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Commencement of Business(INC-20A)

The Ministry of Corporate Affairs has Re-introduced the Concept of Commencement of Business Certificate. Company registered on or after 02 November 2018 are required to file Declaration for Commencement of Business with Registrar of Companies within 180 days of its Incorporation of Company Stating that the Subscribers to Memorandum of Company has paid the Value of Share so agreed by them along with Verification of Registered Office Address of the Company.

. DOCUMENTS .

For INC 20A
  • Bank Statement of Company having all credit entries
  • Certificate of Incorporation
  • Company is liable to pay Rs. 50,000.
  • The registrar may initiate action for removal of the name of the Company.
  • Company would not be able to start its business or borrow money.
  • Every officer who is in default is liable to pay Rs. 1000/- per day of default upto a Maximum Rs. 1,00,000/-.
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    . Frequently Asked Questions .

    Ans:

    All the companies incorporated on or after 02/11/2018 and having a share capital to file form 20A

    Ans:

    Declaration that all the subscribers to the MOA have remitted the total value of the shares agreed to be taken by them in the Companies Bank Account.

    Ans:

    Company incorporated on or after 02//11/2018 should file the form within 180 days of incorporation.

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    Valid payment proof like NEFT / IMPS receipts.