One Person Company (OPC) Registration and Compliance

Everything You Should Know About an OPC

• Limited liability for the sole owner.
• Independent decision-making.
• Easy to raise funds via VC, angel investors.
• OPC is a separate legal entity.
• Easy to sell with minimum documentation.

Documents Required for OPC Registration

• Minimum 1 Director (Indian Resident)
• Minimum 1 Shareholder.
• PAN Card of Director.
• DIN of Director.
• Address Proof of Firm.
• DSC (Digital Signature Certificate).

Compliance of One Person Company (OPC)

General Advisory

• Company rubber stamp and letterhead are advisable after incorporation.

Board Meeting

• Within 30 days of incorporation.
• 7 days’ prior notice required.

Subsequent Board Meetings

• Minimum 4 per year.
• Not more than 120 days between meetings.

First Auditor

• To be appointed within 30 days.
• ADT-1 is not mandatory for first auditor.

Commencement of Business

• Mandatory within 180 days of incorporation (if share capital exists).

Annual General Meeting

• Before 30th September.
• During business hours and not on public holidays.
• 21 clear days’ notice is required.

Annual Return – Form MGT-7

• To be filed within 60 days of the AGM.
• Covers 1st April to 31st March.

Financial Statements – Form AOC-4

• Includes Balance Sheet, Profit & Loss, Director’s Report.
• Must be filed within 30 days of AGM.

Statutory Audit of Accounts

• Mandatory annual audit by a Chartered Accountant.
• Filing of Audit Report and Financials with Registrar.

Goods and Services Tax (GST) Compliance

1. GSTR-1/Sahaj:

• Monthly if turnover > ₹1.5 crores
• Quarterly if turnover < ₹1.5 crores

2. GSTR-3B:

• Mandatory monthly.

3. Annual GST Return:

• Recommended if turnover > ₹5 crores.

4. Other Compliances:

• E-Way Bill
• HSN codes as applicable