All the directors of a company have to file with the registrar, a declaration for commencement of business in Form 20A within 180 days from the date of incorporation. This declaration describes that the subscribers to the memorandum of association have paid the total value of the shares as agreed to the company.

Section 10A(1)(a) of the Companies Act, 2013 and Rule 23A of the Companies (Incorporation) Rules, 2014

• Payment proof of subscription money credit
• Certificate of Registration issued by the RBI or other regulators

• Collection of basic information and documents
• Preparation of ROC form for declaration
• Uploading of necessary attachments
• Filing of Form 20A at MCA portal