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One Person Company (OPC)

A One Person Company Registration in India can be obtained under the Companies Act 2013 with just one single member and one Director.

What is a One Person Company?

One person company (OPC) in India is one of the easiest forms of corporate entities to manage. OPC is a hybrid of Sole-Proprietorship and Corporate form of business. It has been provided with various concessions in compliance requirements under the Companies Act. It is a form of a company where the compliance requirements are lesser than a private company. OPC registration is very easy and cheap process.

 

OPC Registration opens up new business opportunities for sole proprietors and entrepreneurs who also wish to enjoy the advantages of limited liability, and a separate legal entity as well. OPC does away the hassles of finding the right partner for starting a business as the registered entity. It requires only one person who will act as a member, shareholder, and director.

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Government Fees / Cost for OPC registration:

 

Government fees for registering a One Person Company (OPC) in India depends on the nominal Share Capital of the company. For e.g. The Government fees for the OPC registration whose Share Capital is 10,00,000 the Government fees would be 2,000/- rupees. Whereas if nominal share capital ranges between Rs. 10,00,000 to Rs. 50,00,000 – Rs 2,000. Rs. 200 will be added for every Rs. 10,000 or part thereof of nominal share capital.

 

However, there would be additional costs such as DIN application fees, stamp duties, form filing fees as well for OPC Incorporation in India.

 

Do not miss filing Form 20A once you have registered your OPC !

Price and Plan

Price may varies for different states in India
ESSENTIAL
₹ 6999/-
(All Inclusive)

  • Digital Signature Certificate

  • Director Identification Number

  • 1 Name Approval Application

  • Stamp duty on INR 1 Lakh Authorized Capital

  • Company Incorporation using SPICe+

  • MOA & AOA

  • PAN

  • TAN

  • 1 Share Certificate

ENHANCED
₹ 9999/-
(All Inclusive)

  • Digital Signature Certificate

  • Director Identification Number

  • 1 Name Approval Application

  • Stamp duty on INR 1 Lakh Authorized Capital

  • Company Incorporation using SPICe+

  • MOA & AOA

  • PAN

  • TAN

  • GST Registration

  • MSME REGISTRATION

ULTIMATE
₹ 25399/-
(All Inclusive)

  • Digital Signature Certificate

  • Director Identification Number

  • 1 Name Approval Application

  • Stamp duty on INR 1 Lakh Authorized Capital

  • Company Incorporation using SPICe+

  • MOA & AOA

  • PAN

  • TAN

  • SSI/MSME Registration

  • Trademark (1 application 1 class) (start ups, proprietorship & small business)

  • 1st Income Tax filing upto a turnover of Rs. 50 Lakhs

  • 1 Year TDS Filing upto 500 entries

  • 25 Copies of MOA

  • 25 Copies Of AOA

  • 10 Copies of Share Certificate

  • Company Seal

  • GST Registration

  • INC 20A Commencement of Business Certificate (form-20a)

  • First Auditor Appointment

  • 1st Annual Filing upto turnover of Rs. 50 Lakhs

  • Form ADT 1 (Auditor Appointment)

  • Form AOC -4 (Form for filing financial statement and other documents with the Registrar)

  • Form MGT -7 (Form for filing annual return by a company)

Compliance required for OPC

GST Registration

Every One Person company is required to get their GST Registration within 30 days of business incorporation  in India Under Goods & Service Tax Act. GST Registration is needed when the turnover is more than INR 40 lakhs or INR 20 lakhs in Special category states or If the One Person Company supplies goods intra-state or Provides goods and services online.

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GST Return

Once a One Person Company gets registered under GST, it becomes necessary to file GST returns for Private Limited Company. As filing of GST returns is mandatory for all the registered Taxpayers including companies. GST returns can be filed monthly, quarterly or yearly depending upon the types of GST returns form you are filing.

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Accounting

Every One Person company shall maintain proper books of accounts which shall represent an accurate and fair view of the state of affairs of the company. Accounting is necessary for the statutory audit, Annual filing and IT return filing which is mandatory once you start your Company. These books of accounts shall be audited by the auditor appointed by the company.

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Statutory Audit

Every One Person Company registered under the Companies Act, 2013, irrespective of its sales turnover or nature of business or capital must have its book of accounts audited each financial year. Thus, the Board of Directors of a One Person Company are required by law to appoint an Auditor within 30 days of incorporation of the company and thereafter conduct an audit of its financial statements each FY.

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MAT Audit

It is mandatory for the One Person Company to get their accounts audited under MAT i.e. Minimum Alternate Tax. The objective of the introduction of MAT was to bring into the tax net “zero tax companies” which in spite of having earned substantial book profits and having paid handsome dividends, do not pay any tax due to various tax concessions and incentives provided under the Income-tax Law.

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Income Tax Audit

Irrespective of turnover every One Person Company requires to get the tax audits under section 44AB done. The Tax audit under section 44AB aims to ascertain the compliance of various provisions of the Income-tax Law and the fulfillment of other requirements of the Income-tax Law. The tax audit limit under section 44AB is INR 1 Crores (5 crores where at least 95 percent turnover is made on digital transactions)

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ROC Annual filing

A One Person Company is mandatorily required to file 3 forms every year. Filing has to be done regarding submission of documents of financial statement, i.e. balance sheet, P&L account in ROC form AOC 4 and annual return in ROC form MGT-7. Company report about auditor’s appointment to ROC in Form ADT 1. Know more: ROC annual filing

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IEC Registration

All the One Person Company which are engaged in Import and Export of goods require to register the Import Export Code. IE code has lifetime validity. Importers are not allowed to proceed without this code and exporters can’t take benefit of exports from DGFT, customs, Export Promotion Council, if they don’t have this code.

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TM Registration

Registering a One Person Company with a name does not provide complete protection to the name or brand name. Ultimate protection for a business name is secured only by Trademark Registration of same. By trademark registration, you may get the ownership of your One Person Company’s name or brand name or logo etc.

Documents Required for One Person Company

Quick Checklist

  • Photograph of all the Directors and Shareholders

  • PAN Card of all the Directors and Shareholders

  • ID Proof of all the Directors and Shareholders (Driving License/Passport/Voter ID)

  •  Address Proof of all Directors and Shareholders (Latest Bank Statement / Electricity bill / Mobile bill / Telephone bill

  • Electricity Bill or any other utility bill for the address proof of the Registered Office

Specific Requirements

  • A Company must have a registered office in India. Documents like bank statement or electricity bill should not be older than 2 months. Along with that utility bill, rent agreement or sale deed and a No Objection Letter (NOC) from the landlord with his/her consent to use the office as a registered office of a company must be submitted.

How to Incorporate One Person Company

  1. Obtain DSC

  2. Reserve Your Company Name

  3. Submission of MOA & AOA

  4. Get Incorporation Certificate

  5. Get Company’s PAN & TAN

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