by a company incorporated on or after 02/11/2018 with MCA. It is also known as Declaration of Commencement of Business. It should be filed by the directors within 180 days from date of incorporation of a company which has share capital. Once the company receives a certificate of incorporation, the directors will file declaration certificate of commencement of business. It is mandatory to open a current account in a bank for depositing the share capital subscribed in MOA by each and every promoter.
Documents required for INC-20A
NOTE: Further documents and scrutiny can be made on a case by case basis which is beyond our control.
Fulfill compliance in 3 Easy Steps |
Process of filing KYC online |
|---|---|
1. Follow Quick Process
|
|
2. Experts at LW are here to help
|
|
3. Your KYC is updated!
*Subject to Government processing time |
Frequently Asked Questions
Yes, it is mandatory to file Declaration of Commencement of Business by filing form 20A; to establish that the company has received the paid up share capital amount and is eligible to start its business and borrow money in its name.
Every company that is incorporated on or after 02/11/2018 and having a share capital is required to file INC 20A
Companies that are limited by guarantee i.e. the ones not having share capital or the ones incorporated before 02/11/2018 are not required to file it.
The due date for filing the declaration is within 180 days from the day of company incorporation.
No, You cannot start the business without filing this form.
It is one-time filing compliance.
MCA will charge penalty to the company as well as to its directors who commence the business without obtaining the decleration. Further, MCA may also strike off the company.
The Bank Account statement of a Company having all credit entries for receipt of subscription money received from all subscribers to MOA is to be attached with the form. One can also attach IMPS or NEFT receipts.
