Book Appointment
Asia Pacific Tax Solution Logo
Hot Line Number +91-9852712644

Annual Compliances of OPC

Compliance

Annual Compliances of
One Person Company (OPC)

Certainly! An OPC (One Person Company) is a type of business entity where only one person holds 100% ownership and control. This individual acts as both the shareholder and director of the company. OPCs provide the benefits of limited liability, allowing the sole owner to safeguard personal assets against business liabilities. OPC Registration involves fulfilling certain legal requirements, such as obtaining a Director Identification Number (DIN), Digital Signature Certificate (DSC), and registering the company with the Ministry of Corporate Affairs. Additionally, the OPC must adhere to statutory compliance, including annual filing of financial statements and maintaining proper records.

While OPCs offer advantages like ease of formation and limited liability, they also have limitations, such as restrictions on the number of employees and inability to convert to other types of companies easily. Overall, OPCs are ideal for small businesses and startups looking to operate with a single owner while enjoying the benefits of a corporate structure.

illustration-shape illustration-shape

Basic Compliances of
One Person Company (OPC)

Section & Rules Forms Particulars
164(2), 143(3)(g) DIR-8 Disclosure of non-disqualification in each financial year by every director.
184(1) MBP-1 By every Director at each financial year for disclosure of director interest in other entity in the First Meeting of the Board of DirectorFresh MBP-1 is required to be submitted whenever there is a change in director interest from the earlier.
First Board Meeting First Board Meeting The First Meeting of the Board of Directors is required to be held within 30 days of the Incorporation of the Company. Notice of BM must be sent to every director at least 7 days before the meeting.
Commencement of Business INC-20 Every Company is required to file Form INC-20A within 180days from the date of commencement of business by opening a bank account with an amount of the paid-up share capital of the company failing which the company shall be liable for a penalty of Rs.50,000 and every officer in default shall be liable for a penalty of Rs.1,000 per day which may extend to Rs. 1,00,000.
Rule 12A INC-20 All the Directors of the company shall file DIR-3 on or before 30th September every year.
Section 405 MSME-1 Company to file MSME-1, half-yearly in respect of pending payments to MSME vendors at end of half-year. April to Sep: 30th OctoberOctober to March: 30th April.
Section 73,Rule 16 DPT-3 To be filed every year on or before 30 June in respect of return of Deposit and particulars not considered Deposits as on 31st March.
Section 139 ADT-1 The auditor will be appointed for 5 years in form ADT-1 within 15days of the Annual General Meeting.
Section 92 MGT-7 OPC fills its annual return within 180 days from the closure of the financial year.
Section 137 AOC-4 The company is required to file its Balance sheet along with Statement of Profit and Loss Account, Director Report, and Auditor report within 180 days from the closure of the financial year.