{"id":5685,"date":"2019-01-28T12:09:38","date_gmt":"2019-01-28T11:09:38","guid":{"rendered":"https:\/\/www.octagona.com\/?p=5685"},"modified":"2025-05-29T15:22:48","modified_gmt":"2025-05-29T15:22:48","slug":"india-business-startup-declaration-becomes-mandatory-for-new-companies","status":"publish","type":"post","link":"https:\/\/octagona.com\/en\/india-diventa-obbligatoria-la-dichiarazione-di-inizio-attivita-per-le-nuove-societa\/","title":{"rendered":"India: declaration of start-up becomes mandatory for new companies"},"content":{"rendered":"<p style=\"text-align: justify;\"><b>India is a country of great opportunities<\/b><span style=\"font-weight: 400;\"> which has set itself the ambitious goal of increasing its importance among the main global players of the 21st century. However, despite the strong economic growth and the rapid and profound changes the country is undergoing, this is a <\/span><b>market not easy to understand<\/b><span style=\"font-weight: 400;\">: for this reason, before you can access it <\/span><b>Need to have a close understanding of local business dynamics<\/b><span style=\"font-weight: 400;\">. <\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">A <\/span><b>Important and recent news<\/b><span style=\"font-weight: 400;\"> concerns the <\/span><b>Reintroduction of the obligation to declare business commencement<\/b><span style=\"font-weight: 400;\">: If at first, in 2015, the so-called <\/span><i><span style=\"font-weight: 400;\">Declaration of Commencement <\/span><\/i><span style=\"font-weight: 400;\">had been repealed, through the <\/span><i><span style=\"font-weight: 400;\">Companies Amendment Ordinance <\/span><\/i><span style=\"font-weight: 400;\">such a statement is again reintroduced by the <\/span><i><span style=\"font-weight: 400;\">Ministry of Corporate Affairs <\/span><\/i><span style=\"font-weight: 400;\">local<\/span><span style=\"font-weight: 400;\">. The Indian government was prompted to backtrack by the trend of shareholders failing to pay their capital contributions into company current accounts, which has been observed since the obligation was abolished in 2015.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The <\/span><i><span style=\"font-weight: 400;\">Companies Amendment Ordinance <\/span><\/i><span style=\"font-weight: 400;\">requires companies that are incorporated after November 2, 2018, to <\/span><b>Submit a Declaration of Commencement of Business through the digital form INC 20A at the <\/b><b><i>Registrar of Companies<\/i><\/b><b> Local within 180 days from the date of establishment<\/b><span style=\"font-weight: 400;\">, and prohibits any activity before this obligation has been fulfilled.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">To fill out the digital form, you need to submit:<\/span><\/p>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"font-weight: 400;\">the <\/span><b>proof of payment <\/b><span style=\"font-weight: 400;\">on the company's current account for <\/span><b>incorporation fees<\/b><span style=\"font-weight: 400;\"> By members;<\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"font-weight: 400;\">the<\/span><b> Approval process<\/b><span style=\"font-weight: 400;\"> By industry regulators. <\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">La <\/span><b>non-delivery of this form<\/b><span style=\"font-weight: 400;\">, within the set limit of 180 days from the date of establishment, entails the<\/span><b> following penalties<\/b><span style=\"font-weight: 400;\">:<\/span><\/p>\n<ul>\n<li style=\"text-align: justify;\"><b>fine to the company<\/b><span style=\"font-weight: 400;\"> of 50,000 INR (approx. \u20ac620);<\/span><\/li>\n<li style=\"text-align: justify;\"><b>fine to each individual member <\/b><span style=\"font-weight: 400;\">of 1,000 INR per day (approx. \u20ac13) for each day of delay in making the payment, up to a maximum of 100,000 INR (approx. \u20ac1240);<\/span><\/li>\n<li style=\"text-align: justify;\"><b>removal from the <\/b><b><i>Registrar of Companies<\/i><\/b><span style=\"font-weight: 400;\">, in the event that, after 180 days, there is \u201creasonable doubt\u201d that the company is not carrying out any activity.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><b>For companies that want to approach the Indian market.<\/b><b> it is appropriate to rely on experts who know it thoroughly<\/b><span style=\"font-weight: 400;\">: <\/span><a href=\"https:\/\/octagona.com\/en\/\" target=\"_blank\" rel=\"noopener\"><b>Octagona<\/b><\/a><span style=\"font-weight: 400;\">, thanks to its 17 years' experience in the market, its direct offices in New Delhi, Pune and Bangalore and its team of Italian and Indian experts, <\/span><b>is capable of supporting your company in the realization of successful projects in the Subcontinent<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">For more information, please contact us at <\/span><b>059.9770184 <\/b><span style=\"font-weight: 400;\">or send an e-mail to the address <\/span><a href=\"mailto:octagona@octagona.com\"><span style=\"font-weight: 400;\">octagona@octagona.com<\/span><\/a><span style=\"font-weight: 400;\">: you will receive all the information you need.<\/span><\/p>\n<p>\u00a0<\/p>\n<p>READ ALSO:<\/p>\n<p><a href=\"https:\/\/octagona.com\/en\/want-to-do-business-in-india-attend-free-webinar-on-nov-30\/\">INDIA DAY. Want to do business in India? Join the free webinar on Nov. 30<\/a><\/p>\n<p><a href=\"https:\/\/octagona.com\/en\/new-milestone-for-octagona-won-art-er-announcement\/\">New milestone for Octagona: won the ART-ER announcement<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>L\u2019India \u00e8 un paese dalle grandi opportunit\u00e0 che si \u00e8 posto l\u2019ambizioso obiettivo di accrescere la propria importanza tra i principali player globali del XXI secolo. Tuttavia, nonostante la forte crescita economica e i rapidi e profondi mutamenti che stanno attraversando il Paese, si tratta di un mercato di non facile comprensione: per questo motivo, [&#8230;]<\/p>\n<p><a class=\"btn btn-secondary octgn-read-more-link\" href=\"https:\/\/octagona.com\/en\/india-diventa-obbligatoria-la-dichiarazione-di-inizio-attivita-per-le-nuove-societa\/\">Read More&#8230;<\/a><\/p>\n","protected":false},"author":3,"featured_media":283,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[19],"class_list":["post-5685","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-internazionalizzazione-imprese","tag-india"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>India: la dichiarazione di inizio 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