Filing of Certificate of Business Commencement (e-Form 20A)

Filing of Certificate of Business Commencement (e-Form 20A)

Filing the Certificate of Business Commencement (e-Form 20A) is a mandatory requirement for all newly incorporated companies in India, as per the Companies Act, 2013. This filing must be completed within 180 days from the date of incorporation to certify that the company has received the initial subscription amount from its shareholders and is ready to commence its business operations. The process involves submitting e-Form 20A through the Ministry of Corporate Affairs (MCA) portal, which includes providing details such as the company's authorized and paid-up share capital, the name and address of the subscribers, and a declaration by a director confirming receipt of the subscription money. Additionally, a bank statement or other proof of receipt of the subscription amount must be attached. Timely filing of e-Form 20A is crucial, as failure to do so can result in penalties and the company's name being struck off from the registrar of companies. Ensuring compliance with this requirement not only fulfills legal obligations but also demonstrates the company's readiness and commitment to conducting its business in accordance with regulatory standards.