How to File INC-20A Commencement of Business Declaration

Every company incorporated in India after 2 November 2018 with share capital must file Form INC-20A with the Registrar of Companies (ROC) before it can legally commence business operations. This declaration, mandated under Section 10A of the Companies Act, 2013 (inserted by the Companies (Amendment) Ordinance, 2018), confirms that every subscriber to the Memorandum of Association has paid the value of shares they agreed to take at the time of incorporation. The filing must be completed within 180 days from the date of incorporation on the MCA V3 portal. The government fee is ₹200, no professional certification is needed, and only one director's Class 3 DSC is required. Failure to file INC-20A within the deadline attracts a company penalty of ₹50,000, a daily penalty of ₹1,000 on each officer in default (up to ₹1,00,000), and exposes the company to potential strike off action by the ROC under Section 248(1)(c) of the Companies Act, 2013.

What is INC-20A (Declaration of Commencement of Business)?

Form INC-20A is the prescribed form under Section 10A of the Companies Act, 2013 through which a newly incorporated company declares to the Registrar of Companies that it has received the subscription money from all its subscribers and is ready to commence business operations. The form serves as a formal verification that the company has genuine paid-up capital and is not a shell entity created without any financial commitment from its promoters.

Section 10A(1) of the Companies Act, 2013 states: "A company incorporated after the commencement of the Companies (Amendment) Ordinance, 2018 and having a share capital shall not commence any business or exercise any borrowing powers unless" two conditions are fulfilled. First, under Section 10A(1)(a), a director of the company must file a declaration in the prescribed form (INC-20A) with the Registrar within 180 days of the date of incorporation, verifying that every subscriber to the Memorandum has paid the value of the shares agreed to be taken by him. Second, under Section 10A(1)(b), the company must file a verification of its registered office within 30 days in Form INC-22 (though this is often completed during SPICe+ filing itself through AGILE-PRO).

The amendment was introduced to address the problem of dormant shell companies. Before 2018, the Ministry of Corporate Affairs (MCA) identified thousands of companies that were incorporated but never commenced any business activity. These entities were being misused for layering transactions, round-tripping funds, and creating fictitious business trails. By requiring every new company to prove that its subscribers have actually paid their committed share capital, Section 10A ensures a baseline level of financial legitimacy for every newly incorporated entity.

It is important to understand what INC-20A is not. INC-20A is not a license or permission to operate a specific type of business. It is not a substitute for sector-specific registrations such as GST, FSSAI, or trade license. It is a one-time declaration confirming that the company's founding capital has been received and deposited. Once filed, INC-20A never needs to be filed again for the same company, regardless of any future changes in share capital, directors, or registered office.

Who Must File INC-20A?

Section 10A applies to a specific category of companies. Understanding whether your company falls within its scope is the first step before initiating the filing process.

Companies That Must File INC-20A

For a typical Private Limited Company incorporated through SPICe+ in 2025 or 2026, the subscribers listed in the MOA must pay the nominal value of shares they agreed to take. If the company was incorporated with ₹1,00,000 authorised capital divided into 10,000 equity shares of ₹10 each, and two subscribers took 5,000 shares each, each subscriber must pay ₹50,000 to the company within 180 days. This subscription amount is then deposited into the company's bank account, and the bank statement serves as proof for INC-20A.

For an OPC, the single member (who is also typically the sole director) subscribes to the entire initial share capital. The same member deposits the amount into the company bank account and files INC-20A using their DSC.

INC-20A Due Date and Deadline

The deadline for filing Form INC-20A is 180 days from the date of incorporation of the company. The date of incorporation is the date printed on the Certificate of Incorporation issued by the ROC after approval of the SPICe+ application.

How to Calculate the 180-Day Deadline

Count 180 calendar days (not working days) from the date of incorporation. For example:

• Date of incorporation: 15 January 2026
• 180-day deadline: 14 July 2026
• INC-20A must be filed on or before 14 July 2026

The 180 days are counted from the date of incorporation, not from the date of bank account opening, not from the date of receiving the physical certificate, and not from the date of starting business operations. Many new company founders mistakenly believe the clock starts when they open their bank account. This is incorrect. The 180-day period begins from the date on the Certificate of Incorporation, regardless of when the bank account is opened or when subscription money is collected.

There is no provision under the Companies Act, 2013 to extend the 180-day deadline for INC-20A. The ROC does not grant extensions, and no application form exists for requesting additional time. If the company needs more time to collect subscription money or open a bank account, these activities must be completed within the 180-day window. Given that bank account opening can take 5 to 15 working days and subscription money collection depends on subscriber availability, it is advisable to start the process within the first 30 days of incorporation.

Documents Required for Filing INC-20A

INC-20A is one of the simplest MCA filings in terms of documentation. Unlike most other forms that require multiple attachments and professional certifications, INC-20A requires only one mandatory attachment and no professional certification.

Bank Statement vs Bank Certificate: Either document is acceptable. A bank statement is a computer-generated document showing all transactions in the company's account, including the credit entries for subscription money. A bank certificate is a formal letter on the bank's letterhead, signed by an authorised bank officer, confirming the amount deposited and the depositors' names. A bank certificate is more formal and clearly states the purpose, but a certified bank statement showing the subscription deposits is equally valid for INC-20A filing.

No Chartered Accountant (CA) or Company Secretary (CS) certification is required for INC-20A. The director filing the form makes the declaration personally by affixing their DSC. This makes INC-20A one of the few MCA forms that a company can file entirely on its own without engaging any professional.

Step-by-Step INC-20A Filing Process

The complete INC-20A filing process involves 8 steps. Steps 1 to 4 are preparatory steps completed offline, and Steps 5 to 8 are the online filing steps on the MCA V3 portal. The entire process can be completed in a single day if the bank account is already open and subscription money is already deposited.

Step 1: Ensure All Subscribers Have Paid Their Share Capital

The foundation of the INC-20A declaration is the verification that every subscriber named in the Memorandum of Association has paid the full value of shares they agreed to take at the time of incorporation. This is the core requirement of Section 10A(1)(a).

For a standard Private Limited Company incorporated through SPICe+ with ₹1,00,000 authorised capital (10,000 shares of ₹10 each) and 2 subscribers holding 5,000 shares each:

• Subscriber 1 must pay: 5,000 shares x ₹10 = ₹50,000
• Subscriber 2 must pay: 5,000 shares x ₹10 = ₹50,000
• Total subscription amount: ₹1,00,000

Each subscriber must transfer the exact amount (or more, if shares are issued at a premium) to the company. The payment should be made through banking channels (NEFT, RTGS, IMPS, cheque, or demand draft) to maintain a clear record. Cash deposits are technically valid but create complications during bank verification and tax scrutiny. Each payment should be clearly identifiable in the bank statement with the subscriber's name or reference number.

If the company was incorporated with a higher authorised capital (e.g., ₹10,00,000 or ₹25,00,000), the subscription amount will be proportionally higher. Each subscriber must pay for the exact number of shares they subscribed to in the MOA. Partial payment is not acceptable for INC-20A purposes. Every subscriber must pay the full value before the form can be filed.

Step 2: Deposit Subscription Money in Company Bank Account

The subscription money collected from all subscribers must be deposited into a current account opened in the company's name at a scheduled bank. The bank account must be in the name of the company (matching the name on the Certificate of Incorporation), not in the name of any director or subscriber personally.

To open a company current account, submit the following documents to the bank:

• Certificate of Incorporation (self-attested copy)
• PAN card of the company (received through SPICe+ process)
• Memorandum of Association and Articles of Association
• Board Resolution authorising the bank account opening and nominating signatories
• KYC documents of all directors (PAN, Aadhaar, address proof, photograph)
• Proof of registered office address (utility bill, rent agreement, NOC from owner)

Most scheduled banks take 5 to 15 working days to open a company current account after submission of all documents and completion of physical verification. Banks such as HDFC, ICICI, and SBI often require the INC-20A filing receipt before activating the current account for full operational transactions. In such cases, the bank opens the account and allows subscription money deposits but restricts other transactions until INC-20A proof is provided. This is a bank-level policy, not an MCA requirement.

Once the account is open, deposit the subscription money. Each subscriber should transfer their share from their personal bank account to the company account. The transfer should clearly reference the subscriber's name or "subscription money" in the narration for easy identification in the bank statement.

Step 3: Obtain Bank Statement or Bank Certificate as Proof

After all subscription money is deposited, request a certified bank statement or a bank certificate from the company's bank. This document serves as the mandatory attachment for INC-20A on the MCA V3 portal.

Certified Bank Statement: Request the bank to issue a stamped and signed bank statement covering the period from account opening to the date of the subscription money deposit. The statement should clearly show the credit entries for each subscriber's payment. Ask the bank to stamp each page with the branch seal and the authorised signatory's signature. Many banks provide digitally signed statements through net banking, which are also accepted.

Bank Certificate: Request a formal letter on the bank's letterhead confirming: (a) the company's current account number and branch details; (b) the total amount deposited as subscription money; (c) the dates of deposit; and (d) that the funds are currently available in the account. The letter should be signed by the branch manager or authorised officer with the branch stamp. A bank certificate is particularly useful when the bank statement contains many transactions and the subscription deposits are not immediately obvious.

Convert the bank statement or certificate to PDF format for upload to the MCA V3 portal. The file size limit on the MCA portal is typically 2 MB to 6 MB per attachment. Scan physical documents at 200 to 300 DPI for clear, readable copies. If the bank provides a digital statement, save it directly as PDF.

Step 4: Prepare the Director's Verification Declaration

The director filing INC-20A makes a declaration within the form itself that every subscriber to the Memorandum has paid the value of shares agreed to be taken by them. This declaration is not a separate document. It is embedded in the INC-20A form on the MCA V3 portal.

Before starting the online filing, the Board of Directors should pass a Board Resolution authorising a specific director (identified by name and DIN) to file Form INC-20A, sign the declaration, and affix their DSC on behalf of the company. While this Board Resolution is not a mandatory MCA attachment for INC-20A, it is a good corporate governance practice and serves as internal authorization for the filing.

The signing director should verify the following before making the declaration:

• Every subscriber listed in the MOA has paid the full value of shares agreed to be taken
• The subscription money is deposited in the company's bank account (not in any personal account)
• The bank statement or bank certificate accurately reflects the subscription deposits
• The director's Class 3 DSC is valid, not expired, and registered on the MCA V3 portal

Step 5: Log in to MCA V3 Portal

Open a compatible web browser (Google Chrome or Microsoft Edge recommended) and navigate to the MCA V3 portal at mca.gov.in. Log in using your Business User credentials or the company login credentials that were registered during the SPICe+ incorporation process.

Before starting the form, ensure:

• The DSC utility (emsigner) is installed on your computer and running
• The Class 3 DSC dongle (USB token) of the signing director is plugged into the computer
• The DSC is registered under the director's DIN on the MCA V3 portal (check under "My Profile" or "Associate DSC")
• Java (if required by the emsigner version) is installed and up to date
• The browser pop-up blocker is disabled for mca.gov.in to allow the signing window to open

Navigate to the MCA Services section and select the e-Filing module. From the list of available forms, search for or select Form INC-20A (Declaration for Commencement of Business). The form will open in a new window or within the portal's form-filling interface.

Step 6: Fill the INC-20A Form

Complete the following fields in the INC-20A form on the MCA V3 portal:

Company Details Section:

• CIN (Corporate Identity Number): Enter the CIN or select it from the dropdown. The system auto-populates the company name, registered office address, date of incorporation, and authorised capital
• Company Name: Auto-populated from CIN. Verify it matches the Certificate of Incorporation
• Date of Incorporation: Auto-populated. This date is used to calculate the 180-day deadline
• Authorised Share Capital: Auto-populated from the MCA database
• Subscribed Share Capital: Enter the total subscribed share capital as per the MOA
• Paid-up Share Capital: Enter the total amount actually received from subscribers and deposited in the bank

Declaration Section:

• Director details: Select the director who will sign the form. The system shows all directors with their DIN. Select the director whose DSC is available for signing
• Verification statement: The form contains a pre-drafted declaration that the signing director verifies. Read the declaration carefully before proceeding
• Date of declaration: Enter the current date (the date on which you are filing the form)

Attachments Section:

• Bank Statement / Bank Certificate: Upload the PDF file of the certified bank statement or bank certificate. This is the only mandatory attachment. Ensure the file is clear, readable, and within the portal's file size limit
• Optional attachments: Any additional documents supporting the declaration can be uploaded in the optional attachment section, but they are not required

Step 7: Attach DSC and Submit

After completing all fields and uploading the bank statement, proceed to the digital signature and payment section:

1. Pre-scrutiny check: Click the "Pre-scrutiny" or "Check Form" button. The system validates all mandatory fields, attachment formats, and data consistency. Fix any errors flagged by the pre-scrutiny before proceeding
2. Digital signing: Click the "Sign" or "Affix DSC" button. The emsigner utility opens a signing window. Select the director's Class 3 DSC certificate from the list displayed by the utility. Enter the DSC PIN (USB token password) when prompted. The system verifies the DSC against the director's DIN in the MCA database
3. Payment: After successful digital signing, the portal redirects to the payment gateway. Pay the government fee of ₹200 through net banking, credit card, or debit card. The payment is processed in real time
4. Submission: After successful payment, the form is automatically submitted to the ROC. The MCA system generates a Service Request Number (SRN) as confirmation of submission

Step 8: Download the Filing Acknowledgment

After successful submission and payment, download the following from the MCA V3 portal:

• SRN Receipt: The Service Request Number (SRN) is the unique identifier for your INC-20A filing. Save this number for all future references and tracking
• Filing Acknowledgment: Download the PDF acknowledgment that confirms Form INC-20A has been successfully submitted to the ROC
• Payment Receipt: Download the payment receipt for the ₹200 government fee for your accounting records

The ROC processes the INC-20A filing and updates the company's master data on the MCA portal to reflect that the declaration of commencement of business has been filed under Section 10A. This update typically happens within 1 to 5 working days of submission. You can track the status of your filing on the MCA V3 portal using the SRN.

Once the ROC processes the filing, the company's status on the MCA portal changes to indicate compliance with Section 10A. The company is now legally authorised to commence business operations, enter into contracts, raise invoices, make purchases, exercise borrowing powers, and carry on all activities stated in its Memorandum of Association.

INC-20A Filing Fee and Cost Breakdown

INC-20A is one of the most affordable MCA filings. The total cost depends on whether you file it yourself or engage a professional.

The ₹200 government fee is a flat fee under the MCA fee schedule. Unlike many other MCA forms where the fee varies based on authorised capital (slab-based fees), INC-20A carries a fixed ₹200 fee for all companies regardless of size. This makes it one of the cheapest filings on the MCA portal.

Penalty for Late Filing or Non-Filing of INC-20A

The penalties for not filing INC-20A within the 180-day deadline are substantial relative to the simplicity and low cost of the filing itself. Section 10A prescribes the following consequences:

Monetary Penalties

The ₹50,000 company penalty is a one-time penalty imposed on the company for non-compliance. The ₹1,000 per day penalty on directors accumulates from the day after the 180-day deadline until the date of filing (or until the maximum of ₹1,00,000 is reached per director). For a company with 2 directors that files INC-20A 100 days after the deadline, the total penalty exposure is: ₹50,000 (company) + ₹1,00,000 (Director 1, capped) + ₹1,00,000 (Director 2, capped) = ₹2,50,000.

These penalties are imposed through an adjudication process by the ROC. The ROC issues a Show Cause Notice to the company and its directors, giving them an opportunity to explain the delay. After considering the response, the Adjudicating Officer passes an order imposing the penalty. The penalty order can be appealed before the Regional Director under Section 454(5) of the Companies Act, 2013.

Non-Monetary Consequences

Beyond the monetary penalties, failure to file INC-20A creates serious operational and legal risks:

• Business restrictions: Until INC-20A is filed, the company cannot legally commence business or exercise borrowing powers under Section 10A. Any contracts entered into before filing may face legal challenges
• Bank account restrictions: Banks that are aware of the INC-20A requirement may restrict operational transactions on the company's current account until the filing receipt is provided
• Future filing complications: Other MCA filings (such as annual returns and financial statements) may reference the commencement of business status, and non-filing of INC-20A can create complications in subsequent filings

What Happens If INC-20A Is Not Filed: ROC Strike Off Risk

The most serious consequence of not filing INC-20A is the risk of the company being struck off by the Registrar of Companies. Section 10A(2) of the Companies Act, 2013 states that if a company fails to comply with the provisions of Section 10A, the Registrar shall initiate action for removal of the name of the company from the Register of Companies under Section 248(1).

Specifically, Section 248(1)(c) authorizes the ROC to strike off a company that has failed to commence business within 1 year of incorporation. If INC-20A is not filed within 180 days and the company has not commenced business within 1 year, the ROC can issue a notice in Form STK-7 to the company and its directors. If no satisfactory response is received within 30 days, the ROC publishes a notice in the Official Gazette and strikes off the company's name. You can check your company's active or struck-off status on the MCA company name search page.

The consequences of ROC-initiated strike off are far more severe than the INC-20A penalty itself:

• Company dissolution: The company ceases to exist as a legal entity
• Director disqualification: Under Section 164(2)(a), directors of a company that has been struck off by the ROC are disqualified from being appointed as a director in any company for 5 years
• DIN deactivation: The disqualified directors' DINs are flagged in the MCA system, preventing them from being appointed as directors in any new or existing company
• Personal liability: Directors' liability for company obligations continues for 20 years after strike off under Section 248(7)
• Revival cost: Reviving a struck-off company requires filing an application with the National Company Law Tribunal (NCLT) under Section 252, which costs ₹1,00,000 to ₹3,00,000 in legal fees and takes 6 to 18 months

After Filing INC-20A: Next Steps for a New Company

Filing INC-20A is one of the first compliance obligations for a new company, but it is not the only one. After the commencement of business declaration is filed, the company must complete the following actions within their respective deadlines:

Immediate Next Steps (Within 30 Days)

• Apply for GST registration (if not obtained through AGILE-PRO during SPICe+): Required if the company's turnover exceeds the GST threshold (₹40,00,000 for goods, ₹20,00,000 for services in most states) or if it engages in inter-state supply of goods or services. The GST registration application is filed on the GST portal using the company's PAN
• Open operational bank accounts: After INC-20A filing, banks typically activate the current account for full operational transactions. Provide the INC-20A filing receipt (SRN acknowledgment) to the bank. The bank updates the account status and enables chequebook issuance, net banking, UPI, and other transaction facilities
• Set up accounting system: Start maintaining books of accounts from the date of incorporation as required under Section 128 of the Companies Act, 2013. Choose an accounting software (Tally, Zoho Books, or QuickBooks) and record all transactions from Day 1, including the subscription money receipt
• Apply for TAN (if not received through SPICe+): Companies that deduct TDS on salary, rent, professional fees, or contractor payments need a Tax Deduction and Collection Account Number. SPICe+ applications filed with AGILE-PRO receive TAN automatically, but verify the TAN allotment on the TRACES portal

Within First Year Compliance

• File Form ADT-1 (Auditor Appointment): The Board of Directors must appoint the first auditor within 30 days of incorporation through a Board Resolution. The first auditor holds office until the conclusion of the first AGM. File ADT-1 with the ROC within 15 days of the first Annual General Meeting (AGM). Failure to file ADT-1 attracts a late fee of ₹300 per day of delay
• File DIR-3 KYC: Every director must file annual KYC by 30 September of each year. New directors who received DIN during incorporation must file by the next 30 September deadline. Non-filing results in DIN deactivation and a ₹5,000 reactivation fee
• Hold the first Board Meeting: Within 30 days of incorporation. Subsequent Board Meetings must be held at least once every 120 days (minimum 4 per year). Record minutes of every board meeting in the statutory minutes book
• Hold the first Annual General Meeting (AGM): Within 18 months of incorporation or before 30 September of the following financial year, whichever is earlier. The AGM must approve the financial statements, appoint auditors, and transact other ordinary business
• File AOC-4 (Financial Statements): Within 30 days of the AGM. The financial statements must be audited by the statutory auditor appointed under Section 139
• File MGT-7A (Annual Return): Within 60 days of the AGM. Small companies and OPCs file the simplified MGT-7A instead of the full MGT-7
• Maintain statutory registers: Register of Members (MGT-1), Register of Directors (DIR-1), Register of Charges, Minutes Books for Board and General Meetings. These registers must be maintained at the registered office from the date of incorporation

For a comprehensive overview of all annual compliance requirements, see our Private Limited Company compliance guide.

Common Mistakes When Filing INC-20A

Despite being a simple form, companies make the following errors that lead to delays, rejections, or penalty exposure:

Timing Mistakes

• Delaying bank account opening: Many founders postpone opening the company bank account for weeks after incorporation. Since the bank account must be opened, subscription money deposited, and bank statement obtained before filing INC-20A, every day of delay in bank account opening eats into the 180-day window. Start the bank account process within the first week of receiving the Certificate of Incorporation.
• Miscalculating the 180-day deadline: The deadline is 180 calendar days from the date on the Certificate of Incorporation. Founders who count from the date they received the physical certificate, or from the date they opened the bank account, or from the date they started operations, will miscalculate and risk missing the actual deadline.
• Waiting for all registrations before filing: INC-20A does not depend on GST registration, MSME registration, or any other registration. File INC-20A as soon as subscription money is deposited, regardless of the status of other registrations.

Documentation Mistakes

• Uploading personal bank statement instead of company bank statement: The bank statement must be from the company's current account, not from any director's or subscriber's personal account. Even if the subscription money was first collected in a personal account and then transferred, the INC-20A attachment must show the deposit in the company account.
• Submitting an unclear or incomplete bank statement: The bank statement must clearly show the credit entries for subscription money. If the statement has dozens of transactions and the subscription deposits are not easily identifiable, the ROC may raise a query. Highlight or annotate the relevant entries, or use a bank certificate instead.
• Not matching subscription amount to MOA: The amount deposited must match (or exceed) the total subscription amount stated in the Memorandum of Association. If the MOA states ₹1,00,000 subscribed capital but only ₹80,000 is deposited, the declaration in INC-20A will be inaccurate and the filing may be questioned.

Technical Mistakes

• Expired or unregistered DSC: The signing director's Class 3 DSC must be valid and registered on the MCA V3 portal. Expired DSCs or DSCs not linked to the director's DIN on the portal will prevent digital signing. Check DSC validity and MCA registration before starting the form.
• Filing with wrong director's DSC: The DSC must belong to a director of the company (verified through DIN). Using a DSC of a professional or a non-director person will be rejected by the MCA system.
• Browser or emsigner compatibility issues: The MCA V3 portal's digital signing feature works best with Chrome or Edge browsers with the emsigner utility running. Firefox and Safari users may face signing failures. Ensure the emsigner is installed and the browser pop-up blocker is disabled for mca.gov.in.

INC-20A vs Other First-Year Filings: Comparison

New companies must complete multiple filings in their first year of operations. Understanding the differences between INC-20A and other first-year forms helps founders plan their compliance calendar effectively.

Recommended filing order for new companies:

1. INC-20A -- File first, within 30 to 60 days of incorporation (well before the 180-day deadline)
2. DIR-3 KYC -- File by 30 September of the year in which the company was incorporated (for all directors)
3. ADT-1 -- File within 15 days of the first AGM (the first AGM must be held within 18 months of incorporation)
4. AOC-4 and MGT-7A -- File within 30 days and 60 days of the first AGM respectively

Special Cases for INC-20A Filing

Certain company types and incorporation scenarios have specific considerations for INC-20A compliance.

Section 8 Companies (Non-Profit Companies)

Section 8 companies can be formed either as companies limited by guarantee (without share capital) or as companies limited by shares (with share capital). The majority of Section 8 companies in India are formed by guarantee, meaning the members guarantee a certain amount in the event of winding up but do not subscribe to shares.

Section 8 companies limited by guarantee (without share capital): These companies are exempt from INC-20A because Section 10A specifically applies to companies "having a share capital." Since guarantee companies do not have share capital, the provision does not apply.

Section 8 companies with share capital (rare): If a Section 8 company is formed with share capital, it must file INC-20A within 180 days of incorporation, following the same process as any other company with share capital.

One Person Companies (OPCs)

An OPC has a single member who is also typically the sole director. The filing process is straightforward:

• The single subscriber pays the full subscription amount into the company bank account
• The sole director (who is also the subscriber) files INC-20A using their DSC
• The OPC nominee listed in the MOA is not involved in the INC-20A process
• The government fee, deadline, and penalty structure are identical to Private Limited Companies

Companies Formed Through Conversion

Entities that convert into companies after 2 November 2018 have specific INC-20A considerations:

• LLP to Private Limited Company: When an LLP converts to a Private Limited Company, the new company receives a fresh Certificate of Incorporation. If the conversion was approved after 2 November 2018, the new company must file INC-20A within 180 days of the date on the new Certificate of Incorporation
• Partnership firm to Company: When a partnership firm converts to a company, the converted entity is treated as a new company for Section 10A purposes. INC-20A must be filed within 180 days of the new incorporation date
• Sole proprietorship to Company: If a sole proprietorship is converted into a Private Limited Company or OPC after 2 November 2018, the new company must file INC-20A within the standard 180-day deadline

Companies with Foreign Subscribers

If one or more subscribers to the MOA are foreign nationals or foreign entities (in the case of a company with Foreign Direct Investment), the INC-20A process remains the same. The foreign subscriber must transfer the subscription money to the company's Indian bank account through proper banking channels (foreign inward remittance). The bank statement will show the credit as a foreign currency conversion or SWIFT transfer. The company should retain the FIRC (Foreign Inward Remittance Certificate) as additional documentation, though it is not a mandatory INC-20A attachment.

For companies with FDI, ensure the subscription money is received through the automatic route or with prior government approval (as applicable under the FEMA regulations and the FDI policy). The subscription money must be deposited into the company's designated bank account for foreign investment. The company must also report the foreign investment to the RBI through the AD bank within 30 days of allotment of shares using Form FC-GPR. The INC-20A filing itself does not change, but the company must coordinate the FDI compliance with the INC-20A timeline to avoid delays on either front.

Companies Incorporated with Nominal Capital (₹1,00,000 or Less)

Most Private Limited Companies and OPCs are incorporated with the minimum authorised capital of ₹1,00,000. In these cases, the total subscription amount is typically ₹1,00,000 or less. The INC-20A process is straightforward: collect ₹50,000 from each of the 2 subscribers (for a typical 50-50 split), deposit the total ₹1,00,000 into the company bank account, and file the form. For companies incorporated with higher authorised capital (₹10,00,000 or ₹25,00,000), the subscription amount will be proportionally larger, and founders must plan subscription money collection well in advance of the 180-day deadline.

Companies That Changed Directors After Incorporation

If the company has appointed new directors or if any of the original directors have resigned after incorporation but before INC-20A filing, the form can be signed by any current director whose DIN is active in the MCA database and whose Class 3 DSC is registered on the MCA V3 portal. The signing director does not need to be one of the original subscribers. Any active director of the company can file INC-20A. Ensure the incoming director's DIN and DSC are properly set up on the MCA portal before attempting to file.

Related Resources

• Private Limited Company Registration -- Complete guide to incorporating a Pvt Ltd company through SPICe+
• Private Limited Company Compliance -- Annual compliance calendar and filing deadlines for Pvt Ltd companies
• One Person Company Registration -- OPC incorporation process and first-year compliance
• ROC Annual Filing -- Guide to filing AOC-4, MGT-7A, and other annual returns
• DIR-3 KYC Filing -- Annual director KYC update process on MCA portal
• ADT-1 Auditor Appointment -- Filing Form ADT-1 for statutory auditor appointment
• Compliance Health Check -- Check your company's compliance status and pending filings

Summary

Filing Form INC-20A is a mandatory first-step compliance for every company with share capital incorporated in India after 2 November 2018 under Section 10A of the Companies Act, 2013. The process involves collecting subscription money from all subscribers named in the MOA, depositing the amount in the company's bank account, obtaining a bank statement or bank certificate as proof, and filing the declaration on the MCA V3 portal with the director's Class 3 DSC. The government fee is ₹200, no professional certification is required, and the entire filing can be completed in 30 minutes to 1 day if all preparatory steps are finished. The deadline is 180 calendar days from the date of incorporation. Non-compliance attracts a ₹50,000 company penalty, ₹1,000 per day on directors (up to ₹1,00,000 each), and exposes the company to ROC strike off action under Section 248(1)(c). File INC-20A within the first 60 days of incorporation to avoid any deadline pressure. For assistance with INC-20A filing and new company compliance setup, explore our compliance services.