INC-20A Filing – Commencement of Business Certificate
Every company incorporated in India must file Form INC-20A to declare the commencement of business. Without filing INC-20A, a company is not legally allowed to start operations, raise invoices, or open business activities. Non-compliance can lead to heavy penalties and even strike-off of the company's name from the ROC records.
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What Is INC-20A Filing?
INC-20A is a statutory declaration filed with the Registrar of Companies (ROC) stating that the company has received the subscription money from its shareholders and is ready to commence business operations.
This filing confirms that shareholders have paid the value of shares agreed upon at incorporation and that the company is compliant with legal requirements to begin business.
**Legal Provisions Governing INC-20A**
INC-20A filing is mandated under:
• Section 10A of the Companies Act, 2013
• Companies (Incorporation) Amendment Rules, 2019
As per the law, filing INC-20A is compulsory for eligible companies.
**Applicability of INC-20A Filing**
INC-20A filing is mandatory for:
• Private Limited Companies
• Public Limited Companies
**Companies Exempt from INC-20A:**
• One Person Company (OPC)
• Companies incorporated before 2 November 2018
Due Date & Importance
Due Date for INC-20A Filing
- Within 180 days from the date of incorporation
- Failure to file within this period may lead to penalties and company strike-off action
Importance of INC-20A Filing
- Enables legal commencement of business
- Confirms receipt of share capital
- Prevents penalties and strike-off
- Maintains statutory compliance
- Enhances business credibility
Procedure for INC-20A Filing
Open Company Bank Account
The company must open a current bank account in its name.
Deposit Share Capital
Subscribers must deposit the agreed share capital into the company bank account.
Prepare INC-20A Form
Details such as paid-up capital and subscriber confirmation are entered.
Filing with ROC
INC-20A is filed online on the MCA portal using the director's DSC.
Acknowledgement
Upon successful submission, an SRN is generated as proof of filing.
Documents & Penalties
Documents Required for INC-20A Filing
- Bank statement showing receipt of share capital
- Certificate of Incorporation
- Memorandum of Association (MOA)
- Articles of Association (AOA)
- Declaration by Director
- Digital Signature Certificate (DSC) of Director
- Company PAN
Penalty for Late or Non-Filing of INC-20A
- Penalty of ₹50,000 on the company
- Penalty of ₹1,000 per day on directors, subject to a maximum of ₹1,00,000
- ROC action for company strike-off
- Inability to commence business legally
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Key Features of a Commencement (INC - 20A)
Legal Commencement
Enables legal start of business operations.
Share Capital Confirmation
Confirms receipt of subscription money.
ROC Compliance
Maintains statutory compliance with MCA.
Penalty Prevention
Avoids heavy fines and strike-off.
Business Credibility
Enhances company credibility.
Advantages
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