Commencement of Business Form 20A

Commencement of Business

₹ 990


✓  Filing form 20A with ROC

✓  Drafting of Documents

✓  Expert Assistance & Advisory

Filing of Declaration for Commencement of Business

It is mandatory for the company to file Form 20A with 180 of Incorporation as declaration for commencement of Business.

➦  Filing of Documents with ROC
      We at TaxRodo will do all the filings required for required for the Commencement of Business.

  Preparation of Documents
        Our team will prepare all the Documents required for Filing of Form 20A.

Note down the Required Documents

✍ Certificate of Incorporation
✍ Subscribers proof of payment for value of shares

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Know about Filing of Declaration for Commencement of Business

A company incorporated after the commencement of the Companies (Amendment) Ordinance, 2018 and having a share capital shall not commence any business or exercise any borrowing powers unless—
(a) a declaration is filed by a director within a period of one hundred and eighty days of the date of incorporation of the company in such form and verified in such manner as may be prescribed, with the Registrar that every subscriber to the memorandum has paid the value of the shares agreed to be taken by him on the date of making of such declaration; and
(b) The company has filed with the Registrar a verification of its registered office.

If any default is made in complying with the requirements of this section, the company shall be liable to a penalty of fifty thousand rupees and every officer who is in default shall be liable to a penalty of one thousand rupees for each day during which such default continues but not exceeding an amount of one lakh rupees.

Where no declaration has been filed with the Registrar within a period of one hundred and eighty days of the date of incorporation of the company and the Registrar has reasonable cause to believe that the company is not carrying on any business or operations, he may initiate action for the removal of the name of the company from the register of companies.

FAQ’s

1. What is the time limit for filing this form?

Form 20A needs to be filed within 180 days of incorporation.

2. Is it mandatory to file form 20A?

Yes, If any default is made in complying with the requirements of this section, the company shall be liable to a penalty of fifty thousand rupees and every officer who is in default shall be liable to a penalty of one thousand rupees for each day during which such default continues but not exceeding an amount of one lakh rupees.