File eForm INC 20A: Process, Documents Required and Penalty - PowerPoint PPT Presentation

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File eForm INC 20A: Process, Documents Required and Penalty

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What is eForm INC 20A? It is a newly implemented Compliance of the Companies act 2013. It is mandatory for any company that has been registered on or before 2nd November 2018. Go through this PPT for more information. – PowerPoint PPT presentation

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Title: File eForm INC 20A: Process, Documents Required and Penalty


1
EForm INC 20ADeclaration of Commencement of
Business
2
Introduction eForm INC-20A
  • eForm INC-20A is filled to declare the
    commencement of business.
  • Introduced as Section 10A of the Companies Act
    2013.
  • https//www.registrationwala.com/form-inc-20a

3
What is eForm INC-20A?
  • FORM INC-20A is a form to be filled declaring the
    commencement of business.
  • It declares that the shareholders have paid the
    value of their initial shares as stated in MOA.
  • This form needs to be filed within 180 days after
    the company registration.
  • This form provides the company with an approval
    to commence business.

4
Who do and dont need to File the eForm INC-20A?
  • People who do need to file FORM INC 20A
  • Companies that have been registered on or after
    2nd November 2018
  • Companies that have share capital stated in their
    MOA.
  • People who dont need to file FORM INC 22A
  • Companies that have been registered before 2nd
    November 2018
  • Companies that dont have any share capital.

5
Why Filing eForm INC 20A Required?
  • It declares that the company is ready for
    business.
  • It ensures that the shareholders have paid up
    their share in company capital.
  • https//www.registrationwala.com/knowledge-base/bu
    siness-registrations/private-limited-company/certi
    ficate-of-commencement-of-business

6
What Are the Documents Required For File INC-20A
Eform?
  • The documents required to file INC 20A eForm are
    the following
  • Bank statement of the company.
  • Digital Signature Certificate of the Director of
    the company.
  • Certificate of Incorporation Number.

7
What If You Dont File INC 20A?
  • If you dont file INC 20A, then there are three
    types of penalties that you need to watch out
    for
  • Penalty on the company.
  • Penalty on Directors.
  • Company Removal.

8
Penalty on the Company
  • The company has to pay INR 50,000 if the
    directors didnt file the declaration.
  • https//www.registrationwala.com/knowledge-base/bu
    siness-registrations/private-limited-company/certi
    ficate-of-commencement-of-business

9
Penalty on the Company
  • The company has to pay INR 50,000 if the
    directors didnt file the declaration.

10
Penalty on Directors
  • Directors have to pay the penalty of INR 10,000/-
    per day with the ultimate limit of INR 1, 00,
    000/-.

11
Final Penalty to the Company
  • The company is going to be given some chances to
    file the form with the late fees. If it still
    does not comply, the following happens
  • Company strike off The company name shall be
    removed from the registry.

12
THANKS!
  • Any questions?
  • You can find us at
  • _at_Registrationwala
  • 91-8882-580-580
  • support_at_registrationwala.com
  • https//www.registrationwala.com/form-inc-20a
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