mallika singh sex letmejerk.fun all indian aunties sex videos
sexygirlsvideos hdporn.tech luxure porn tv
hush pass.com redwap.website indian porno
indian first night porn videos 4tube.space panjbi sex com
hindiliks4u tubeskanks.com auntysexy
mallu hot aunty images anysex.website hd dehati video
badmsti porngo.space telugu porno
xveeios netporn.online nude boobs xxx
ipornt turkishhdporn.pro sex in karnataka
kamaveri tamil indiansexmovies.mobi assam sax
antarwsna porneff.com sexiest bollywood
indian xnxx videos joxnxx.com watch8x
xnxx english camsearch.pro bhabhi ka bf
porn hd hindi indiapornvids.pro nivetha pethuraj xxx
kannada village sex videos tubesafari.pro hindi sexy porno video
Are you facing any legal problems? Don't worry, Experts Lawyers available

What is Form INC-20A?

Form 20A – Declaration for the Commencement of Business

Form 20A is a declaration that needs to be filed by the directors of the company at the time of the commencement of the business. It should be verified by a Chartered Accountant (CA) or Company Secretary (CS) or a Cost Accountant in practice.

Introduction

As per the Companies (Amendment) Ordinance 2018, there is a requirement for all the companies registered on or after 2 November 2018 to file a certificate of commencement of business. Form 20A is a declaration filed by the directors within 180 days of the date of incorporation of the company. This is one of the most important compliances to follow as the penalties for non-filing is extremely high.

Companies which are not required to file Form 20A

The following companies are not required to file form 20A:

  • Companies incorporated before 2 November 2018.
  • Companies incorporated after 2nd November 2018 without share capital.

The time period for filing Form 20A

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

Requirement and procedure

A certificate of business commencement has to be obtained within 180 days from the date of incorporation and an eForm has to be filed with the concerned ROC (Registrar Of Companies) regarding the same. A declaration under section 10A from the directors has to be provided in the form of a Board Resolution in the eForm itself. In addition to this, a proof of deposit of the paid-up share capital by the subscribers also needs to be attached in the eForm. If a company pursues objects requiring registration or approval from any sectoral regulators such as The Reserve Bank of India and Securities and Exchange Board of India etc, then it shall obtain such registration or approval along with the attached declaration. The eForm has to be verified and certified by a practising professional before filing with the ROC (Registrar Of Companies).

Penalties for Default

The penalties for non-compliance are very high which has been done intentionally so as to curb out the number of shell companies incorporated. Following are the penalties for non-compliance:

  • Penalty to be levied on the company: A penalty of Rs 50,000 will be levied on the company if it fails to comply with the mentioned requirement.
  • Penalty to be levied on the officers: Every such officer in default shall be liable to a penalty of Rs 1,000 per day for each day during which the default continues subject to a maximum of Rs 1,00,000.
  • Company strike-off: If the Registrar has reasonable grounds to believe that the company is not carrying on any business or operations even after 180 days of incorporation, the registrar may remove the name of the company from the Register of companies.

Our Contact Details:

Sujay Kumar Pramanik

(Legal Executive)

158, Dumdum Road, Kolkata – 700074, Beside Ghosh Para SBI E-Corner, Landmark – Dumdum Hanuman Mandir,

Call: +91 6289064067/ 9339055647

Email: sujaypramanik2016@gmail.com

Web: www.bpramanikassociates.com

About the Author

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts