form 20a mca
MCA Form INC-20A: A Comprehensive Guide to Declaration of Commencement of Business
Introduction:
The Ministry of Corporate Affairs (MCA) in India has introduced several regulatory measures to promote transparency and legitimacy in the corporate sector. One such requirement is the filing of MCA Form INC-20A, officially known as the Declaration for the Commencement of Business. This form is mandatory for companies incorporated on or after November 2, 2018, and it serves as a declaration that the company has commenced its business operations and has the necessary capital.
In this comprehensive guide, we will walk you through the details of MCA Form INC-20A, including its purpose, key information to be provided, filing process, consequences of non-compliance, and more.
Purpose of MCA Form INC-20A:
The primary objective of MCA Form INC-20A is to ensure that newly incorporated companies in India are genuinely operational and not merely shell entities. By requiring companies to declare the commencement of business and provide details of their capital, the MCA aims to enhance transparency and credibility in the corporate landscape.
Key Information to be Provided in MCA Form INC-20A:
When filing MCA Form INC-20A, companies are required to furnish the following information:
Date of Commencement of Business: Companies must specify the exact date on which they commenced their business operations. This date should fall within 180 days of incorporation.
Authorized Share Capital: The form requires details about the company’s authorized share capital, including the breakup of the number of shares and their nominal value.
Paid-up Share Capital: Companies need to disclose their paid-up share capital, which is the portion of the authorized share capital that has been issued to shareholders and for which payment has been received.
Verification: The form must be verified by a director, manager, or secretary of the company.
Consequences of Non-Filing:
Failing to file MCA Form INC-20A within the stipulated time frame can have serious consequences for the company:
Penalties: The company may be subject to significant penalties for non-compliance, including fines and additional fees for late filing.
Active Status: Non-filing can result in the company losing its active status, which affects its ability to carry out certain transactions, such as changes in authorized capital, filing for public issues, and more.
Filing Process for MCA Form INC-20A:
The filing process for MCA Form INC-20A involves the following steps:
Log in to MCA Portal: Access the MCA portal using valid credentials.
Select Form INC-20A: Navigate to the e-forms section and select Form INC-20A for filing.
Provide Information: Complete the form by providing accurate and up-to-date information, including the date of commencement of business and details of share capital.
Attach Supporting Documents: If applicable, attach supporting documents, such as a board resolution authorizing the commencement of business.
Pay Filing Fee: Pay the prescribed filing fee based on the company’s authorized share capital.
Review and Submit: Carefully review the form for accuracy and completeness. Once verified, submit the form electronically.
Acknowledgment: After successful submission, an acknowledgment of the filing will be generated. It is advisable to retain a copy of this acknowledgment for reference.
Conclusion:
MCA Form INC-20A is an essential compliance requirement for companies incorporated in India on or after November 2, 2018. It serves as a declaration of the commencement of business operations and provides details of the company’s authorized and paid-up share capital. Companies must ensure timely and accurate filing of this form to remain compliant with MCA regulations, avoid penalties, and maintain their active status in the corporate landscape.,
form-20a-mca
For more information and knowledge, read our article:
https://qwikfilings.com/firms-near-me/
https://qwikfilings.com/
business license, business, entrepreneurs, franchise, llc, starting a business, online business, incorporation meaning, self employed, companies in india, india business, drugs license, DOT license, OST License, Pollution control License, government license, drug license, ssi registration, ssi certificate, business license, license,
form 20a mca
For more information and to apply for this service, please visit our partner page:
https://calculatinggst.com/
https://cafirmsnearme.com/
https://caofficenearme.com/
https://companymasterdata.com/
form 20a mca
This article is only published for informational purposes. Please consult your Chartered Accountant or Financial Advisor before making any important financial decisions.
The images displayed here have been generated using openai chatgpt or google gemini or microsoft bing copilot or google bard or other artificial intelligence ai tools and plugins and scripts and websites and applications. You may download and use these images for your personal projects at your own discretion.
QwikFilings.com is a reputed online portal for Indian SMEs to register, grow and manage their business ventures in India. We are a group of professionals working for startups. QwikFilings.com has been founded by expert Chartered Accountants and Advocates who have a rich experience of working with startups. QwikFilings.com provides all kinds of legal & professional services such as company registration, LLP registration, trademark search and trademark registration, copyright registration, patent application, income tax return ITR filing, GST Registration and GST Filing, ISO, FSSAI, IEC and many more services. Qwikfilings.com is registered with Startup India, DPIIT Certificate of Recognition. Please visit our website to learn more www.qwikfilings.com
