Commencement of Business Filing (INC-20A)

Overview

INC-20A is a mandatory post-incorporation declaration that Taxeto files with the Ministry of Corporate Affairs to confirm a company has received its subscription capital from shareholders and is ready to commence business operations, as required under the Companies Act, 2013. Taxeto verifies the bank statement showing capital receipt and files the form within 180 days of incorporation so the company can legally start operations and access banking facilities.

Benefits

• Grants the company legal permission to start business operations
• Ensures completion of a key statutory compliance requirement
• Enables company bank transactions and borrowing eligibility
• Improves transparency and prevents misuse of shell companies

Eligibility

• Company must have share capital
• Must have received subscription money from shareholders
• Must have a registered bank account
• Applicable to companies incorporated after 2nd November 2018

Documents Required

1. 1Bank statement showing receipt of capital
2. 2Subscriber proof
3. 3Certificate of Incorporation
4. 4Board resolution (if applicable)
5. 5DSC of the director

Process

1. 1

   Deposit Share Capital

   Shareholders deposit subscription money into the company account.

2. 2

   Open Bank Account

   Company opens its current bank account.

3. 3

   Prepare Declaration

   File details confirming receipt of capital.

4. 4

   File Form INC-20A

   Submit the form on the MCA portal within 180 days of incorporation.

5. 5

   Approval

   Company receives acknowledgment confirming commencement.

Frequently Asked Questions