ONE PERSON COMPANY ANNUAL FILING
One Person company comes under Companies act 2013. It became popular because of its features.
The Process of E Filing OPC Annual Filing
- 1. visit the MCA website
- 2. Download the E form
- 3. to fill out the form
- 4. click the upload E form button for uploading
- 5. upload your E form
- 6. pay your fee online
One Person Company Annual Filing Overview
One Person company comes under Companies act 2013. It became popular because of its features. Not more than one person is required for incorporation of One Person Company. Annual filing of OPC is very important for every company which has to be submitted to the Registrar of Companies (ROC) which deals with the administration of the company
Deposition of the Annual Return Filing of the one person company
Deposition is important of the OPC filing as the law requires it , form no. MGT7 has to be submitted for filling the annual return . It should be filled by all OPC registered in India every year. The Annual return consists of information and documents that include several details of the company . The annual return also discloses the shareholding structure of the Company and changes in Directorship and details of transfers of securities.
Filing of the Financial Statements
Every OPC have to file its financial statements and necessary attachments, via e-form AOC 4 as per the section 137 of the companies act within the prescribed time limit. As mentioned in the Company law Every One Person Company shall file a copy of the financial statements that is adopted by its member, along with all the documents which are required for such financial statement it must be done within 180 days from the closure of the financial year. An individual need to submit all of his financial statements like Profit and loss, balance sheet and other audit accounts to the ROC
Cash flow does not play a major role in this
Income Tax Returns
You have to go with rules and regulation of the Income Tax Department of India. If your turnover is greater than one crore, then you have to necessarily file Income Tax Return online in form VI whose due date is 30th September. During this filing , you have mention your company’s details with some documents.
Required documents
Conclusion for Annual Filing of OPC
Income tax returns, Financial statement , annual statement and income tax return filing is must for every OPC. Law is required for all the above mentioned filings. Every year you have to connect with the concerned authority. You can easily file your application online on their official portal . In the case of failure of the filings, you may have to face legal problems, and you have to pay fine as well
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Frequently Asked Question
Only Indians residents can register for an One person company , and that too only one at a time
All the businesses should have to maintain books of accounts, comply with statutory audit requirements and submit income tax returns and annual filings with the RoC
An authorized capital of ₹1 lakh is needed to begin with, but none of this actually needs to be paid up
No you can form only one OPC at a time
PAN card or passport for NRIs ,Specimen signature or impression are few of the most important documents required for the registration process
Limited liability, continuous existence , greater credibility
There is No such general advantages but some industry-specific advantages are available. Tax is to be paid at a flat rate of 30% on profits, Dividend distribution tax applies, as does minimum alternate tax