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Commencement of Business (INC 20A) New
Commencement of Business (INC 20A) New
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Commencement of Business (INC 20A) is a mandatory declaration for all newly incorporated companies in India, confirming compliance with the Companies Act, 2013, and readiness to start business operations. This form must be filed with the Registrar of Companies (ROC) within 180 days of incorporation. Failure to do so can result in penalties or the company being struck off from the Register of Companies.

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Commencement of Business (INC 20A) New

Form INC 20A has recently been introduced and is currently a topic of extensive discussion within corporate circles. According to the Companies (Amendment) Ordinance, 2018, any company incorporated in India with share capital is required to obtain a Commencement of Business Certificate prior to engaging in business operations or undertaking borrowing activities.
This certificate can be procured through the submission of Form INC-20A, which reinstates the Commencement of Business Certificate process via the Ministry of Corporate Affairs (MCA) portal. Form INC-20A mandates a declaration by the company's directors upon commencement of business activities.
Furthermore, the form necessitates verification by a practicing Chartered Accountant (CA), Company Secretary (CS), or Cost Accountant. Companies incorporated after November 2, 2018, are required to file Form INC-20A within 180 days from their date of incorporation.

Procedure for Registration

The procedure for filing Form INC-20A is outlined as follows:

Obtain Digital Signature Certificate (DSC) for the Director(s) of the Company.
Access the MCA portal using valid login credentials.
Navigate to the E-forms section and select Form INC-20A.
Complete all mandatory fields including the company name, Corporate Identity Number (CIN), registered address, particulars of directors, and the date of commencement of business.
Attach necessary documents such as bank statements, proof of paid-up capital, and a board resolution endorsing the commencement of business.
Obtain certification of the form from a practicing Chartered Accountant (CA), Company Secretary (CS), or Cost Accountant.
Submit the form electronically and remit the prescribed fees.
Upon submission, the Registrar of Companies (RoC) will scrutinize the form. Upon satisfaction with the compliance, a Commencement of Business Certificate will be issued.
It is crucial to adhere to the stipulated timeline of 180 days from the company's date of incorporation for filing Form INC-20A.

Documents Required for Commencement of Business (INC 20A) New

Certificate of Incorporation of the Company.
Memorandum of Association (MOA) of the Company.
Articles of Association (AOA) of the Company.
Bank statement evidencing receipt of subscription money from subscribers to the Memorandum of Association.
Board resolution approving the commencement of business and authorizing the filing of Form INC-20A.
Copy of PAN card of the Company.
Photograph of Registered Office showing external building and inside office also showing therein at least one Director/ KMP
Copies of identity and address proofs of the Directors of the Company.
Details of the Company’s registered office, including address, email address, and phone number.
Articles of Association (AOA) of the Company.
Details of the Company’s subscribers, including their names, addresses, and subscribed shares.
These documents must be submitted along with Form INC-20A for verification and processing by the Registrar of Companies (RoC).

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Commencement of New Business (INC-20A) FAQ's
What is Form INC-20A?
Form INC-20A is a declaration filed by a company with the Registrar of Companies (ROC) stating that it has received a certificate of commencement of business and has started its operations. This form must be filed within 180 days of incorporation for all companies, except for One Person Companies (OPCs).
Who is required to file Form INC-20A?
Every company, except a One Person Company (OPC), is required to file Form INC-20A to declare the commencement of business after obtaining the necessary registration from the ROC. This applies to both private and public limited companies.
What does Form INC-20A signify?
Form INC-20A signifies that the company has received the certificate of incorporation and has opened its bank account to start its business operations. It is a formal declaration that the company is now ready to commence its business.
Is it mandatory to file Form INC-20A?
Yes, it is mandatory for a company to file Form INC-20A. Failure to do so within 180 days from the date of incorporation can lead to penalties or the company being struck off from the ROC records.
What happens if Form INC-20A is not filed?
If Form INC-20A is not filed within 180 days from incorporation, the company may face penalties, and the Registrar of Companies may initiate proceedings to strike off the company from the register.
Can Form INC-20A be filed before the commencement of business operations?
No, Form INC-20A can only be filed after the company has officially commenced business operations. It must be filed after the company has completed the necessary steps like opening a bank account and securing any required approvals or licenses.
What documents are required for filing Form INC-20A?
The primary requirement for filing Form INC-20A is a statement from the company's directors confirming that the company has started its business operations and has a bank account. No additional documents are required unless specific circumstances arise.
Can the director file Form INC-20A on behalf of the company?
Yes, the company’s directors can file Form INC-20A on behalf of the company, and they must sign the form to confirm that the company has begun its business operations.
Is there a time limit for filing Form INC-20A?
Yes, Form INC-20A must be filed within 180 days of the company's incorporation. Failure to comply within this period will lead to the imposition of penalties and possible legal action.
Is there any difference in filing Form INC-20A for a public company versus a private company?
No, the requirement to file Form INC-20A applies to both private and public limited companies. The form is a declaration of the commencement of business, and the process remains the same for both types of companies.
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