All About Form INC 20A
What is Form INC-20A?
Declaration prior to the commencement of business or exercising borrowing powers has to file in Form INC-20A.
- eForm INC-20A is required to be filed pursuant to Section 10A(1)(a) of the Companies Act, 2013 and Rule 23A of the Companies (Incorporation) Rules, 2014.
According to Section 10A(1), (a) of the Companies Act, 2013, a company that is incorporated after the commencement of the Companies (Amendment) Ordinance, 2018 and who has a share capital cannot commence any business or exercise any borrowing powers unless-
(a) a declaration is filed by a director within a period of 180 days of the date of incorporation of the company in such form and verified, 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.
According to Rule 23A of the Companies (Incorporation) Rules, 2014: Declaration at the time of commencement of business - The declaration under section 10A by a director should be in Form No, lNC-20A and filed as provided in the Companies (Registration Offices and Fees) Rules, 2014 and the contents of the said form are verified by a Company Secretary or a Chartered Accountant or a Cost Accountant, in practice.
Due Date of Form INC-20A
- The due date for filing the Commencement of business and exercising borrowing powers is 180 days from the date of incorporation of the company.
The Companies (Registration of offices and Fees) Rules, 2014
- Fee for filing Forms or documents in case of the company has a share capital.
Nominal Share Capital
Less than 1,00,000
1,00,000 to 4,99,999
5,00,000 to 24,99,999
25,00,000 to 99,99,999
1,00,00,000 or more
- A company without a share capital: Rs. 200 per document.
- Additional Fees Rules
Period of delays
Up to 30 days
2 times of normal fees
More than 30 days and up to 60 days
4 times the normal fees
More than 60 days and up to 90 days
6 times the normal fees
More than 90 days and up to 180 days
10 times of normal fees
More than 180 days
12 times of normal fees