Home |Company Registration |I had registered my company in Nov 2021. Anyhow Certf. of commencement of business(INC 20A) not applied yet . Now what's total penalty charges for filing it now. Which is better option? Close company & register new. Pls suggest how can you help us?

I had registered my company in Nov 2021. Anyhow Certf. of commencement of business(INC 20A) not applied yet . Now what's total penalty charges for filing it now. Which is better option? Close company & register new. Pls suggest how can you help us?

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B Samrish & Co. Company Secretaries B Samrish & Co. Company Secretaries, www.bsamrishindia.com verified
Answered on November 17,2022

Dear Reader, 

A newly incorporated company needs to call their subscription money within 180 days from the date of incorporation, and the director needs to give a declaration to the registrar in form INC 20A. As per the Act, the company shall be liable to a penalty of fifty thousand rupees, and every officer who is in default shall be liable to a penalty of one thousand rupees for each day during which such default continues, not exceeding an amount of one lakh rupees.

Further, it is to be noted that in your case, since the period of 180 days has already elapsed and if the Registrar has not issued any notice for strike-off of the company, you can file the said form with additional fees if the subscription money has already been paid by the subscriber to the memorandum of incorporation.

You may contact us through our website for our legal opinion on this by describing your business in brief, and we will assist you accordingly. Alternatively you can also approach us by clicking on the Whatsapp button appearing below the reply.

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Guide

Form INC 20A : Declaration of Commencement of Business

Form INC 20A: Declaration for the Commencement of Business is the declaration that the Director of the Company needs to file with the Registrar of Companies. This declaration is filed in For..
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