There is a pvt ltd company incorporated in 14 July 2022 but the they have not filled the INC 20 for commencement of business. Now that 180 days is over what would be the delay fees ? Is there any penalty on top of delay fees ?
There is a pvt ltd company incorporated in 14 July 2022 but the they have not filled the INC 20 for commencement of business. Now that 180 days is over what would be the delay fees ? Is there any penalty on top of delay fees ?
As per the Companies Act 2013, every newly incorporated private limited company is required to file a declaration of commencement of business in form INC-20A within 180 days of its incorporation date. Failure to file the form within the prescribed time limit may result in penalties and consequences.
Penalty for delay in filing INC-20A was INR 50,000. The penalty is applicable in addition to the normal fees for filing the form.
The penalty for not filling of form INC 20 A is Rs. 50,000 for the company and every officer who is in default shall be liable for a penalty of Rs. 1000 for every day for default continuous but not exceeding 1 lakh. Further ROC has the power to remove the name of the Company from Registrar of Companies
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