ROC Compliances For One Person Company

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ROC Compliances For One Person Company
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Annual Compliances For OPC

A One Person Company can be formed with just 1 person who can act as both the director as well as the shareholder. An OPC is required to adhere to the annual compliances stated under the Income Tax Act, the Companies Act and other regulations, as applicable. Such compliances include holding at least one board meeting in each half of the year, appointing a Statutory Auditor, adopt its financial statements that include the balance sheet, profit and loss account, auditor's report and notes of accounts.

One Person Company is not required to prepare cash flow statements. The annual return of an OPC must be filed with the Registrar of Companies as Form MGT-7. The ITR of OPC  and annual return must be filed before September 30 each year.

A One Person Company can be formed with just 1 person who can act as both the director as well as the shareholder. An OPC is required to adhere to the annual compliances stated under the Income Tax Act, the Companies Act and other regulations, as applicable. Such compliances include holding at least one board meeting in each half of the year, appointing a Statutory Auditor, adopt its financial statements that include the balance sheet, profit and loss account, auditor's report and notes of accounts. One Person Company is not required to prepare cash flow statements. The annual return of an OPC
must be filed with the Registrar of Companies as Form MGT-7. The ITR of OPC  and annual return must be filed before September 30 each year.

A One Person Company can be formed with just 1 person who can act as both the director as well as the shareholder. An OPC is required to adhere to the annual compliances stated under the Income Tax Act, the Companies Act and other regulations, as applicable. Such compliances include holding at least one board meeting in each half of the year, appointing a Statutory Auditor, adopt its financial statements that include the balance sheet, profit and loss account, auditor's report and notes of accounts.

One Person Company is not required to prepare cash flow statements. The annual return of an OPC must be filed with the Registrar of Companies as Form MGT-7. The ITR of OPC  and annual return must be filed before September 30 each year.

Cost effective & Transparent Pricing

Basic

Rs. 16000/- inclusive of all fees

ROC filing for an OPC with ITR filing, GST registration and compliance management for a One Person Company with an annual turnover of up to Rs. 10 lakhs.

Standard

Rs. 25000/- inclusive of all fees

ROC filing for One Person Company with Income Tax Return filing, GST registration and compliance management for an OPC with an annual turnover of up to Rs. 50 lakhs.

Advanced

Rs. 35000/- inclusive of all fees

OPC Annual Compliance filing with ITR, GST Registration and compliance management for a One Person Company with an annual turnover of up to Rs. 1 crore.

employee

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Choose The Compliances For Your Business

Compare the annual compliances of different kinds of business structures!

Compliances Private Limited Company Limited Liability Partnership One Person Company Partnership Firm Sole Proprietorship
+ Board Meeting Compulsory Not Compulsory Not Compulsory Not Compulsory Not Compulsory
  It is compulsory to conduct 4 board meetings in a year and 1 meeting within 30 days of incorporation. A board meetings for designated partners is not mandatory. A board meeting is required only if there are more than 1 directors. No board meeting is required. No board meeting is required.
+ Annual General Meeting Compulsory Not Compulsory Not Compulsory Not Compulsory Not Compulsory
  It is compulsory to hold an AGM. No AGM is required. An AGM can be conducted if there are more than 1 directors. No AGM is required. No AGM is required.
+ Annual Tax Filing Compulsory Compulsory Compulsory Compulsory Not Compulsory
  It is mandatory to file ITR irrespective of income. It is compulsory to file an ITR regardless of the annual turnover. It is compulsory to file an Income Tax Return. It is compulsory to file an ITR every year. An ITR must be filed if the annual income crosses Rs. 2.5 lakhs.
+ Tax Audit Conditional Conditional Conditional Conditional Conditional
  A tax audit is required if the annual turnover crosses Rs. 1 crore. A tax audit is required if the annual turnover crosses Rs. 1 crore. A tax audit is required if the annual turnover crosses Rs. 1 crore. A tax audit is required if the annual turnover crosses Rs. 1 crore. A tax audit is required if the annual turnover crosses Rs. 1 crore.
+ Annual Compliances Many Some Many Few Few
  Annual compliances include balance sheet, profit and loss account, acocunt flow statement, statement of changes in equity and an Annual Return. Annual compliances include Annual Return and statement of accounts & solvency. Annual compliances include balance sheet, profit and loss account, acocunt flow statement, statement of changes in equity and an Annual Return. Annual compliance include ITR filing and tax audit (if applicable). Annual compliance include ITR filing and tax audit (if applicable).
+ Compliance Cost High Medium High Low Low
  As there are numerous compliances, the cost is high. Compliances are limited and it costs less than PLC/OPC. As there are numerous compliances, the cost is high. There are a few compliances and the cost is extremely low. There are a few compliances and the cost is extremely low.
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Frequently Asked Questions

Are ROC compliances for an OPC same as Private Limited?
Yes, all kinds of companies registered under the Companies Act, 2013 have the same annual compliances.
If the OPC has not done any business, do I need to file ROC Return?
Yes, even if the company has not done any business, ROC filing is a must. ROC return lays down the information of changes taken place in the company during the year and need to be filed with the ROC.
What are the ROC Compliances for One Person Company?
The primary ROC compliances for an OPC is Annual return filing, ITR filing, issue of Share certificate, maintenance of Statutory registers and minutes book.
What forms are filed for ROC Return of an OPC?
The annual compliances are filed in form of ADT-1, AOC-4 and MGT-7 with the ROC.
What is due date for OPC Annual Filing?
The first annual ROC filing of a company must be done by December 30 of the next year from the date of incorporation and the subsequent annual filing must be done by September 30 each year.
Who is responsible to file OPC ROC Return?
The director of the OPC is responsible for ROC compliance of the company.
What is Penalty for late filing of Annual Filing for OPC?
The penalty for delay of up to 30 days is 2 times of normal fees. If the delay is for more than 30 days and up to 60 days, the penalty is 4 times of normal fees. If the delay is more than 60 days and up to 90 days, the penalty is 6 times of normal fees. If the delay is for more than 90 days and up to 180 days, the penalty is 10 times of normal fees. If the delay is for more than 180 days, the penalty is 12 times of normal fees.
Can the penalty for non-filing of OPC Return be waived off?
No, there is no provision for waiver of penalty.
Is there a need to hold a Board of Directors Meeting?
A company can hold a board meeting one board meeting in each half of the year.
Is it mandatory to appoint an Auditor for OPC?
An Auditor must be appointed by the Director of the OPC for auditing of financial statements of the company.

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