Why Choose (OPC) Registration
OPC is a relatively new form of business ownership introduced by Companies Act 2013
Now you can a have a company, with only 1 shareholder
Lower incorporation cost as compared to incorporating a Pvt. Ltd. Co.
Lower annual ROC filing cost as compared to a Pvt. Ltd. Co.
Inclusions in OPC Registration package
- Digital Signatures Certificates (DSC) of 1 Director
- Director Identification Nos. (DIN) of 1 Director
- Company name approval certificate
- Incorporation certificate
- PAN & TAN Registration
- Company stamp
- Assistance in opening current account in Bank
Time Involved in the Process of OPC Registration
Approx. 12-15 working days till getting Incorporation certificate
Documents Required for One Person Company (OPC)
- Copy of PAN card of Director
- Copy of Address proof of the Director (Any one of Passport or Voter id or Aadhar card)
- Proof of Business premises where OPC will be registered. (It can be from home also)
- In case of rented premises- Copy of rent agreement + Latest electricity bill in name of landlord + NOC
- In case of owned premises- Copy of sale deed + Latest electricity bill in name of owner + NOC
- 2 Colored passport size photograph of all Partners
- Mobile no., email ids of all partners, proposed name/s of OPC, objects of OPC
FAQ
At what rate OPC is taxed in India
OPC profit is taxed @ 30 % on profit. No slab benefit available.
What is the difference between traditional Pvt. Ltd. Co. and OPC?
In traditional Pvt. Ltd. Co., at least 2 persons are required to form a company, but in OPC a company can be formed with only 1 person
What is the minimum capital with which LLP can be started?
It can be started with capital of Rs. 1,00,000/-
WHAT ARE THE STEPS INVOLVED IN OPC REGISTRATION?
Firstly, Apply for Digital signature of the Director. Secondly apply for DIN of the Director .Thirdly apply for name approval/reservation, then file MOA, AOA and apply for incorporation. Finally get the certificate of OPC Registration India
Once OPC is registered what other formalities are required before starting operations?
- You need to apply for PAN and TAN no. of OPC, thereafter open current account in bank and deposit paid up share capital money
What are the periodical compliances which need to be done by OPC? How Simplitax India helps in same?
Normally, OPC has to do following compliances:
- Accounting or Book keeping [On daily basis]
- GST returns to be filed online monthly
- TDS returns of Salary paid and vendor payment is to be filed quarterly, if applicable
- Tax audit has to be got done by CA and audit report needs to be collected in case annual turnover is more than Rs 1 crore in case of trading business or Rs 25 lakh in case of professional business.
- Balance sheet and Profit and Loss account and other financials need to be prepared and maintained.
- Income tax return of LLP needs to be filed online annually before 30th September
- ROC returns (approx. 2 in nos.) needs to be filed annually
- Other need based compliances
- Advance tax needs to be paid periodically
Do I need to file returns and do other compliance even if there are no operations in the OPC?
Yes, you need to file NIL returns, prepare balance sheet and profit and loss account even in case of none or less transactions