INC-20A
- Art Teacher
- London, UK
- 5-7 Hrs
INC-20A, also known as the Declaration of Commencement of Business, is a mandatory compliance requirement under the Companies Act, 2013 for every newly incorporated Private Limited Company in India. This form must be filed within 180 days from the date of incorporation, confirming that all subscribers to the Memorandum of Association (MOA) have paid their share capital. Filing INC-20A is crucial because, without it, a company cannot legally commence business operations or exercise borrowing powers. It acts as the government’s official green signal for your company to start functioning, ensuring statutory compliance, avoiding penalties, and building a strong foundation for future growth.
- Certificate of Incorporation (COI)
- Memorandum of Association (MOA) & Articles of Association (AOA)
- Proof of payment for share capital by all subscribers (Bank statement or deposit proof)
- Registered Office Address proof (if not filed earlier)
- Board Resolution authorizing filing of INC-20A
- Digital Signature Certificate (DSC) of a Director
- Collect proof of receipt of share capital from all subscribers.
- Ensure verification of registered office (via INC-22 if not already done).
- Prepare a Board Resolution for authorization to file INC-20A.
- Log in to the MCA portal with Director Credentials.
- Fill INC-20A form with required details and attach documents.
- Upload using DSC of the Director and make payment of applicable fees.
- Receive acknowledgment from the Registrar.
Form INC-20A is a mandatory declaration filed by directors of a company to confirm the commencement of business after incorporation, specifically verifying that every subscriber has paid the value of the shares agreed upon.
It must be filed by all companies incorporated on or after November 2, 2018, with share capital before starting any business or exercising borrowing power.
The timeline for filing INC-20A is within 180 days (6 months) from the date of incorporation of the company.
The acceptable proof of share capital payment is a bank statement showing the deposit of the paid-up share capital by the subscribers.
Changes cannot be made once INC-20A is submitted; any errors require correction through additional legal processes but the form itself is not revisable post submission.
INC-20A is not applicable to companies without share capital; only companies having share capital need to file it.