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INC20A (Commencement of Business)

Original price was: ₹3,000.00.Current price is: ₹2,600.00.

Form 20A – Declaration for the Commencement of Business

Form 20A is a mandatory declaration filed by the directors of a company to confirm the commencement of business activities. It must be verified by a Chartered Accountant (CA), Company Secretary (CS), or Cost Accountant in practice.

💡 Introduction

As per the Companies (Amendment) Ordinance 2018, companies incorporated on or after November 2, 2018, must file Form 20A within 180 days from the date of incorporation. This compliance is critical as non-filing attracts significant penalties.

📋 Companies Exempt from Filing Form 20A

1️⃣ Companies incorporated before November 2, 2018. 2️⃣ Companies incorporated after November 2, 2018, without share capital.

📅 Filing Timeline for Form 20A

Due Date: Within 180 days from the date of incorporation.

📝 Requirement and Procedure for Filing Form 20A

1️⃣ Board Resolution: Pass a resolution authorizing the filing of Form 20A. 2️⃣ Proof of Capital Deposit: Attach proof of the paid-up share capital deposited by subscribers (e.g., bank statement). 3️⃣ Sectoral Approvals (if applicable): Obtain approvals from regulators like RBI or SEBI for certain business activities. 4️⃣ Certification: Form 20A must be verified by a practicing CA, CS, or Cost Accountant. 5️⃣ File with ROC: Submit the eForm via the MCA portal, attaching the required documents. 6️⃣ Acknowledgment: Receive confirmation from the Registrar of Companies (ROC).

⚠️ Penalties for Non-Compliance

Failure to file Form 20A within the stipulated time frame attracts the following penalties:

Penalty on the Company: ₹50,000.
Penalty on Officers in Default: ₹1,000 per day for each day of default (maximum ₹1,00,000).
Strike-Off: The ROC may strike off the company’s name from the register if it is not operational after 180 days of incorporation.

💰 Filing Fees for Form 20A

For Companies with Share Capital

Nominal Share Capital	Filing Fee (₹)
Less than ₹1,00,000	200
₹1,00,000 – ₹4,99,999	300
₹5,00,000 – ₹24,99,999	400
₹25,00,000 – ₹99,99,999	500
₹1,00,00,000 and above	600

For Companies Without Share Capital

Filing Fee: ₹200

📅 Additional Fees for Late Filing

Delay Period	Applicable Fee
Up to 30 days	2 times the normal fee
31–60 days	4 times the normal fee
61–90 days	6 times the normal fee
91–180 days	10 times the normal fee
Beyond 180 days	12 times the normal fee

🚀 Why Choose AutoBizNow for Filing Form 20A?

🌟 Expert Assistance: End-to-end support from experienced professionals. 🌟 Timely Filing: Ensure on-time submission to avoid penalties. 🌟 Compliance Simplified: We handle documentation, Board Resolutions, and filing processes. 🌟 Trusted Partner: Powered by Professional Consultant Solution Planet Private Limited, ensuring accuracy and reliability.