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Form INC -20A Commencement of Business Certificate

MCA has introduced a new compliance in its recent ordinance, and it is called eForm INC 20A. This compliance is meant for companies that have been registered on or after 2nd November 2018 and it declares the commencement of business.

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Form INC -20A Commencement of Business Certificate

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  1. EFormINC 20A Declaration of Commencement of Business

  2. Introduction eFormINC-20A eForm INC-20A is filled to declare the commencement of business. ▪ Introduced as Section 10A of the Companies Act 2013. ▪ https://www.registrationwala.com/form-inc-20a 2

  3. What is eFormINC-20A? FORM INC-20A is a form to be filled declaring the commencement ▪ of business. It declares that the shareholders have paid the value of their initial ▪ shares as stated in MOA. This form needs to be filed within 180 days after the company ▪ registration. This form provides the company with an approval to commence ▪ 3 business.

  4. Who do and don’t need to File the eForm INC-20A? People who do need to file FORM INC 20A Companies that have been registered on or after 2ndNovember ▪ 2018 Companies that have share capital stated in their MOA. ▪ People who don’t need to file FORM INC 22A Companies that have been registered before 2ndNovember 2018 ▪ Companies that don’t have any share capital. ▪ 4

  5. Why Filing eForm INC 20A Required? It declares that the company is ready for business. ▪ It ensures that the shareholders have paid up their share in ▪ company capital. https://www.registrationwala.com/knowledge-base/business-registrations/private- limited-company/certificate-of-commencement-of-business 5

  6. What Are the Documents Required For File INC-20A Eform? The documents required to file INC 20A eForm are the following: Bank statement of the company. ▪ Digital Signature Certificate of the Director of the company. ▪ Certificate of Incorporation Number. ▪ 6

  7. What If You Don’t File INC 20A? If you don’t file INC 20A, then there are three types of penalties that you need to watch out for: Penalty on the company. ▪ Penalty on Directors. ▪ Company Removal. ▪ 7

  8. Penalty on the Company The company has to pay INR 50,000 if the directors didn’t file the declaration. https://www.registrationwala.com/knowledge-base/business-registrations/private- limited-company/certificate-of-commencement-of-business 8

  9. Penalty on the Company The company has to pay INR 50,000 if the directors didn’t file the declaration. 9

  10. Penalty on Directors Directors have to pay the penalty of INR 10,000/- per day with the ultimate limit of INR 1, 00, 000/-. 10

  11. Final Penalty to the Company The company is going to be given some chances to file the form with the late fees. If it still does not comply, the following happens: Company strike off: The company name shall be removed from ▪ the registry. 11

  12. THANKS! Any questions? You can find us at: ▪ @Registrationwala ▪ ▪ ▪ +91-8882-580-580 support@registrationwala.com https://www.registrationwala.com/form-inc-20a 12

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