Form INC-20A is the statutory declaration that directors file with the Registrar of Companies (RoC) to confirm that a newly incorporated company (with share capital) has received its subscription money and is ready to commence business. This guide gives a concise, practical, step-by-step workflow, the documents you must attach, timings, common errors, and a ready checklist you can copy into your compliance tracker. TaxGuru+1
Who must file INC-20A and when
- Applicability: Any company incorporated on or after 2 November 2018 which has share capital must file Form INC-20A before commencing business. TaxGuru+1
- Deadline: File within 180 days from the date of incorporation. Failure to file within this period attracts penalties and may lead to director-level penalties or other actions by the RoC. cleartax+1
Quick overview — Why INC-20A?
Filing INC-20A confirms two primary things to the RoC:
- Every subscriber to the Memorandum has paid the value of the shares agreed to be taken by them.
- The company is ready to commence business / exercise borrowing powers (subject to sectoral approvals if applicable). Indian Kanoon+1
Step-by-step filing process
1. Board meeting & resolution
- Convene a Board meeting to approve the declaration that the company is ready to commence business.
- Record and pass a resolution authorizing a director to sign and file Form INC-20A.
- If the company’s object requires sectoral approvals (RBI/SEBI/IRDA etc.), the resolution should confirm that approvals have been obtained or are in place. India Filings
2. Collect evidence of subscription money receipt
- Obtain a bank statement / bank certificate showing the receipt of subscription money from each subscriber mentioned in the MoA. The bank evidence must clearly link the amounts to the company’s account and subscriber names. India Filings
3. Prepare director declarations & affidavits
- Directors prepare the statutory declaration under Section 10A (included in INC-20A).
- Obtain the director’s declaration that the statements in the form are true. The contents of INC-20A must be certified/verified by a practicing CA / CS / CMA. Indian Kanoon+1
4. Attach required documents
Common attachments (attach scanned PDFs when uploading) include:
- Bank statement / bank certificate evidencing subscription amount.
- Copy of the Board resolution authorizing filing.
- Proof of registered office (if applicable).
- Copies of sectoral regulatory approvals (if the company’s objects require them).
- Certification by practicing CA/CS/CMA (certificate of verification). India Filings+1
5. Fill INC-20A on MCA portal (MCA 3.0 / as applicable)
- Login to MCA, select e-form INC-20A.
- Enter company CIN, incorporation date, director details, bank proof details and attach the scanned documents.
- Sign the form using the Digital Signature Certificate (DSC) of the filing director (or authorized signatory). The practicing professional’s certificate must also be attached. Setindiabiz
6. Submit & pay fees (if applicable)
- Submit the form and pay any filing fees. The form will be processed by the RoC. Keep the SRN / acknowledgement for records.
7. Maintain records
- Store all attachments, the filing acknowledgement and the board minutes in the statutory records. INC-20A evidence is frequently requested during audits or regulator reviews. India Filings
Timeline & penalties — be strict on deadlines
- When to file: Within 180 days of incorporation. cleartax
- Consequences of non-filing: Penalties on the company and every officer in default; in severe cases, RoC may initiate strike-off or other action. Recent regulatory actions show significant penalties where INC-20A was not filed timely. IndiaFilings+1
Common mistakes to avoid
- Relying on memoranda without a proper bank statement showing subscriber payments. India Filings
- Forgetting certification by a practicing CA/CS/CMA — INC-20A requires professional verification. Indian Kanoon
- Uploading poor-quality scans that obscure bank references or dates.
- Filing after 180 days — late filing attracts penalties and can trigger further compliance scrutiny. IndiaFilings
- Not attaching sectoral approvals where required (RBI/SEBI/other licences).
Practical checklist (copy-paste into your compliance tracker)
- Board resolution authorizing INC-20A filing — signed and dated.
- Bank statement / bank certificate with subscriber receipts (PDF).
- Director’s declaration (signed).
- Professional verification certificate (CA/CS/CMA) — signed & stamped.
- Sectoral approvals (if applicable).
- DSC of filing director / authorized signatory.
- Upload INC-20A on MCA + pay fees.
- Save SRN / acknowledgement; file in statutory records.
Use cases where INC-20A is not required
- Companies incorporated before 2 November 2018.
- Companies without share capital (e.g., Section 8 companies without share capital). TaxGuru
Conclusion
Form INC-20A is a short form but a high-impact compliance — it’s the formal gatekeeper between incorporation and actual business operations for companies with share capital. Completing INC-20A correctly, with clear bank evidence and professional verification, prevents downstream penalties and keeps the company’s ROC record clean. Saving Mantra streamlines this flow with templates, document checklists, role assignments (who signs/attaches what), and reminders so you never miss the 180-day window.
The information provided in this blog is for general informational and educational purposes only and should not be construed as legal, tax, or professional advice. While every effort has been made to ensure accuracy and compliance with the applicable provisions of the Companies Act, 2013 and related rules, laws and regulations may change over time and interpretations may vary based on specific facts and circumstances.
All services are subject to applicable laws, rules, and government approvals prevailing at the time of execution.