OPC REGISTRATION

A One Person Company (OPC) must complete regular legal filings to maintain its active status as a separate legal entity. Even though an OPC has only one owner, the Ministry of Corporate Affairs (MCA) and the Income Tax Department require it to file annual forms and keep proper business records. 

Annual MCA Filings 

• Form AOC-4: This form is for your financial statements. You must file it within 180 days from the end of the financial year (usually by September 27).

• Form MGT-7A: This is a simplified annual return for small companies. It must be filed within 60 days of signing your financial statements.

• DIR-3 KYC: The director must update their personal details every year. The deadline for this form is September 30. 

Internal Records and Meetings

• Board Meetings: If the OPC has more than one director, it must hold at least two meetings a year. There must be a gap of at least 90 days between them. If you are the only director, you do not need to hold these meetings.

• No AGM: An OPC is fully exempt from holding an Annual General Meeting.

• Statutory Registers: You must maintain up-to-date record books at your office. This includes a register of members and a register of directors.

• Form DIR-8: The sole director must sign a form every year to show they are still qualified to run the company. 

Tax Compliances

• Income Tax Return: An OPC must file its tax returns using Form ITR-6 every year. The deadline is usually September 30.

• Statutory Audit: A qualified Chartered Accountant must audit your financial books before you file your annual papers.

• Other Taxes: Depending on your sales and employees, you may also need to file monthly or quarterly TDS, GST, PF, and ESI returns. 

One-Time Setup Filings

• Form INC-20A: This is a declaration to start your business operations. You must file it within 180 days of setting up your company.

• Form ADT-1: You must use this form to officially appoint your company auditor within 15 days of your first setup.

• Stamp Duty: You must pay stamp duty on your share certificates within 30 days of issuing them.