BUSINESS COMMENCEMENT FILLING

According to the Companies (Amendment) Ordinance 2018, there is a need for all the companies registered on or after 2 November 2018 to file a certificate of business commencement. Form 20A is a form of declaration filed by the directors within 180 days of the date of incorporation of the company. This is one of the most imperative compliances to follow because the penalties for non-filing is extremely high. The newly rolled out and most discussed among the corporate is Form INC-20A.

 

Those Companies registered in India after the commencement of the Companies (Amendment) Ordinance, 2018 and having share capital is required to obtain the commencement of business certificate before commencing any business or exercising any borrowing powers. One can say that the Ministry has reintroduced the concept of Commencement of Business Certificate via Form INC-20A on MCA.

Form 20A is a declaration that needs to be filed by the company’s directors and it should be verified by a Chartered Accountant or Company Secretary or a Cost Accountant in practice.

Frequently Asked Questions​

Every company required to file form 20A shall file the same within 180 days of its incorporation.

A certificate of business commencement needs to be obtained within 180 days from the date of incorporation and an e-Form need to be filed with the concerned Registrar of Companies regarding the same. A declaration under section 10A from the directors need to be provided in the form of a Board Resolution in the e-Form itself. Additionally, a proof of deposit of the paid-up share capital by the subscribers also requires to be attached with the e-Form. The form needs to be verified &certified by a practising professional before filing with the ROC.

According to The Companies (Amendment) Ordinance, 2018, all the Companies registered in India & having a share capital is needed to obtain business commencement certificate before commencing any business or exercising any borrowing powers. The Companies (Amendment) Ordinance 2018 was introduced in November 2nd, 2018 so any company incorporated after this date would be required to obtain Commencement of Business Certificate.

Subscribers proof of payment for value of shares which are Bank statement of company having all credit entries for receipt of subscription money received from all subscribers to MOA.

These categories of companies are exempted from filing form 20A, which are as follows:

  1. A company incorporated before the commencement of Companies (Amendment) Ordinance 2018, i.e., 2nd November 2018.
  2. A company without share capital which has been incorporated after 2nd November 2018.

If anyone not filling for form INC 20A, these consequences can take place:

  1. Registrar may initiate action for the removal of the name of Company
  2. Company cannot borrow money
  3. Company cannot start business

Process of filing form INC 20A

Company Bank Account

The first step is to open a company bank account (or a current account) for all its financial transactions. For this following document are required: – Certificate of Incorporation MoA (Memorandum of Association) AoA (Articles of Association) Permanent Account Number (PAN)and Know Your Customer details of the company director/s

Collection of The Capital

The company requires to collect the capital invested by the company shareholders, as mentioned in the final page of the company’s MoA, including the list of shareholders & amount invested by each.

Deposit Capital Share

Once the capital invested by each shareholder is collected, it is deposited into the company bank account. Now, before filing a declaration of commencement of the business, the company need to acquire a certified copy of the bank statement, showing proof of deposit.

File Form Inc 20A

This is the final step, the declaration of the commencement of business is made by filing form INC 20A. The form is digitally signed by the company directors & then certified by a valid CA or CMA.

Get CA Mantra’s Legal Assistance to File Form INC 20A in an Easy Manner.

Why Select Us?

OUR STRENGTH LIES IN PROVIDING REAL WORLD PRACTICAL SOLUTIONS

STRICT
TIMELINE

Our foremost priority is to provide Instant Support and are always very particular on adherence of timely delivery so that you don’t miss out on deadline. We have worked with some most time strict clients and we have never missed our target. Our one thumb rule says that “If we miss a deadline we are out”. Accounts and Finance function need always alert eagle eye approach!

MINIMUM
COST

Our prices are most reasonable and under budget that you never realize any cost burden in your organization in comparison of value addition we bring in. We believe in adoption of your business first and fee shall take care of itself mantra. We never bill for disappointment and take ownership. It is how we like to be treated and that is how our customers are served.

ONE STOP
SOLUTION

We at AVS & Associates only recruit experienced, skilled professionals who have proven expertise in their field. With a diverse Team of Chartered Accountants, Company Secretaries, Lawyers, and various other consultants on board, we offer end to end financial and legal service under one roof saving time and energy and bring synergy effect between various functions.

TRUST & RELIABILITY

Having over 20+ years experience in the leadership team ensure we maintain highest ethical standards and never go out of trust with you. We always believe in long term relationship with our clients hence integrity is something we value the most. We ensure transparency in communication, service and cost. Our specialized experts helps in maintaining high quality.

Don't believe us? See our Google ratings!

SAM GETSUGA
SAM GETSUGA
2020-09-06
Verified
AVS and associates is extremely professional. They take care of all The things abiding by law and integrity whether it’s a tax management or company registration. They have registered a company and took care of the taxes without me breaking a sweat, they took care of everything proactively. I’m extremely satisfied and would recommend to anyone and everyone.
Kavita Sharma
Kavita Sharma
2020-09-02
Verified
AVS and associates is a very professional team. They handle all things abiding by law and takes out your burden of tax management , assets and all very very precisely up to the point. It’s great working with the team.
Laxmi Kant Thakur
Laxmi Kant Thakur
2020-08-28
Verified
Chrishans Media
Chrishans Media
2020-03-03
Verified
Hitesh Gurditta
Hitesh Gurditta
2020-03-01
Verified
Anish kumar
Anish kumar
2020-02-29
Verified
chiranjibi shah
chiranjibi shah
2020-02-29
Verified
A wonderful experience with the team for the easy way out solutions of taxation and related matters...Thanks
Sanjay Thakur
Sanjay Thakur
2020-02-29
Verified
Best place to work....Thanks Binay Sir...
Sarbendra Yadav
Sarbendra Yadav
2020-02-28
Verified
RAVIRANJAN KUMAR
RAVIRANJAN KUMAR
2020-02-28
Verified
DR V K Arora
DR V K Arora
2020-09-06
Verified review
AVS & Associates is a reliable CA firm of Delhi NCR. My company Management Associates Private Limited is taking their services from last ten years. Shri. V K Agrawal of AVS & Associates is knowledgeable, friendly and honest person.
Andrew Samta
Andrew Samta
2020-09-02
Verified review
had a nice experience with AVS. was in a urgent need of some income tax related docs and these guys helped out in really quick time. thanks, and would recommend anyone planning to avail their services....
chiranjibi shah
chiranjibi shah
2020-02-29
Verified review
A wonderful experience with the team for the easy way out solutions of taxation and related matters...Thanks
Amitabh Kulshreshtha
Amitabh Kulshreshtha
2020-09-02
Verified review
I appreciate the fastest way of services by AVS. Till now we got registered around 6 group companies,(Limited, Private Limited and LLP). Their Teams approach to deal with us was something I liked most. Special mention to Mr. Rahul and Ms. Neha. Guys, frankly speaking initially i was in doubt whether to trust these people or not? but once spoke and saw the way they handled my companies formation work, they ended up forming our all group companies and now handling the regular Accounting, Taxation, GST etc... If you are searching for a CA for all your needs, i suggest you may pick these guys and can assign one task before you make any opinions. BTW, we are availing their services since last 3 years. Thanks!
Kavita Sharma
Kavita Sharma
2020-09-02
Verified review
AVS and associates is a very professional team. They handle all things abiding by law and takes out your burden of tax management , assets and all very very precisely up to the point. It’s great working with the team.
Saurabh Verma
Saurabh Verma
2020-02-29
Verified review
I used their services for capital gain calculation and on many other factors to sell my flat in Noida while I'm here in Australia. Mr Vishnu is the man you need. Very professional, prompt replies and went an extra mile to do the job. Highly recommended.
Raj Malhotra
Raj Malhotra
2020-02-29
Verified review
Some highly talented group of indivisuals who do really care for customer satisfaction
Thefairyforce
Thefairyforce
2020-02-29
Verified review
I'm very satisfied with the service here. They have a very good behavior towards us and they listen to our problems closely and give the best solution. If you're starting up or running a business already I would recommend you to come here they are awesome!
Arpit Mathur
Arpit Mathur
2020-02-29
Verified review
There is environment and relation of every employee is very good. Management and discipline is very tough.
Singh Robin
Singh Robin
2020-02-29
Verified review
Highly Professional team. Really appreciate the way team coordinated & made everything easy for me. Thank you & wish you all the very best. Cheers.
ezam zaidi
ezam zaidi
2020-02-29
Verified review
Have been very cooperative. Proactive with every step. The team was patient and they made sure the entire process flow was smooth.
Manish Sharma
Manish Sharma
2020-02-29
Verified review
I got my company registered with avs. I am happy with their services and it was done quickly and in cost effective manner. Recommend anyone want to avail their services.
Pranav Tripathi
Pranav Tripathi
2020-02-29
Verified review
Vishnu ji has been with our company for the past 10 years with many different companies . Soft spoken, humble and a thorough professional.
Kishore Kundan
Kishore Kundan
2020-02-29
Verified review
Very fast service with cost effective..Agarwal sir behavior is very supportive.. I will suggest all to take services from AVS..
Sushil Kumar Raj
Sushil Kumar Raj
2020-02-29
Verified review
I would say they are the best for new company and start ups, the way they deal with person who do not have any idea about setting up of new company is remarkable....