- CA. Deepanshu Soni
INC-20A form is required to be filed as per section 10A(1)(a) of the Companies Act, 2013 and Rule 23A of the Companies (Incorporation) Rules, 2014. It is mandatory to declare the commencement of business for any company via INC 20A. Without declaring the same, the company cannot start the business activities or proceed towards borrowings of funds.
When to file, Time limit, and other rules as per Section 10A?
A company incorporated after 2nd November 2018 and having a share capital shall not commence any business or exercise any borrowing powers unless -
If any default is made in complying with the requirements of this section, the company shall be liable to a penalty of ₹ 50,000 and every officer who is in default shall be liable to a penalty of ₹ 1,000 for each day during which such default continues but not exceeding ₹ 1 Lac.
Where no declaration has been filed with the Registrar within a period of 180 days of the date of incorporation of the company and the Registrar has reasonable cause to believe that the company is not carrying on any business or operations, he may initiate action for the removal of the name of the company from the register of companies.
How to fill and file form INC 20A?
Information required for filing:
Attachments to be submitted:
Declaration and Digital Signing by authorized Director:
Filing of the form:
Mandatory requirement to get the form verified before filing -
The contents of the form shall be mandatorily required to be verified before submitting by any of the below:
Fees for efiling the form –
Companies having Share Capital:
Share Capital The fee to be paid
Less than 1 Lac ₹ 200
1 Lac to ₹ 4,99,999 ₹ 300
5 Lacs to ₹ 24,99,999 ₹ 400
25 Lacs to ₹ 94,99,999 ₹ 500
1 crore or more ₹ 600
Companies not having Share Capital: ₹ 200
Fee for Delay in the filing of form –
Period of Delay The fee to be paid
Up to 30 days 2 times of normal fees
More than 30 days and up to 60 days 4 times of normal fees
More than 60 days and up to 90 days 6 times of normal fees
More than 90 days and up to 180 days 10 times of normal fees
More than 180 days 12 times of normal fees