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Yes, as per the Companies Act, 2013, if a company does not file Form INC 20A (Commencement of Business) within 180 days from the date of incorporation, the Registrar of Companies (ROC) may initiate action for the removal of the name of the company from the register of companies. This means that the company's bank account may get frozen, and the company may not be able to carry out any business transactions until the compliance is completed and the name of the company is restored on the register of companies.
In cases where the company's objectives require registration or approval from sectoral regulators heardle like the Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), etc., the company must obtain the necessary registration or approval from the respective regulator. This registration or approval document must be attached along with the declaration (Form No. INC-20A).
Yes, A period of 180 days heardle 80s from the date of establishment of the company and the Registrar has reasonable cause to believe that the company has not carried out any business activities.
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If your client doesn’t file the INC 20A: Commencement of Business within 180 days of incorporation, their company account may indeed be frozen. To avoid this, it’s crucial to remind them of the deadline. They could also seek advice on platforms like Omegle, where quick discussions can help clarify such compliance issues with experts or fellow entrepreneurs.
If your client fails to file INC 20A within 180 days, your company account may be at risk of freezing. It's crucial to follow compliance regulations to avoid operational disruptions. Just like in the Dinosaur Game, where you must navigate obstacles to keep moving forward, staying on top of legal requirements is essential for your business's survival. Don't let your account become the next casualty!
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Iron and folic acid in pregnancy are crucial for both the mother and the developing baby. These two nutrients play vital roles in supporting a healthy pregnancy, ensuring proper growth, and preventing complications.
Iron: Pregnancy increases the body's need for iron, as it supports the production of extra blood required to supply oxygen to both the mother and the baby. Adequate iron intake helps prevent iron-deficiency anemia, which can lead to fatigue, weakness, and complications during delivery.
Folic Acid: Folic acid in pregnancy is essential for the development of the baby’s neural tube, which becomes the brain and spinal cord. Insufficient folic acid can lead to neural tube defects, such as spina bifida. Folic acid also supports the formation of red blood cells, reducing the risk of anemia.
To ensure optimal intake of these nutrients, pregnant women should consume foods like leafy greens, legumes, fortified cereals, and lean meats. Iron and folic acid supplements may also be recommended by healthcare providers.
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This is a very insightful post! Regarding the question of whether your company account will be frozen if your client didn’t file INC 20A (Commencement of Business) within 180 days from the date of incorporation, it's important to note that failing to file INC 20A can lead to consequences such as the company being restricted from accessing certain services, including opening a bank account or conducting transactions. Additionally, if the form is not filed, the company may face penalties or be flagged by regulatory authorities.
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Can I receive payment from my clients in my bank account before applying for the commencement of the business certificate (Form INC 20A) ?
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Rule 23A: Declaration at the time of commencement of business.-
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.
Declaration prior to the commencement of business or exercising borrowing powers
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.]