Paperfilings
Filing Of Business Commencement Form INC-20A
As of my last update in September 2021, “Paperfiling” generally refers to the traditional method of submitting physical documents and paperwork to the relevant government authorities or agencies.
Filing of Business Commencement form INC-20A
As of my last update in September 2021, “Paperfiling” generally refers to the traditional method of submitting physical documents and paperwork to the relevant government authorities or agencies. Form INC-20A is a specific form required to be filed by newly incorporated companies in India for the declaration of commencement of business. Here are the steps involved in the filing of Form INC-20A:
1. Preparation of Documents: The company must prepare the necessary documents required for filing Form INC-20A. These documents may include the Certificate of Incorporation, Memorandum of Association (MOA), Articles of Association (AOA), and other relevant documents.
2. Bank Account Opening: Before filing Form INC-20A, the company must open a bank account in the company’s name and receive the subscription money from the shareholders as mentioned in the MOA.
3. Board Meeting: The board of directors must hold a board meeting to authorize the filing of Form INC-20A and to approve the declaration of commencement of business.
4. Declaration of Commencement of Business: The directors of the company are required to file a declaration in Form INC-20A with the Registrar of Companies (ROC) within 180 days from the date of incorporation. The form should state that every subscriber to the company’s MOA has paid the value of the shares agreed to be taken by them.
5. Certification: The declaration in Form INC-20A must be certified by a professional (Chartered Accountant, Company Secretary, or Cost Accountant) who is engaged in the formation of the company.
6. Filing with ROC: After completing the Form INC-20A and obtaining the necessary certifications, the company must file the form electronically with the ROC through the Ministry of Corporate Affairs (MCA) portal. The filing can be done using the Digital Signature Certificate (DSC) of the director signing the form.
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