Commencement of Business (INC-20A)
Mandatory declaration filed within 180 days of company incorporation. Confirms that subscribers have deposited their share capital into the company bank account.
Overview
After a company is incorporated, it cannot legally start doing business, sign contracts, or borrow money immediately. First, the subscribers (founders) must open a corporate bank account and deposit the initial share capital they committed to in the MoA. Once the money is deposited, the company must file Form INC-20A (Declaration for Commencement of Business) with the ROC within 180 days of incorporation. This form must be certified by a practicing professional.
What is Included in Our Package
Detailed compliance and filing scope managed by JRC corporate experts.
Documents Required to Start
Upload digital files during onboarding. No physical submissions needed.
Banking Proofs
- Latest Corporate Bank Statement highlighting the inward remittance of share capital from the subscribers
- Certificate of Registration (if the company requires sector-specific approval like RBI/SEBI)
Corporate Authorizations
- Digital Signature Certificate (DSC) of the Director
- Board Resolution approving the filing
Step-by-Step Filing Timeline
Our step-by-step advisory workflow.
Step 1: Bank Account Opening
Post incorporation, you open the corporate current account using the COI, PAN, and MoA.
Step 2: Capital Deposit
The founders transfer the exact subscription amount from their personal accounts to the corporate account.
Step 3: INC-20A Preparation
We prepare Form INC-20A, attaching the bank statement as proof of receipt.
Step 4: Professional Certification & Filing
Our Practicing CA/CS verifies the bank statement, certifies the form, and files it on the MCA portal.
Key Advantages of Timely INC-20A Filing
INC-20A is the final step to fully operationalize your company.
Enable Business Operations
Without INC-20A, the company cannot legally execute vendor contracts, raise loans, or make investments.
Prevent Immediate Strike-Off
If INC-20A is not filed within 180 days, the ROC has the power to assume the company is a shell entity and initiate strike-off proceedings (closure) immediately.
Avoid Heavy Penalties
The company is liable for a penalty of Rs. 50,000, and every defaulting director is liable for Rs. 1,000 per day if the form is not filed.
Frequently Asked Questions
Helpful answers to common regulatory inquiries.
Can we deposit the capital in cash?▼
No. It is highly recommended and standard practice to transfer the subscription money via banking channels (NEFT/RTGS/IMPS) from the personal accounts of the respective subscribers to ensure a clear audit trail.
What happens if we cross 180 days?▼
You can still file the form, but it will attract significant ad-valorem late fees. If delayed excessively, you run the severe risk of the ROC issuing a strike-off notice.
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Corporate filings managed directly by certified Chartered Accountants & Company Secretaries.
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