Certificate of Commencement of Business: Submit proof of payment of share capital amount, digital signature certificate and get your declaration of commencement of business filed with MCA.

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Commencement of Business

Commencement of Business:

Every Company registered on or after 2nd day of November 2018 has to file a declaration with in a period of 180 days of its incorporation by its director stating that the receipt of share capital amount:

The following companies are not required to file declaration of commencement of business:

  • Companies registered with out share capital

  • Companies registered prior to 2nd day of November 2018

What happens if the company does not file a declation of commencement of business?

Where no declaration has been filed with the Registrar under clause (a) of sub-section (1) within a period of one hundred and eighty days of the date of incorporation of the company and the Registrar has reasonable cause to believe that the company is not carrying on any business or operations, he may, without prejudice to the provisions of sub-section (2), initiate action for the removal of the name of the company from the register of companies under Chapter XVIII.

Law Governing Commencement of Business:

Section 10A(1)(a) of the Companies Act, 2013 and Rule 23A of the Companies (Incorporation) Rules, 2014 prescribe the procedure for filing of commencement of business:

  • Section 10A(1)(a) of the Companies Act: 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:

    (a) a declaration is filed by a director within a period of one hundred and eighty days of the date of incorporation of the company in such form and verified in such manner as may be prescribed, with the Registrar that every subscriber to the memorandum has paid the value of the shares agreed to be taken by him on the date of making of such declaration.

  • Rule 23A of the Companies (Incorporation) Rules, 2014: The declaration under section 10A by a director shall be in Form No, lNC-20A and shall be filed as provided in the Companies (Registration Offices and Fees) Rules, 2014 and the contents of the said form shall be verified by a company Secretary or a chartered Accountant or a cost Accountant. in practice: Provided that in the case of a company pursuing objects requiring registration or approval from any sectoral regulators such as the Reserve Bank of India, Securities and Exchange Board of India, etc., the registration or approval, as the case may be from such regulator shall also be obtained and attached with the declaration.

You can find herein below the instruction KIT:

Documents Required for filing of commencement of business:

The following documents are required for filing of commencement of business:

  • Proof of receipt of Share Capital amount

  • Registration or Approval from sectoral regulators if applicable

  • Digital Signature Certificate of one of the directors

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Who are required to file commencement of business?

Companies which are regitered on or after 2nd day of November 2018 are required to file declaration of commencement of business.

What are not required to file commencement of business?

Companies which are registered prior to 2nd day of Nomvember 2018.

Companies which are registered with out share capital.

What are happens if we do not file a declaration of commencement of business?

Where no declaration has been filed with the Registrar under clause (a) of sub-section (1) within a period of one hundred and eighty days of the date of incorporation of the company and the Registrar has reasonable cause to believe that the company is not carrying on any business or operations, he may, without prejudice to the provisions of sub-section (2), initiate action for the removal of the name of the company from the register of companies under Chapter XVIII.

What is the government fee for filing declaration of commencement of buusiness?

It depends on the share capital of the company. For One Lakh share capital company, the filing fee is Rs. 300/-

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