Registration of One Person Company (OPC Registration)
One Person Company (OPC) is the blend of Sole Proprietorship and Company. OPC came into effect after the introduction of the Companies Act 2013. OPC enjoys a corporate form of business, in fact it is a company having only one member.
CA/CS Assisted | 4.8/5 Rating
The key feature of One Person Company (OPC) is no restriction on minimum capital. OPC can be registered with a nominal amount of INR 10,000 as total Authorized Capital. The liability of members of OPC is limited maximum up to the shares subscribed, this gives leverage to individuals to limit its liability as compared to a sole proprietorship. To register as OPC the member needs to apply for the proposed name of the OPC and the Registrar of Companies will allow the name of the OPC. The name allotted by Registrar of Companies is unique and the member can enjoy the name title during the entire lifetime of the OPC.
One Person Company (OPC) is a form of a corporate company, thus it has a separate legal entity and the individual able to maintain the asset and liability of business separate from his/her asset and liability. OPC is much more flexible as compared to private limited or public limited company and the individual can enjoy its corporate status with minimum compliance as compared to another form of corporate business. Registration of OPC is done online on the portal of Ministry of Corporate Affairs, it can be accessed on www.mca.gov.in, post Registration OPC incorporation certificate carrying unique OPC identification number is issued by MCA.
We at ReturnFilings.Com will understand the purpose of your proposed One person Company (OPC) business and thereafter will provide you analysis of OPC Registration as compared to other form of business covering almost all scenarios to carry out business effectively and efficiently. Thereafter based upon the One Person Company (OPC) Registration Certificate we will obtain a PAN (Permanent Account Number) in the name of OPC who carry out the business, we at ReturnFilings.Com will apply for PAN on behalf of your OPC and thereafter provide registration under GST to carry out the trade and service activities, Obtaining Import Export Code (IEC) to carry out import or export activities, obtaining FSSAI Licence from Food Supply and Standards Authority of India to carry out merchandising in food related activities if required depending upon case to case basis, obtaining Udyog Aadhaar under Micro Small and Medium Enterprises (MSME) in order to avail MSME benefits, Obtaining TAN (Tax Deduction and Collection Account Number) in order to ease of business transactions. OPC can also register under start-up India scheme.
One person company (OPC) Annual Return or OPC compliance includes filing of MBP-1, DIR-8, AOC-4 and MGT-7. MBP-1 and DIR-8 related to disclosures made by Director to the OPC, e-form AOC-4 relates to filing of financial statement and e-form MGT-7 relates to annual return filing of the OPC. Apart from these compliance, OPC also need to adhere to tax filing and Tax Audit, tax audit is applicable if its turnover crosses the prescribed limit. Other OPC Compliance includes all return filing related to other ancillary registration obtained by the OPC such as GST, TAN, IEC etc.
One Person Company (OPC) Compliance are never-ending process, the rules and regulations use to change regularly, we keep a track on recent updates and notification and advice the same on a real-time basis to all concerned. Even after obtaining registration under various laws, we at ReturnFilings.Com also fulfill various OPC compliance on your behalf in order to ensure the proper and smooth functioning of business and to avoid unnecessary interest or penalty for non-compliance. We at ReturnFilings.Com are determinate to provide end to end solution; our motto is you concentrate on your business while we at ReturnFilings.Com will take care of all your compliance need.