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OPC Compliances

Description

One Person Company (OPC) Compliances refer to the regulatory requirements that a One Person Company must fulfill under the Companies Act, 2013 in India. These compliances ensure smooth business operations, legal validity, and avoidance of penalties from the Ministry of Corporate Affairs (MCA).

An OPC must file Annual Returns (MGT-7A) within 180 days of the financial year-end and submit Financial Statements (AOC-4) containing the balance sheet and audit reports. Appointing a Chartered Accountant (CA) for a statutory audit is mandatory. Additionally, OPCs must file Income Tax Returns (ITR), GST Returns (if applicable), and maintain proper financial records.

Unlike other companies, an OPC is required to hold at least one Board Meeting every six months. Failure to comply may lead to penalties and legal issues. Regular adherence to these compliance norms ensures the credibility, smooth functioning, and legal standing of the business while preventing unnecessary fines.

Document required to start OPC Compliances
  • Memorandum of Association (MoA)
  • Articles of Association (AoA)
  • Director Identification Number (DIN)
  • Digital Signature Certificate (DSC)
  • Proof of Registered Office Address
  • PAN and TAN

Steps To Register

Obtain Digital Signature Certificate (DSC)

The first step is to secure a Digital Signature Certificate (DSC) for the proposed director of the OPC. The DSC is essential for signing electronic documents and is required for filing forms online with the Ministry of Corporate Affairs (MCA).

Obtain Director Identification Number (DIN)

Next, apply for a Director Identification Number (DIN) for the proposed director. The DIN is a unique identification number issued by the MCA to individuals intending to be directors of companies. This step can be completed simultaneously with the application for name reservation .

Reserve Company Name

Apply for name reservation through the MCA portal using Form SPICe+ (Part A). Ensure that the chosen name is unique and does not resemble any existing company or trademark. The name should also comply with naming regulations under the Companies Act.

Prepare Memorandum and Articles of Association

Draft the Memorandum of Association (MoA) and Articles of Association (AoA) for your OPC. The MoA outlines the company’s objectives, while the AoA specifies the internal rules and regulations governing the company. These documents must be prepared carefully as they form the foundation of your company

File SPICe+ Form

Submit the SPICe+ form online through the MCA portal, including all necessary documents such as: MoA and AoA. Proof of registered office address. Consent from the nominee. Declarations required under various forms. Once submitted, pay the applicable registration fees. Upon approval, you will receive a Certificate of Incorporation, along with PAN and TAN for your OPC

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Testimonials

Getting our company registered was so easy with Register Mithra. They handled everything from start to finish and made the entire process stress-free. Their team explained every step in detail and took care of all the paperwork. Highly recommend for anyone looking for a hassle-free registration.
Manikanta
The onboarding process with Register Mithra was seamless and easy. They handled all the setup and transition so professionally that we were able to see results immediately. It felt like they were a part of our team from day one. Highly recommend for a smooth outsourcing experience.
Sai Charishma
The team at Register Mithra provided a customized solution for our unique registration needs. They were flexible with our requirements and helped us choose the best structure for our company. It felt like a truly tailored experience, and we couldn’t be happier with the outcome.
Anil kumar
Not only did Register Mithra help us with registration, but they also provided advice on compliance and offered tips for managing our new business. Their support went above and beyond what we expected. We’ve already recommended them to other entrepreneurs in our network.
Manasa Jyothi
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