Avil Rakshith Salins — ACS A48442, Practising Company SecretarySalins & Co.
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26 October 2026 · Updated 26 October 2026

By Avil Rakshith Salins, Practising Company Secretary

Form INC-20A: declaration of commencement of business

In short

A company with share capital incorporated on or after 2 November 2018 files Form INC-20A within 180 days of incorporation, declaring that every subscriber has paid for their shares. Until it is filed, the company cannot commence business or borrow. Missing it costs ₹50,000 for the company and up to ₹1 lakh for each officer, and the ROC can start striking the company off.

The rule

Section 10A(1) of the Companies Act, 2013, inserted with effect from 2 November 2018, says such a company shall not commence business or exercise borrowing powers unless:

  1. a director files, within 180 days of incorporation, a declaration that every subscriber to the memorandum has paid the value of the shares agreed to be taken; and
  2. the company has filed the verification of its registered office under section 12(2).

Who files it

Every company having a share capital, including a One Person Company and a section 8 company with share capital. A company without share capital is outside section 10A.

Certification

The form must be certified by a practising company secretary, chartered accountant or cost accountant (rule 23A of the Companies (Incorporation) Rules, 2014). It records, for each subscriber, the bank, the date of receipt and the amount paid. Where a sectoral regulator's approval is needed (for example RBI or SEBI), that approval is attached.

Penalty

Section 10A(2): ₹50,000 on the company, and ₹1,000 a day on each officer in default, up to ₹1 lakh.

Strike-off risk

If the declaration is not filed within 180 days and the Registrar has reasonable cause to believe the company is not carrying on business, the Registrar may start removing its name from the register (section 10A(3), Chapter XVIII).

Frequently asked questions

180 days from the date of incorporation.

It has to: the declaration confirms that subscribers have paid, so the money is received first and INC-20A is filed after.

Yes, if the OPC has share capital.

File it with the additional fee as soon as possible. The section 10A(2) penalty may still apply, and the strike-off risk remains until it is filed.

Sources

General information on the law as on 26 October 2026, not advice on any particular matter. Check the current MCA form and instruction kit before filing.

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