Filing of Form 20A

Form 20A is a declaration filed by newly incorporated companies in India, confirming the commencement of business. It must be submitted to the Registrar of Companies (RoC) within 180 days of incorporation, as mandated by the Companies Act, 2013. Filing this form is essential to legally start business operations.

 
 
 
 
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    Overview

    Form 20A is a declaration of commencement of business that must be filed by all companies incorporated in India after the Companies (Amendment) Ordinance, 2018. According to Section 10A of the Companies Act, 2013, every company with a share capital is required to file Form 20A with the Registrar of Companies (RoC) within 180 days from the date of incorporation. This filing confirms that the company has received the value of shares agreed to be paid by the subscribers of the Memorandum of Association.

    Form 20A must be digitally signed by a director and certified by a practicing professional such as a Chartered Accountant, Company Secretary, or Cost Accountant. Along with the form, companies must attach a bank statement or other proof showing receipt of subscription money.

    Non-compliance with Form 20A filing can result in penalties for the company and its officers. Moreover, the company cannot commence business or borrow funds until this declaration is filed. The Registrar may also remove the company’s name from the register if the form is not submitted within the required period.

    Filing Form 20A ensures regulatory compliance and legally permits the company to start its operations in India.

    Eligibility

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    Filing of Form 20A is a mandatory requirement under the Companies Act, 2013 in India for all companies incorporated after 2nd November 2018. It is a declaration of commencement of business filed by a director within 180 days of incorporation.

    📑 Documents Required for Filing Form 20A in India:

    1. Board Resolution

      • Authorizing a director to file Form 20A on behalf of the company.

    2. Bank Account Proof of the Company:

      • Any one of the following is required:

        • Bank statement with company name and transactions.

        • Certificate from the bank stating that the company has deposited the paid-up share capital.

        • A valid cheque copy showing the company name.

    3. Subscribers’ Payment Proof:

      • Evidence showing that the subscribers to the Memorandum of Association (MoA) have paid the value of shares.

      • Bank proof like deposit slip, NEFT/RTGS receipt, or bank statement.

    4. Certificate of Incorporation (auto-attached by MCA)

    5. Declaration by Director:

      • That the company has received the subscription money from all subscribers.

      • Usually filed within the Form 20A.

    ✅ Important Notes:

    • Only applicable for companies having share capital.

    • No need to file for companies without share capital.

    • Penalty for Non-filing:

      • ₹50,000 for the company.

      • ₹1,000/day (max ₹1 lakh) for the directors.

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