FORM INC-20A

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FORM INC-20A

Form INC-20A was introduced via Companies (Amendment) Ordinance 2018 wherein it made all companies registered in India after the commencement of the Companies (Amendment) Ordinance, 2018 and having a share capital, mandatory to obtain commencement of business certificate before commencing any business or exercising any borrowing powers. Therefore after 02.11.2018, any company incorporated after this date would be required to obtain Commencement of Business Certificate.

It should be filed by the directors within 180 days from the date of incorporation of a company. Once the company receives a certificate of incorporation, the directors will file a declaration certificate of commencement of business. Our professionals will help you in filing FORM INC-20A.

FORM INC-20A Registration Process

Documents required

1. Proof of payment of subscribed capital (Bank statement/ NEFT / IMPS receipts)

2. Registration Certificate (Certificate of registration by RBI/ other regulators (applicable to NBFC)

Frequently Asked Questions

Yes, it is mandatory to file form INC 20A for being eligible to start its business and borrow money in its name.

Every company incorporated on or after 02/11/2018 & having a share capital is required to file INC 20A.

Yes, the declaration is a one-time mandatory filing for companies incorporated post 02/11/2018.

The penalty will be levied to the company as well as to its directors who commence the business without obtaining the commencement of business certificate. 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.

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