eForm INC-20A

entire value of the shares agreed to be taken by them in the Companies Bank Account are needed to be provided in eForm inc-20A.

Also, the attachments that need to be attached with the eform inc-20A are;

  • Certificate of Incorporation (CoI).
  • Proof of payment by subscribers for the value of shares taken by them.
  • An individual is required to attach the Bank Account statement of Company having all credit entries for receipt of subscription money received from every one of the subscribers to MOA.
  • For Non-Banking Financial Company (NBFC), a Certificate of Registration issued by the RBI is also needed.

Registration Process For eForm INC-20A

The due date for the first time filing of “eForm INC-20A” is from the date of incorporation within 180 days for the corporation incorporated on or after 02//11/2018.

The Requirements for Filing eForm INC-20A:

  • The Subscribers has paid the share subscription sum towards the corporation
  • That the corporation has obtained the regulatory approval needed to be obtained for the commencement of business for the business activities which are particularly regulated by SEBI, RBI, IRDA, etc.

We at Panomics Legal Mentors provide meticulous assistance to the clients incorrectly filing the eForm INC-20A as per the rules.

Legal remedies

The penalty when not filed the eform INC-20a is;

  • The company is legally responsible to pay Rs. 5000
  • Every officer who is in default is legally responsible for paying Rs. 1000 each day. The maximum penalty prescribed for not filing of eFORM INC-20A till the expiration of 180 days from the date of corporation formation is Rs.1 lakhs.

Panomics Legal Mentors is the professional tech-based online and legal services which help the clients to simplify the procedures of eForm INC-20A, implementation, tax concerns and any additional legal compliances and services related to the business in India.