One person Company means a company which is wholly managed and controlled by a single person. The management of OPC comprises of only one person which consists of 100% of shares in that company. All the important decisions related to OPC are taken by the director itself. Section 2(62) of Companies Act 2013, defines OPC as a company which has only one person as a member.
7 OPC Annual Compliances Checklist Dont Miss
OPC is under obligation to undergo with some yearly annual compliances, failure of which may attract some penalties as per the Companies Act, 2013. Annual compliance for OPC can be divided in 3 Parts.
- OPC Statutory Audit
- OPC Income Tax Return Filing
- OPC Annual ROC Filing
OPC is under obligation to submit annual reports. OPC Annual compliance may includes Auditor appointment , statutory auditing , annual ROC filing , DIN KYC of director and Income Tax filing.
Article Link : OPC Annual Compliances
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