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File Commencement of Business Certificate.
Get your certificate now.Price starting from INR 1499/- only.
On filing the E-Form INC-20A within 180 days the company will then be eligible to exercise the borrowing powers.
The maximum penalty prescribed for Not filing of eFORM INC-20A till the expiration of 180 days from the date of company formation is ₹ 1 lakhs.
Also, after 180 days of incorporation, if the Registrar has reasonable cause to believe that the company is not carrying on any business or operations, he/she may initiate action for the removal of the name of the company from the register of companies
♦ Bank Account statement of Company having all credit entries for receipt of subscription money received from all subscribers to MOA.
♦ Certificate of Incorporation
♦ Digital Signature of Director
Every company that is incorporated on or after 02/11/2018 and having a share capital is required to file INC 20A
Companies that are limited by guarantee i.e. the ones not having share capital or the ones incorporated before 02/11/2018 are not required to file it.
Yes, it is mandatory to file Declaration of Commencement of Business by filing form 20A; to establish that the company has received the paid up share capital amount and is eligible to start its business and borrow money in its name.
The due date for filing the declaration is within 180 days from the day of company incorporation.
Declaration that all the subscribers to the MOA have remitted the total value of the shares agreed to be taken by them in the Companies Bank Account.
Valid payment proof like NEFT / IMPS receipts.
-> Registrar may initiate action for the removal of the name of Company.-> Company cannot borrow money.-> Company cannot start business.
The Bank Account statement of a Company having all credit entries for receipt of subscription money received from all subscribers to MOA is to be attached with the form.
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