Who needs to file an INC-20A Form?

Every company incorporated in India after November 2, 2018, having a share capital, is required to file the INC-20A Form. Companies incorporated before this date or companies limited by guarantee not having a share capital are generally exempt.

What is the purpose of filing INC-20A?

The primary purpose of filing INC-20A is to declare that the company has received the subscribed share capital from its subscribers. This is a crucial step before a company can commence any business operations or exercise its borrowing powers.

Is it mandatory to file INC-20A?

Yes, it is mandatory for all applicable companies. Failure to file INC-20A can lead to penalties and even the striking off of the company's name from the Register of Companies.

What is the deadline for filing INC-20A?

The INC-20A Form must be filed within 180 days of the company's incorporation date.

What are the consequences of not filing INC-20A within the deadline?

If INC-20A is not filed within 180 days, the company will be liable for a penalty of INR 50,000. Additionally, every officer who is in default will be liable for a penalty of INR 1,000 per day during which the default continues, up to a maximum of INR 100,000. The Registrar of Companies (RoC) may also initiate action to remove the name of the company from the Register of Companies if the form is not filed.

What documents are required to be attached with INC-20A?

The key attachments typically include: Bank statement reflecting the receipt of subscription money from all subscribers. Declaration by the directors that the company has received all subscription money. Proof of registered office address (if not already filed in SPICe+). Any other relevant documents as may be specified by the MCA.

Can a company commence business operations before filing INC-20A?

No, a company cannot commence any business operations or exercise its borrowing powers before filing the INC-20A Form and obtaining the Certificate of Commencement of Business (which is implicitly granted upon successful filing of INC-20A).

What if a company doesn't receive the full subscription money within the deadline?

The company must ensure that the subscription money is received from all subscribers before filing INC-20A. If the full amount is not received, the company may face difficulties in filing the form, leading to penalties. In such cases, it's advisable to seek professional legal or company secretarial advice.

How can I check the status of my INC-20A filing?

Here's how you can check the status of your INC-20A filing: Visit the MCA Website: Go to the official website of the Ministry of Corporate Affairs (MCA). "Track SRN/Payment Status" Service: Utilize the "Track SRN/Payment Status" service available on the MCA portal. You will typically need your Service Request Number (SRN) to use this. Access Company's Master Data: You can also check the status by accessing your company's master data on the MCA website. This usually provides details about filed documents and their current status.

What is the difference between e-Form INC-21 and INC-20A?

While both forms are related to company incorporation, they serve distinct purposes. e-Form INC-20A (Declaration for Commencement of Business) is filed after incorporation to declare that the company has received the subscribed share capital and is ready to commence business operations. It's a mandatory post-incorporation filing for most companies. e-Form INC-21 (Application for Approval of Commencement of Business) was an older form that has largely been replaced or integrated into other processes. The primary form for declaring the commencement of business now is INC-20A. It's possible some specific industries or scenarios might still reference INC-21, but for general purposes, INC-20A is the relevant form for the commencement of business.

What happens after Form INC-20A is filed and approved?

Once Form INC-20A is successfully filed and approved by the Registrar of Companies (RoC), the company officially receives its "Certificate of Commencement of Business." This certificate is crucial as it legally permits the company to: Begin its business operations and activities. Exercise its borrowing powers. Enter into contracts related to its business.

Form INC-20A Filing Online in India

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