OPC Annual Maintenance Service

4.6 (88 Ratings)

One-person Company (OPC) enjoys a separate legal status and to retain that it is required to be compliant with its annual compliance filings. At the year-end, once after the financials preparation and statutory income tax filing, OPC has to report its activities and position to Ministry of corporate affairs by filing applicable forms. Failure to follow such compliances leads to penal consequences and continuance of such failure disqualifies the Director's position as well as resulting in the removal of the company's name.


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Frequently Asked Questions

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ROC compliances that are to be carried out by an OPC is yearly Annual return filing, issue of Share certificate, and maintenance of Statutory registers, minutes book etc. Along with the filing of Annual returns such as Form MGT 7 & Form AOC, Maintenance of Minutes book and Statutory registers, Timely issue of Share certificates, Yearly Disclosure of Interest by Directors are required to be maintained by an OPC. And also it is required to file the event-based compliances forms such as: New Allotment of Shares, Change of name and Main objects of the Company, Appointment & Resignation of Directors, Transfer of Shares, Change in the Registered Office, Change in the Authorized Capital/ Paid-up Capital etc. However, we strongly believe that every Entrepreneur has to focus on the business and leave the legal compliances to strong and trusted hands like us. Therefore, saving all the time, efforts and additionally it saves the penal consequences too.

Some of the compliance exemptions that are available for an OPC as compared to private limited company are : General meeting, board meetings, quorum, inclusion of cash flow statements, rotation of auditor, etc.

Since there is only a single director in OPC company, board of director meeting is exempted. However, if a OPC has more than one director, board of directors meeting to be held as per provisions of the Companies Act 2013.

Yes, every company has to compulsorily get its accounts audited by its statutory auditor every year, irrespective of whether the company has done the business or not. However, additionally a company has to get audited as per income tax act also if its turnover in the year exceeds a prescribed limit.

Yes, all the companies has to file annual returns with the ROC irrespective of whether the company has done business or not.

If the returns are not filed on time, it will attract additional fee as penalty. Moreover, the company and its directors may face further legal consequences. (1). The Company and its every officer who is in default shall be liable to a penalty of Rs.50,000.00. (2). In case of continuing failure, further penalty of Rs.100.00 for each day during which such failure continues, subject to a maximum of Rs.5,00,000.00. (1) The company shall be liable to a penalty of Rs.1000.00 for every day during which the failure continues but which shall not be more than Rs.10,00,000.00 (2) Every officer who is in default shall be liable to a penalty of Rs.1,00,000.00 (3) In case of continuing failure, further penalty of Rs.100.00 for each day during which such failure continues, subject to a maximum of five lakh rupees.