Form INC-20A: Consequences of delay in filing



Quick Summary
Form INC-20A is a crucial declaration that companies incorporated after November 2nd, 2018, must file within 180 days of incorporation. This form confirms that shareholders have paid for their shares. Failure to file on time can result in significant penalties for both the company and its officers, with no provision for waiving or reducing these fines.

What is Form INC-20A? As per the provisions of Section 10A of the Companies Act, 2013, a Company incorporated after the commencement of the Companies (Amendment) Ordinance, 2018 (2nd November 2018) and having a share capital shall not commence any business or exercise any borrowing powers unless a declaration (INC-20A) is filedby a director within a period ofone hundred and eighty daysof the date of incorporation of the company in such form and verified in such manner as may be prescribed, wi
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Chartered Accountant

Member of ICAI since 2016

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