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5 Simple Steps

For OPC Compliance

Documents For OPC

Compliance

ID Proof/Address Proof of DirectorPAN Card
Latest Utility Bill such as Telephone/ElectricityPassport size photograph

List of OPC Compliance

Annual Return

This compliance requirement contains the Statement of Disclosure of the Directors and Shareholders. This form needs to be filed by the OPC with relevant ROC.

Financial Statement

This compliance requirement contains all the finance and money-related audited accounts under the OPC.

IT Return

This particular compliance needs to be adhered to by the OPC company by 30th September each year.

OPC PAN

Post incorporation of the OPC, it is mandatory for the company to apply for a PAN Card.

OPC Bank Account

ROC has mandated the OPC to open a bank account for proper finance tracking to ensure timely ITR filings.

Auditor Appointment

Each OPC company is required to timely appoint its 1st auditor within 30 days post incorporation of the company.


About One Person Company Compliance


OPC or One Person Company is a fairly new concept getting recognized by the Indian population. This trend is attracting the community that is comprised of freelancers and solopreneurs that want to organize their business on their very own terms. OPC is a variant of the Private Limited Company that comes with limited liability and requires only one member to get registered. This single contributor is the only shareholder and director of the company.

  • Basic Package
  • 10499 __
  • Bookkeeping+ financial statement preparation+ annual report / director’s report / board resolution preparation+ MCA annual return filing+ income tax return filing+ statutory audit+ 1 year dedicated compliance manager support (for a company with a turnover of less than Rs.10 lakhs per annum).
  • Get Started
  • Standard Package
  • 18499 __
  • Bookkeeping+ financial statement preparation+ annual report / director’s report / board resolution preparation+ MCA annual return filing+ income tax return filing+ statutory audit+ 1 year dedicated compliance manager support (for a company with a turnover of less than Rs.25 lakhs per annum).
  • Get Started
  • Premium Package
  • 25499 __
  • Bookkeeping+ financial statement preparation+ annual report / director’s report / board resolution preparation+ MCA annual return filing+ income tax return filing+ statutory audit+ 1 year dedicated compliance manager support (for a company with a turnover of less than Rs.50 lakhs per annum).
  • Get Started
Frequently Asked Questions
Why should I form an OPC?

An OPC is a good alternative to running a sole proprietorship, largely because it gives limited liability to the business owner. This means that your liability is limited to the amount you’ve invested in the business; business debts cannot be recovered from personal possessions. Also, a sole proprietorship ceases to exist on the death of its promoter. In the case of an OPC, the nominee director takes over and the entity continues to exist. Single entrepreneurs who do not have another partner to start a private limited company may also consider it.

Who can register an OPC?

Only Indian residents can register an OPCs, and that, too, only one at a time, as per the specifications of the Ministry of Corporate Affairs.

What are the mandatory requirements of an OPC?

All such businesses must maintain books of accounts, comply with statutory audit requirements and submit income tax returns and annual filings with the RoC.

How much capital is required to start an OPC?

There is no difference in capital requirement between an OPC and a private limited company. It needs an authorised capital of Rs. 1 lakh to begin with, but none of this actually needs to be paid-up. This means that you don’t really need to invest any money into the business.

What are the tax advantages available to an OPC?

No general advantages; though some industry-specific advantages are available. Tax is to be paid at flat rate of 30% on profits, Dividend Distribution Tax applies, as does Minimum Alternate Tax.

What is the main drawback of an OPC?

The MCA is skeptical about a single person in charge of a large corporation. Therefore, it requires all OPCs to be converted into private limited or public limited companies on crossing a certain revenue number. Currently, in case of an average turnover of Rs. 2 crore or more for the three consecutive years or a paid-up capital of over Rs. 50 lakh, the OPC must mandatorily be converted into an OPC.

How much does it cost to run an OPC?

The cost of an OPC is only marginally lower than that of a private limited company. You’ll be shelling out around Rs. 12,000 to incorporate, then paying around Rs. 15,000 a year in compliance fees and an auditor to inspect your books.

How many directors can there by in an OPC?

An OPC has certain limitations. The person starting the business is its only director and shareholder. There is also a nominee director, but this person has no power whatsoever for raising equity funds or offer employee stock options. The nominee exists only to take over in case of the death or incapacitation of the director. The nominee is chosen by the director, and can be anyone, such as your spouse, parents or siblings. The nominee will need to provide identity proof during registration.

Can I start more than one OPC at a time?

No, an individual can form only one OPC at a time. This rule applies to the nominee in an OPC, too.


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