One Person Company (OPC) Compliance and Annual Filing in India

Introduced by the new Indian Companies Act of 2013, the One Person Companies (OPCs) are rapidly becoming popular in entire India for doing business or providing services in various economic sectors by individual and innovative entrepreneurs/professionals. The Companies Act of 2013 and various Rules associated with this Act, offer many lavish exemptions and privileges to OPCs in India in respect of registration, business administration & management, and also statutory compliances. This well-drafted webpage offers exclusive information about our expert and efficient services for the one person company (opc) compliance and annual filing in india, to help all interested OPCs located all across the country.

As far as the annual compliances of opc are concerned, these are just fewer as compared to those required by a private or public limited company; and hence, its compliance cost is just medium. Other exemptions and facilities provided to the OPCs in India include the following --- no need of holding the Annual General Meeting (AGM), making rotation of the auditors, Secretarial Standards I & II are not applicable to OPCs, and no requirement of furnishing the Cash Flow Statement.

Extending the full-range of legal and advisory services to OPCs in India, our services also cover the statutory compliances by opc regardless of the sector of its business or service. The opc annual filing process and our services for registered opc company in connection with compliances are described below separately.

OPC Annual Filing Process and Our Services for Registered OPC Company

In general, the annual compliances to be made by an OPC in India relate mainly to the following regulatory bodies and authorities:

• The Annual Return in Form MGT-7: This is one most important roc return filing for opc company, which contains current/updated information about the directors and shareholders of the OPC. The due date of filing this compliance with the relevant ROC is within Sixty days from the date of AGM.
• The Financial Statements in Form AOC-4: This is to be filed with relevant ROC, on or before 30th October, every year. This compliance offers information about all monetary transactions and finances made by the OPC in the mentioned financial year. In case of an OPC, the annual financial reports contain only the following particulars --- Balance Sheet, Profit and Loss Account, Auditor’s Report, and the Consolidated Financial Statement.
• Income Tax Returns in Form ITR-VI: This is to be filed with the Income Tax Department, on or before 30th September of the following financial year. Tax audit will be statutory, if the annual turnover of the concerned OPC gets more than Rs. One Crore.
• Event-based Annual Compliances: Related mainly with the internal administration and external business management.
• Annual Compliances under diverse Legal Authorities: Such as GSTN, Labor & Employment Laws, Intellectual Property Laws, Environmental Laws, Excise and Custom, Company and Corporate Laws, and PF and ESI Regulations.

How Global Jurix Help for Annual Compliance Filing for your Registered OPC?

Interested One Person Companies (OPCs) located anywhere in entire India, may briskly harness our perfect and punctual compliance filing services, just through contacting over: +91-81303-00046; or sending their queries or requests at: companies@GlobalJurix.com