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9521216548|7689862351
info@onepointindia.in
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OPC Compliance

OPC Compliance

Complete compliance services for One Person Company - ROC filings, annual returns, and income tax compliance

₹10,000₹20,00050% OFF
  • Form AOC-4 & MGT-7 Filing
  • Income Tax Return (ITR-6)
  • Statutory Audit Support
  • Board Meeting Minutes
  • AGM Compliance
  • Compliance Calendar

Get Started Today!

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8 REASONS FOR OPC
COMPLIANCE

⚖️

Legal Requirement

Mandatory under Companies Act 2013 for all OPCs

💰

Avoid Penalties

Non-compliance attracts heavy penalties and late fees

🛡️

Active Status

Maintain active status with MCA and avoid striking off

🏦

Banking Requirements

Banks require updated compliance for loans and credit

🤝

Business Credibility

Compliance builds trust with clients and partners

📊

Tax Benefits

Proper compliance ensures tax deductions and benefits

✅

Reduced Compliance

OPC has fewer compliance requirements than private companies

📈

Growth & Conversion

Compliance enables smooth conversion to private company

What is OPC Compliance?

A One Person Company (OPC) is a type of company that can be formed with just one person as a member. OPC combines the benefits of sole proprietorship with limited liability protection. Compliance under the Companies Act, 2013, is mandatory for all OPCs and requires filing specific forms with the Ministry of Corporate Affairs (MCA).

OPC compliance involves filing annual returns with MCA, maintaining proper books of accounts, getting accounts audited (if turnover exceeds specified limits), filing income tax returns (ITR-6), conducting board meetings (at least one every half year), and ensuring compliance with all provisions of the Companies Act. OPCs enjoy certain relaxations compared to private companies, such as no requirement for AGM, but still need to maintain proper compliance.

Timely compliance ensures the OPC maintains its active status, avoids penalties, and can continue operations smoothly. Non-compliance can lead to penalties, striking off from ROC register, and loss of limited liability protection. OPCs must also maintain a nominee who will take over in case of the member's death or incapacity.

1 Member
Single Person
1 Director
Minimum Required
Reduced
Compliance Burden

Board Meeting Requirements

Board Meeting Frequency:

At least one board meeting should be organized every half year (6 months).

•Maximum gap between two meetings: 6 months
•Minutes of meeting must be maintained
•Resolutions must be passed and recorded

Annual General Meeting (AGM)

For Newly Incorporated OPC:

First AGM must be held within:

  • ✓18 months from the date of incorporation, OR
  • ✓9 months from the closing of the first financial year, whichever is earlier

For Subsequent Years:

Annual General Meeting must be held within 6 months of the completion of the financial year.

Note: OPCs are exempt from holding AGM, but must inform the Registrar of Companies about income, expenditure, and other details to avoid penalties.

Forms Needed for Annual Compliance

AOC-4

Financial Statements

Form AOC-4 is used for filing financial statements including Balance Sheet, Profit & Loss Account, and other financial documents with the Registrar of Companies.

•Contains Balance Sheet and P&L Account
•Must be certified by CA
•Due within 180 days of AGM
MGT-7

Annual Return

Form MGT-7 is used for filing annual return containing details of members, directors, meetings, share capital, and other statutory information.

•Contains member and director details
•Must be certified by CS or Director
•Due within 60 days of AGM

Due Dates for Filing Forms:

Form AOC-4:

Financial statements should be filed within 180 days of the Annual General Meeting.

Form MGT-7:

Annual return should be filed within 60 days of the Annual General Meeting.

Advantages of One Person Company

🛡️

Limited Liability

Member's liability is limited to share capital, personal assets protected

📋

Reduced Compliance

Fewer compliance requirements compared to private companies

💰

Tax Deductions

Eligible for various tax deductions and benefits

🔄

Easy Transfer

Easy transfer of ownership through share transfer

💳

Fund Acquisition

Easier to acquire funds and investments

🏢

Separate Entity

OPC is a separate legal entity distinct from the member

♾️

Perpetual Succession

Company continues even after member's death (via nominee)

👤

Single Ownership

Complete control with single member ownership

⭐

Professional Image

Better credibility and professional image than proprietorship

Annual Compliance Requirements

Form AOC-4 - Financial Statements

Filing of Balance Sheet, P&L Account, and financial statements with ROC

Deadline:Within 180 days of AGM
Penalty:₹100/day (max ₹5 lakhs)
Audit:Required if turnover > ₹2 crores

Form MGT-7 - Annual Return

Annual return with details of members, directors, meetings, and changes

Deadline:Within 60 days of AGM
Penalty:₹100/day (max ₹3 lakhs)
Audit:Not required

Income Tax Return (ITR-6)

File ITR-6 with income tax department

Deadline:30th September (audited) / 31st July (non-audited)
Penalty:Interest + late filing penalty
Audit:Required if turnover > ₹1 crore

Board Meeting

Conduct and record at least one board meeting every half year

Deadline:At least one every 6 months
Penalty:₹25,000 to company and directors
Audit:Not required

Statutory Audit

Get accounts audited by CA if turnover exceeds ₹2 crores

Deadline:Before filing AOC-4
Penalty:Non-compliance affects filings
Audit:Required if turnover > ₹2 crores

Director KYC (DIR-3 KYC)

Annual KYC for all directors having DIN

Deadline:Before 30th September
Penalty:₹5,000 + DIN deactivation
Audit:Not required

Procedure for Filing Annual Compliance

1

Documentation

Collect all essential documents including invoices, bank statements, credit card statements, TDS challans, PAN, Aadhaar, and registered office proof

2

Balance Sheet & Income Tax

Prepare Balance Sheet, Profit & Loss Account, and income tax computation as per Companies Act and Income Tax Act

3

Audit Report

Get accounts audited by a practicing Chartered Accountant if turnover exceeds ₹2 crores

4

Board Meeting

Conduct board meeting to approve financial statements and annual return

5

File Form AOC-4

File Form AOC-4 (Financial Statements) with ROC within 180 days of AGM

6

File Form MGT-7

File Form MGT-7 (Annual Return) with ROC within 60 days of AGM

Our OPC Compliance Services

1

Form AOC-4 & MGT-7 Filing

Complete filing of financial statements and annual return with ROC

2

Income Tax Return (ITR-6)

ITR-6 filing with proper tax computation and deductions

3

Statutory Audit

Coordination with CA for audit if turnover exceeds limits

4

Board Meeting Support

Complete board meeting conduct, minutes, and resolutions

5

AGM Compliance

AGM conduct and compliance (if applicable)

6

Director KYC

Annual DIR-3 KYC filing for all directors

7

Books Maintenance

Proper maintenance of books of accounts and records

8

Event-Based Filings

All change-related filings like address change, director changes

9

Nominee Management

Assistance in nominee appointment and changes

10

Compliance Calendar

Personalized calendar with all due dates and reminders

Documents Required

1Company Documents

  • ✓ Certificate of Incorporation
  • ✓ MOA & AOA
  • ✓ PAN & TAN of Company
  • ✓ Previous Financial Statements
  • ✓ Previous Year ITR & Acknowledgment

2Financial Records

  • ✓ Invoices (Purchase & Sales)
  • ✓ Bank Statements (All accounts)
  • ✓ Credit Card Statements
  • ✓ TDS Challans
  • ✓ Books of Accounts

3Identity & Address Proof

  • ✓ PAN Card of Director/Member
  • ✓ Aadhaar Card
  • ✓ Passport Copy (if applicable)
  • ✓ Proof of Residence
  • ✓ Bank Statement

4Registered Office Proof

  • ✓ Property Tax Receipt
  • ✓ Electricity/Water Bill
  • ✓ Rent Agreement (if rented)
  • ✓ NOC from Owner (if rented)
  • ✓ Address Proof Documents

Important Note:

OPCs must maintain all financial records, invoices, bank statements, and supporting documents for audit and filing purposes. Proper documentation is essential for claiming tax deductions and maintaining compliance.

OPC Compliance Process

Complete annual compliance in systematic steps

1

Document

Collect Records

2

Books

Finalize Accounts

3

Audit

CA Audit

4

Board

Board Meeting

5

AOC-4

File Financials

6

MGT-7

File Annual Return

7

ITR-6

File Income Tax

Year-round Activity
Average Time to Complete

Frequently Asked Questions

Q1.What is known as One Person Company (OPC)?
A One Person Company (OPC) is a type of company that can be formed with just one person as a member. It combines the benefits of sole proprietorship with limited liability protection. Key features: (1) Only one member required, (2) Limited liability protection, (3) Separate legal entity, (4) Perpetual succession through nominee, (5) Reduced compliance compared to private companies, (6) Must have a nominee who takes over in case of member's death or incapacity, (7) Can have minimum 1 director (same person can be member and director), (8) Must convert to private company if turnover exceeds ₹2 crores or paid-up capital exceeds ₹50 lakhs.
Q2.How much money is needed to establish an OPC?
There is no minimum capital requirement specified for OPC under Companies Act 2013. However: (1) OPC can be incorporated with any amount of share capital, (2) Minimum share capital is typically ₹1 (one rupee), (3) No maximum limit on share capital, (4) Must convert to private company if paid-up capital exceeds ₹50 lakhs, (5) Share capital can be increased as per business needs, (6) Capital can be in form of cash or kind (with proper valuation). The actual capital requirement depends on business needs, but legally, even ₹1 is sufficient to incorporate an OPC.
Q3.How one person company can be registered?
OPC registration process: (1) Obtain Digital Signature Certificate (DSC) for the member, (2) Apply for Director Identification Number (DIN) for the director, (3) Check name availability and reserve name with ROC, (4) Prepare Memorandum of Association (MOA) and Articles of Association (AOA), (5) Appoint a nominee (mandatory for OPC), (6) File incorporation forms (SPICe+ form) with ROC, (7) Pay registration fees and stamp duty, (8) Obtain Certificate of Incorporation from ROC, (9) Apply for PAN and TAN, (10) Open bank account. The entire process typically takes 10-15 days. Professional assistance is recommended for smooth registration.
Q4.Who can become a nominee of One Person Company?
Nominee requirements: (1) Must be a natural person (individual), (2) Must be an Indian citizen and resident of India, (3) Cannot be a minor, (4) Must give consent to become nominee, (5) Nominee will become member in case of original member's death or incapacity, (6) Nominee can be changed anytime with proper procedure, (7) Nominee must be appointed at the time of incorporation, (8) Nominee's name must be mentioned in MOA. The nominee acts as a successor to the member and ensures continuity of the OPC. Nominee cannot be a company, partnership firm, or any artificial person.
Q5.How nominee can be changed for my company?
Nominee can be changed by: (1) Filing Form INC-3 with ROC, (2) Obtaining consent from new nominee, (3) Getting consent from existing nominee (if applicable), (4) Passing board resolution for change, (5) Paying prescribed fees, (6) Updating MOA with new nominee details. The change must be filed within 30 days of the change. New nominee must meet all eligibility criteria (Indian citizen, resident, natural person, not minor). The change is effective once approved by ROC. Nominee change is a simple process and can be done multiple times as per business needs.
Q6.How many directors can join in One Person Company?
OPC director requirements: (1) Minimum 1 director required (can be the member himself), (2) Maximum 15 directors allowed (can be increased to 200 with special resolution), (3) At least one director must be resident of India (stayed in India for at least 182 days in previous calendar year), (4) Director must have DIN (Director Identification Number), (5) Director must have DSC (Digital Signature Certificate) for e-filing, (6) Same person can be member, director, and nominee. Most OPCs operate with single director who is also the member. Additional directors can be appointed as business grows.
Q7.Can I create more than 1 One Person Company?
No, a person can be a member of only ONE One Person Company at a time. However: (1) Can be director in multiple companies (subject to maximum 20 directorships), (2) Can be member of other types of companies (private, public, etc.), (3) Cannot incorporate or be member of second OPC until first OPC is closed or converted, (4) This restriction applies to natural persons only, (5) If person wants to start another business, must either close first OPC or convert it to private company. This restriction ensures that OPC structure is used genuinely for single-person businesses and not for multiple businesses.
Q8.Can a person become member in how many One Person Company?
A person can be a member of only ONE One Person Company at a time. This is a strict restriction under Companies Act 2013. However, the person can: (1) Be director in multiple companies (up to 20 companies), (2) Be member/shareholder in private companies, public companies, etc., (3) Be partner in partnership firms, (4) Have proprietorship business. The restriction applies only to OPC membership. If a person wants to start another OPC, they must first close or convert the existing OPC. This ensures OPC is used for genuine single-person businesses.
Q9.Who can be a member of a One Person Company?
Eligible members: (1) Natural person (individual) who is Indian citizen and resident of India, (2) Must be 18 years or above (not minor), (3) Must have valid PAN, (4) Must not be disqualified under Companies Act. Cannot be member: (1) Non-Resident Indian (NRI), (2) Foreign citizen, (3) Minor, (4) Company, partnership firm, or any artificial person, (5) Person who is already member of another OPC, (6) Person disqualified to be director. The member must be a natural person who is Indian citizen and resident. Nominee must also meet same criteria.
Q10.Who cannot create an OPC?
Cannot create OPC: (1) Non-Resident Indians (NRIs) - must be resident Indian, (2) Minors - must be 18+ years, (3) Foreign citizens - must be Indian citizen, (4) Corporate bodies - companies, LLPs, partnership firms cannot be members, (5) Persons already member of another OPC - can have only one OPC, (6) Persons disqualified to be director under Companies Act, (7) Persons without valid PAN. Only natural persons who are Indian citizens and residents can form OPC. This ensures OPC is used for genuine single-person businesses by resident Indians.
Q11.What happens if death of company member took place?
On member's death: (1) Nominee automatically becomes the member of OPC, (2) Nominee must inform ROC about the change within 30 days, (3) Nominee can either continue the OPC or convert it to private company, (4) If nominee doesn't want to continue, OPC can be wound up, (5) Nominee gets all rights and obligations of original member, (6) OPC continues as separate legal entity, (7) Business operations can continue seamlessly. This is one of the key advantages of OPC - perpetual succession through nominee. The nominee must meet all eligibility criteria and can operate the OPC or convert it as per business needs.
Q12.Is there any threshold limit for One Person Company to be converted into private or public company?
Yes, OPC must convert to private company if: (1) Paid-up share capital exceeds ₹50 lakhs, OR (2) Average annual turnover exceeds ₹2 crores for 3 consecutive years. Conversion process: (1) File Form INC-6 with ROC, (2) Pass special resolution, (3) Alter MOA and AOA, (4) Add 'Private Limited' to name, (5) Increase minimum directors to 2, (6) Increase minimum members to 2, (7) Comply with private company provisions. Conversion is mandatory once threshold is crossed. OPC cannot continue beyond these limits. After conversion, all private company compliance applies.
Q13.What are the minimum needs of OPC Company?
Minimum requirements: (1) 1 Director - minimum one director required (can be member himself), (2) 1 Shareholder - only one member required, (3) PAN - Permanent Account Number mandatory, (4) DSC - Digital Signature Certificate for e-filing, (5) Minimum Share Capital - technically ₹1 (no minimum specified), (6) Nominee - mandatory appointment of nominee, (7) Registered Office - must have registered office in India, (8) DIN - Director Identification Number for director. These are the basic requirements. OPC has fewer requirements compared to private companies, making it easier to start and operate.
Q14.Is Foreign Direct Investment approved for One Person Company?
FDI in OPC: (1) OPC can receive FDI only through automatic route, (2) Subject to FDI policy and sectoral caps, (3) Must comply with FEMA regulations, (4) Must file FC-GPR with RBI, (5) Cannot receive FDI in prohibited sectors, (6) Must maintain proper documentation. However, since OPC member must be Indian resident, direct foreign investment by foreign person is not possible. But OPC can receive investment from Indian companies that have foreign investment. OPC structure is primarily for resident Indian entrepreneurs, so FDI is limited.
Q15.Does an OPC need organizing annual general meeting?
OPCs are exempt from holding Annual General Meeting (AGM). However: (1) Must inform Registrar of Companies about income, expenditure, and other details, (2) Must file annual returns (Form MGT-7) and financial statements (Form AOC-4), (3) Must conduct board meetings (at least one every 6 months), (4) Must maintain proper books of accounts, (5) Must get accounts audited if turnover exceeds ₹2 crores. While AGM is not mandatory, OPC must still comply with annual filing requirements. This is one of the key relaxations for OPC compared to private companies.
Q16.Is it compulsory to file annual compliances of One Person Company?
Yes, annual compliance is mandatory for OPC: (1) Form AOC-4 (Financial Statements) - within 180 days of AGM, (2) Form MGT-7 (Annual Return) - within 60 days of AGM, (3) ITR-6 (Income Tax Return) - by 30th September (audited) or 31st July (non-audited), (4) Board Meeting - at least one every 6 months, (5) Statutory Audit - if turnover exceeds ₹2 crores, (6) Director KYC - before 30th September. Non-compliance attracts penalties: ₹100/day for late filing, striking off from ROC register, loss of limited liability protection. Compliance is mandatory even if there is no business activity.
Q17.What are the effects of non-compliance of annual filings?
Effects of non-compliance: (1) Penalty of ₹100 per day for each form not filed (Form AOC-4 max ₹5 lakhs, Form MGT-7 max ₹3 lakhs), (2) Company marked as 'Active Non-Compliant' by MCA, (3) Directors may face penalties and prosecution, (4) Company may be struck off from ROC register, (5) Loss of limited liability protection, (6) Bank accounts may be frozen, (7) Cannot enter into contracts or agreements, (8) Directors disqualified from being director in other companies, (9) Difficulty in obtaining loans and credit, (10) Loss of business credibility. It's crucial to maintain timely compliance to avoid these consequences.

Why Choose Our OPC Services?

👤

OPC Expertise

Specialized knowledge of OPC regulations and compliance

📋

Reduced Compliance

Help you navigate reduced compliance requirements

⏰

Timely Filings

Never miss deadlines - avoid ₹100/day penalties

💰

Cost Effective

Affordable compliance services starting at ₹10,000/year

🛡️

Limited Liability

Ensure your limited liability protection is maintained

🔍

Audit Support

Complete coordination with statutory auditors

📊

Books Maintenance

Proper bookkeeping and accounting services

👥

Nominee Support

Assistance in nominee appointment and management

✅

Peace of Mind

Focus on business while we handle all compliance

Maintain Your OPC Compliance Effortlessly

Focus on growing your business while we handle all compliance requirements

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OPCs Served
100%
On-Time Filing
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