Form INC 20A is a mandatory declaration filed by the directors of a company at the commencement of business. This form must be verified by a practicing Chartered Accountant (CA), Company Secretary (CS), or Cost Accountant.
As per the Companies (Amendment) Ordinance, 2018, introduced on November 2, 2018, any company incorporated after this date is required to file Form INC 20A within 180 days from the date of incorporation.
| Nominal Share Capital | Applicable Fees (INR) |
|---|---|
|
Where share capital is less than ₹1,00,000 |
200 |
|
₹1,00,000 or above but not exceeding ₹4,99,999 ₹5,00,000 or above but not exceeding ₹24,99,999 ₹25,00,000 or above but not exceeding ₹99,99,999 ₹1,00,00,000 or above |
300 400 500 600 |
| Period of Delay | Late Fees (Multiples of Normal Fees) |
|---|---|
|
Up to 30 days |
2 times
|
|
More than 30 days and up to 60 days More than 60 days and up to 90 days More than 90 days and up to 180 days More than 180 days |
4 times
6 times 10 Times 12 Times |
Form INC-20A is a declaration filed by a company incorporated after November 2, 2018, to confirm the commencement of its business. Filing this form is mandatory within 180 days from the company's incorporation.
Details such as the company's PAN, registered office address, proof of deposit of subscription money, and bank statement are required while filing Form INC-20A.
Form INC-20A can be downloaded directly from the official Ministry of Corporate Affairs (MCA) portal.
The due date for filing Form INC-20A is within 180 days from the incorporation date of the company.
In the absence of a bank statement, alternate proofs such as a certificate of receipt of subscription money issued by the bank may be submitted.
Registrar Action: The Registrar may initiate action to strike off the company’s name. Borrowing Restrictions: The company will not be allowed to borrow money. Business Operations: The company will not be permitted to start its business operations.
Apart from Form INC-20A, companies must comply with annual filing requirements such as filing financial statements, annual returns, GST filings, and income tax returns. Yes, we offer yearly compliance packages tailored to your business needs.
Feel free to reach out to our experts for a free consultation and clarity on the process.
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