fbpx +91-9427557733/44




INC-20A is a mandatory form that is to be filled by a company incorporated on or after 2/11/2018 with MCA. It is also known as Declaration for commencement of business. It should be filled 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.

Companies which are not required to file form INC-20A

The following companies are not required to file form INC 20A:

  1. Company incorporated before 2 Nov,2018 (i.e. before the commencement of the Companies (Amendment) Ordinance, 2018.
  2. Companies incorporated after 2 Nov,2018 without share capital.

Time-period for filing form INC- 20A

Every company required to file form INC- 20A within 180 days from the date of commencement of the business.

Process of filing form INC- 20A

  • Company Bank account
  • Collection of the capital
  • Deposit share capital in the Company bank account
  • File form INC- 20A

Documents required for filing form INC- 20A

The Documents required for filing form INC- 20A are:

  1. Proof of payment of subscribed capital.
  2. Certificate of registration by RBI/other regulators (applicable to NBFC).
  3. Other attachments, if any.

Who can digitally sign the E-Form?

The form shall be signed by-

  • The Director of the Company authorized by the Board of Directors of the Company.
  • Practicing professional (Chartered accountant/Cost accountant/Company secretary (in whole-time practice).

Penalties for non-compliance of Form INC-20A

When it comes to filing Form INC- 20A, any negligence can attract hefty penalties. The goal is to reduce the number of fake companies being incorporated. The penalties for filing Form INC-20A, are as follows;

  • Defaulting Companies– Companies that do not comply with the basic requirement of filing Form INC- 20A for the commencement of business, will have to file a penalty of Rs. 50,000/-       
  • Defaulting officers– Every Company officer who is responsible for filing Form INC- 20A will be charged a penalty of Rs. 1,000/- day, for every day, until the form is filed, until it reaches the maximum amount of Rs. 1,00,000/-
  • ROC removal of the company: The ROC can remove a company name from the registry, if the company has not executed any business transaction or operation, after 180 days of registering the business.
Write a comment