INC 20A: Declaration for Commencement of Business
Deposit the share capital in the bank account & file the form with MCA
Know more about INC 20A: Declaration for Commencement of Business
Once the Company is incorporated, the immediate compliance which needs to be done is the filing of the form with MCA which is the declaration for the commencement of Business. The purpose of this form is to make sure that every subscriber is paying the amount of their subscription to the Company. The time limit to file the said form is 180 days from the date of Incorporation. Without filing of this declaration, the Company cannot commence its business.
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Required Documents for INC 20A: Declaration for Commencement of Business
Documents required to file INC-20 A
- Subscribers proof of payment for the value of shares
- Certificate of Registration issued by the RBI (Only in case of Non-Banking Financial Companies) /from other regulators
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INC 20A: Declaration for Commencement of Business
All companies incorporated on or after 2nd November 2018 need to file the declaration.
The Companies need to file the Form within 180 days from the date of Incorporation.
If the Company has not filed the Form INC 20A, then it cannot start a business or borrow money and Registrar may also take action for striking off the name of Company.
- Subscribers proof of payment for the value of shares
- Certificate of Registration issued by the RBI (Only in case of Non-Banking Financial Companies) /from other regulators
Yes, it needs to be filed only once that is within 180 days of Incorporation.
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