INC-20A FILING
Form INC 20A has become a focal point of discussion within the corporate sector since its recent introduction. It's especially pertinent for companies incorporated in India after the enactment of the Companies (Amendment) Ordinance, 2018, and that have a share capital. These companies are now mandated to obtain a "Commencement of Business Certificate" before they can officially kickstart any business activities or exercise their borrowing powers.
In essence, what we see is the Ministry of Corporate Affairs (MCA) reintroducing the concept of the Commencement of Business Certificate, and this is achieved through the submission of Form INC-20A on the MCA portal. This certificate signifies a company's readiness to enter the business arena and ensures compliance with regulatory requirements, adding a layer of transparency and accountability to the corporate landscape.
STARTING FROM RS. 1499/-
ABOUT INC-20A
The introduction of the Companies (Amendment) Ordinance 2018 on November 2, 2018, marked a significant regulatory change. As a result, any company incorporated in India subsequent to this date is obliged to submit Form INC-20A as a mandatory requirement. This form serves as a declaration of the company's readiness to commence business operations and is a vital step in post-incorporation compliance for such companies. Filing Form INC-20A within the stipulated time frame is essential to maintain regulatory compliance and avoid potential penalties.
The government fee structure for filing Form INC-20A (Declaration for Commencement of Business) in India is as follows, based on the nominal share capital of the company:
Companies with a Nominal Share Capital up to Rs. 1,00,000: The government fee for filing INC-20A for companies with a nominal share capital of up to Rs. 1,00,000 is typically lower.
Companies with a Nominal Share Capital exceeding Rs. 1,00,000: Companies with a higher nominal share capital are required to pay a higher government fee when filing Form INC-20A.
Late Filing Fee: If a company fails to file Form INC-20A within 180 days of incorporation, it incurs a late filing fee. The late fee amount depends on the duration of the delay. The longer the delay, the higher the late fee.
DOCUMENTS FOR FILING OF INC-20A
To file Form INC-20A, the "Declaration to Commence Business," you need to ensure you have the following documents and steps in place:
Bank Statement Demonstrating Capital: You should have a bank statement of the company showcasing the capital infusion, confirming the financial readiness to commence business operations.
Digital Signature of a Director: Ensure that one of the company directors digitally signs the Form INC-20A, providing an electronic seal of authenticity.
Professional Certification by CA/CS/CMA: Obtain professional certification by a Chartered Accountant (CA), Company Secretary (CS), or Cost and Management Accountant (CMA) to validate the accuracy of the information provided in the form.
Payment of Prescribed Government Fee: Make the necessary payment of government fees as per the prescribed schedule for filing Form INC-20A.
Verify Registered Address: Double-check that the registered address of the company is accurately mentioned in the form to avoid any discrepancies.
Bank Transactions Solely for Capital: Ensure that the company's bank account reflects only capital-related transactions at this stage, as per the regulatory requirements.
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BASIC
*STAMP DUTY INCLUDED
₹ 1499/-
ALL INCLUDES
PROCESS OF DIN APPLICATION
Process of DIN Application
DOCUMENTS VERIFICATION
One of the person from our team will collect all the imformation and documents for Form 20A Filing. After reciveing documents our expert will verify the same.
APPLICATION
Once the verification is complete our team will apply for Form 20A Filing, and make payment to MCA for the same.
CHALLAN WITH DIN
After the payment challan will generate.
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