Form INC-20A: Declaration of Commencement of Business | Fast & Expert MCA Filing Services
Ensure complete corporate compliance and kickstart your commercial operations legally with our end-to-end form inc 20a commencement of business filing services. Under Section 10A of the Companies Act, 2013, every company incorporated with share capital after November 2, 2018, must file e-Form INC-20A with the Registrar of Companies (ROC) within 180 days of incorporation. This mandatory declaration verifies that all subscribers to the Memorandum of Association (MOA) have deposited their agreed share value into the company’s bank account and confirms a registered office address under Section 12. Failing to submit this crucial filing on time exposes the company to a severe penalty of ₹50,000, places a fine of ₹1,000 per day on directors (up to ₹1,00,000), prevents the company from borrowing money or commencing business activities, and risks triggering a strike-off by the ROC. With Corporate Mitras, our CA/CS compliance team handles bank statement verification, registered office proofing, professional attestation, and seamless MCA V3 filing—safeguarding your startup from heavy liabilities and keeping your business on the fast track to growth.
Form INC-20A: Declaration of Commencement of Business
Every company incorporated in India with a share capital after November 2, 2018, is required to file Form INC-20A. This is a mandatory declaration that the directors have received the value of shares from the subscribers to the Memorandum of Association (MoA).
Prerequisites for Filing INC-20A
1. Bank Account Opening
The company must have a functional bank account opened in its legal name.
2. Capital Infusion
Subscribers must deposit the agreed subscription money into the company bank account.
3. Registered Office Verification
Form INC-22 must be filed if the registered office address was not provided during incorporation.
Documents Required
- Bank Statement: Showing the credit entries of the subscription money received from all shareholders.
- Board Resolution: A copy of the resolution passed by the Board of Directors for the commencement of business.
- Sectoral Regulator Approval: If the company is regulated by RBI, SEBI, or IRDAI, a copy of the approval/registration is required.
- Professional Certification: The form must be digitally signed by a practicing Chartered Accountant (CA), Company Secretary (CS), or Cost Accountant (CMA).
Consequences of Non-Filing
Delaying or failing to file INC-20A can lead to severe legal repercussions:
| Type | Penalty Details |
|---|---|
| On Company | Fixed penalty of ₹50,000. |
| On Officers (Directors) | ₹1,000 per day of default, up to a maximum of ₹1,00,000. |
| Company Status | ROC may strike off the company name from the Register of Companies. |
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