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What is Annual Compliances of One Person (OPC) Company

One Person Company is forward thinking concept where promotes the incorporation of micro-businesses and persons with entrepreneurial dreams but has no time, resources or means to get more partners to execute the business plan. It can be considered as the combo of Sole proprietorship business model and the normal company legal entity business model, where the OPC company would enjoy the best of two worlds. The system is based on the companies Act 2013, where it was made possible for a single person to act as a company without the complexity of having partners. Such encouraging more people to come forward to start business. In One Person Company the person has Limited Liability for the shares he hold in the company he/she incorporated while operating an incorporation given in this case there is only sole shareholder.

The following filings make sure that the company is sticking to the rules and everything inside the company is happening by law and is recorded as proof. Failing to do so would lead to the licensing for the OPC company to be cancelled.

It is an serious offense in terms of legal actions if the company does not stay updated with the current law licensing, they would end up paying fine to the government as they failed to keep up the company regulations.

At Unilex Consultants we provide you a hassle free compliance process which would be dealt by our professionals within a short time frame and is subjective to governmental processing time. Our team takes care of the documentation and aids in provide you the realistic estimation of cost.

Documentation for Annual Compliances of One Person (OPC) Company


MOA/AOA

DSC

Incorporation Certificate

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OR


PACKAGES


Basic

13999/-
Inclusive all taxes

Auditor appointment
Preparation of Financial statements
Annual ROC Filing
IT return filing

Premium

20999/-
Inclusive all taxes

Auditor appointment
Preparation of Financial statements
Annual ROC Filing
IT return filing
GST returns for a year
TDS return
GST returns for a year

Standard

16999/-
Inclusive all taxes

Auditor appointment
Preparation of Financial statements
Annual ROC Filing
IT return filing
Maintenance of minutes

Note:

  • The above fees is for a company with a turnover of less than Rs 10 lac per annum.
  • The package included GST return filing upto 50 transactions at a single time in a relevant period.

Compliance’s Mandatory for One Person Company

Appointment of Auditor : A one person company would need to appoint a individual auditor or an firm take care of all the financial filings annually, Who shall hold office until Board of Directors specifically remove him.

Registers to be Maintained : All the companies belonging to the OPC category are expected to have statutory records maintained update for the following members, charges, loans and investments. The above would give an overview of how active the company has been on yearly basis.

Statutory audit of the Accounts : Every OPC company has to prepare its records on annual financial records, once the financial records and statements they must be produced to the registrar and is done to stay legal. Preparation of Cash flow is exempted in case of OPC.

Preparation of Board's Report : A report by Board of Directors prepared required to be laid before members in Annual General Meeting. The meetings need to be logged and the signed minutes need to be maintained at the Registered Office.


Copy of the Annual Return to be filed with Registrar : Every company shall file with the registrar a copy of the annual return Within sixty days from the date on which the annual general meeting is held Where no annual general meeting is held in any year within sixty days from the date on which the annual general meeting should have been held (i.e.30th September) together with the statement specifying the reasons for not holding the annual general meeting.

Copy of financial statement to be filed with Registrar : All OPC companies shall file a copy of the financial statements in E-form AOC-4 within 30 days from the date on which the annual general meeting is held.

Holding Board Meeting : Every company should hold meeting with the board members at least twice an year and the gap between both the meetings should not be more than 90 days.

Event Based Compliances :

    These are triggered based on happening of certain events.

  • Receipt of share application money.
  • Allotment of shares.
  • Transfer of shares.
  • Appointment/Resignation of directors.
  • Appointment of Managing Director/ Whole Time Director.
  • Executing agreement with related parties.
  • Change in the Bank signatories.
  • Change in the statutory auditor.

Failing to stay complaint

The actual regulations are followed by the Companies Act 2013 and any company failing to stay complaint would result in the company being induced to payable fines based on the type of failure to the law the company had or at certain cases it could even lead to imprisonment.

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  • “With a proficient team of professionals, Unilex provides a ready solution for every business related problem and never compromises on the final quality of services provided”. Navnit Kachalia
    Chairman and Managing Director, Navnit Group of
    Companies, Mumbai

  • “Getting your work done through Unilex is surely giving it in safe hands. Without a second thought, get associated with them”.

  • “Unilex has its unique way of meeting all your legal compliances and that too at a comparatively low cost.” Sudhir Budhrani
    Managing Director, Sudhir Life Sciences Pvt. Ltd.
    Indore

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