Form INC-20A

Form INC-20A is a mandatory form and it needs to be filed by every Private Limited Company or Public company which is incorporated on or after 2nd November 2018.

Which Companies are liable to file this Form?

This Form should be filed by the below type of companies which are incorporated on or after 2nd November 2018: –

  1. All Private Limited Companies
  2. All Public Companies
  3. Companies limited by guarantee and Having Share Capital

INC-20A e-Form Filing in India

INC 20A: Declaration of Commencement of Business

Mandatory Compliance has been introduced by the MCA as per the latest ordinance of 2018. It is called eForm INC 20A. According to the aforementioned ordinance. No company that has been incorporated on or after 2nd November 2018 can commence the business unless they have filed the following declaration through eForm INC 20A to the Registrar of Companies (ROC):

Every subscriber to MOA has paid the value of shares agreed to be taken by him on the date of making such declaration.

This form needs to be filed before the prescribed due date. Not filing the form is an invitation to penalties.

Penalties for not filing the eForm

  1. If the form is not filed on time, the penalty depends upon the delay
  2. If the eForm is not filed at all even after the late fees is imposed, there are two kinds of penalties:
    1. Company Penalty is INR 50,000/-
    2. Officer penalty is of INR 1000 per day up to a maximum INR 1,00,000/-

Why wait for penalties to arrive? Registrationwala can help you in filing this compliance at any time you want. Our team of Company Secretaries, Chartered Accountants, Lawyers and other business experts are going to help you file this eForm quickly.

Advantages of filing form 20A

After filing the E-form 20A within the limit of 180 days (6 months),

the company becomes eligible to exercise its borrowing powers. The company can raise funds from the general public as well as banks and other institutions.

If the company files the form 20A within the given time limit of 180 days (6 months), then it will be safeguarded from having heavy penalties per day for each direct.

After filing the form 20A, all the information relating to the business and its activities will be made available on the public database. This database will be easily accessible to the general public, investors, and other stakeholders. This feature will authenticate the existence of the company/business. This will help the business/ company to build its credibility in the market and among the stakeholders.

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