Certificate of Commencement of Business or Form INC 20A

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Certificate of Commencement of Business or Form INC 20A

All you need to know

The concept of commencement of business certificate has been re-introduced by the Ministry of Corporate Affairs. Under the newly introduced Companies (Amendment) Ordinance 2018, all companies registered in India after the commencement of the Companies (Amendment) Ordinance, 2018 and having a share capital is required to obtain commencement of business certificate before commencing any business or exercising any borrowing powers. As The Companies (Amendment) Ordinance 2018 was introduced in November 2nd, 2018, any company incorporated after November 2018 would be required to obtain Commencement of Business Certificate.

 

As Per Section 10 A- Commencement Of Business Of Companies Act, 2013, It Is Mandatory To Obtain Certificate Of Commencement Of Business For Registered Companies. The declaration for commencement of business shall be filled within 180 days from the date of getting Certificate of Incorporation.

 

Consequences if Form is not Filed within time:

  • Company cannot start his business
  • Company cannot borrow money
  • Company will be closed by the Registrar of Companies.
  • Department will remove of name of the company from the Registrar of Companies.
 

Penalty for Form INC 20 A for Commencement of Business:

  • Company will be liable to pay Rs. 50,000 penalty for not filing the Form INC 20A
  • Every officer who is in default is liable to pay Rs. 1000/- per day of default upto a maximum Rs. 1,00,000/-
 
 

INC 20A Fees

BASIC

1299 (All Inclusive)
  • Form 20A Filing for capital upto INR 1 Lakh

STANDARD

1999 (All Inclusive)
  • Form 20A Filing for capital upto INR 25 Lakh
Popular

PREMIUM

2499 (All Inclusive)
  • Form 20A Filing for capital upto INR 50 Lakh

How to File INC 20A

INC 20A in 3 steps
  • 1. Obtain DSC
  • 2. Preparing the form
  • 3. Form filing in ROC

List of Documents to File INC 20A

Our mission is to offer excellent support to our client in respect of all the legal compliances on affordable rates. Have a look at the list of documents required to avail this service.

Documents of Shareholders/Directors
  • Subscribers proof of payment for value of shares i.e. bank statement of Subscribers
  • Digital Signature of Director
Company Related Documents
  • Certificate of Incorporation

FAQs On INC 20A

Get answers to all your queries

All the companies incorporated on or after 02/11/2018 and having a share capital is required to file form 20A.

The due date for filing the declaration is within 180 days from the day of company incorporation.

The Government fee depends on the authorised capital of the company, however a minimum fee is Rs. 200/- for a share capital less than one lakh.

No, You cannot start the business without filing this form.

It is just one-time mandatory filing compliance.

Declaration that all the subscribers to the MOA have remitted the total value of the shares agreed to be taken by them in the Companies Bank Account.

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