INC-20A Filing (Commencement of Business)
Mandatory Declaration to Start Business OperationsWhat is Form INC-20A?
Form **INC-20A** (Declaration for Commencement of Business) is a mandatory filing for all companies incorporated after November 2, 2018 (excluding OPCs and Nidhi Companies that comply within 1 year).
This form confirms to the **MCA** that the directors have received the **full subscription money** from shareholders as mentioned in the Memorandum of Association (MOA), making the company legally authorized to **commence business operations**. Failure to file within 180 days results in heavy penalties and potentially striking off the company's name.
Key Requirements
- **Deadline:** Within **180 days** of Incorporation.
- **Key Attachment:** Bank statement showing subscription money received.
- **Penalty for Delay:** ₹50,000 to the Company and ₹1,000 per day for directors.
- **Certification:** Required by a CA or CS.
Cashynomy's INC-20A Filing Process
Bank Account Opening
Assistance in opening the company's current bank account immediately after incorporation.
Subscription Money Deposit
Deposit of the subscribed share capital amount into the company's new bank account.
Form Filing & Certification
Preparation and filing of Form INC-20A, attaching the bank statement and getting professional certification (CA/CS).
Commencement Approval
Once approved by MCA, the company is legally permitted to borrow, lend, and begin commercial activities.
INC-20A Filing Package
Ensure timely compliance and avoid severe penalties for delaying Commencement of Business filing:
Commencement Filing
- ✔ Bank Account Opening Assistance
- ✔ Verification of Subscription Money
- ✔ Preparation of Board Resolution
- ✔ Professional CA/CS Certification
- ✔ Online Filing of Form INC-20A