OPC Compliance
Ensure Compliance for Your One Person Company with OSBS Accounting Solutions Private Limited
One Person Company (OPC) compliance refers to the legal and regulatory requirements that a One Person Company must adhere to under Indian law. Established under the Companies Act, 2013, OPC is a business structure designed for individual entrepreneurs who want the benefits of limited liability while operating alone. It offers the flexibility of a private company with the added benefit of a single shareholder.
At OSBS Accounting Solutions Private Limited, we offer comprehensive OPC compliance services to help your business meet all statutory requirements. Our expert team ensures that your OPC adheres to all legal formalities, allowing you to focus on growing your business.
Key Aspects of OPC Compliance
Annual Filing with the Registrar of Companies (RoC): OPCs are required to file Annual Return (Form MGT-7) and Financial Statements (Form AOC-4) annually with the RoC.
Board Meetings and AGM Compliance: Even though an OPC has a single director, it must hold an Annual General Meeting (AGM) within six months from the end of the financial year.
Maintaining Financial Statements: OPCs must prepare and maintain financial statements in compliance with the accounting standards prescribed by the Ministry of Corporate Affairs (MCA).
Director’s Report: The OPC must prepare a Director’s Report, including important details about the company’s operations and financial status.
Tax Compliance: OPCs must file Income Tax Returns and comply with GST if applicable to the business.
Maintaining Statutory Registers: OPCs are required to maintain several statutory registers, including registers of directors, shareholders, and shareholding patterns.
Change in Nominee: The sole member of an OPC must nominate another person as a nominee for the company, and this must be updated with the RoC.
Why is OPC Compliance Important?
Avoid Legal Penalties: Non-compliance with OPC regulations can result in fines, penalties, or legal actions.
Maintain Business Integrity: Ensuring compliance builds trust with investors, partners, and clients.
Secure Tax Benefits: Compliant OPCs can benefit from various tax advantages under the Income Tax Act.
Growth and Funding Opportunities: Investors and financial institutions prefer compliant companies, making it easier to raise funds.
Ensure Continuity of Business: Compliant OPCs avoid risk of closure due to failure to meet regulatory obligations.
Key Compliance Requirements for OPCs in India
Incorporation Documents: OPCs must be registered with the Ministry of Corporate Affairs (MCA) and have all required incorporation documents.
Annual Return and Financial Statements Filing: OPCs must file Form MGT-7 (Annual Return) and Form AOC-4 (Financial Statements) with the RoC.
Tax Filing: OPCs must file Income Tax Returns (ITR) and GST Returns (if applicable) within the due dates.
Nominee Update: OPCs must ensure that the nominee of the sole member is updated with the RoC.
Statutory Register Maintenance: OPCs are required to maintain statutory registers of directors, shareholders, and their shareholding patterns.
Director’s Report: An OPC must prepare a Director's Report and ensure that it is filed along with the financial statements.
How OSBS Helps with OPC Compliance
Annual Filing Services: We ensure that all required annual filings, including Form MGT-7 and Form AOC-4, are filed on time with the RoC.
Tax and Accounting Compliance: We provide full support in ensuring that your Income Tax Returns and GST Returns are filed accurately and promptly.
Nominee Management: We help manage changes in nominee details and ensure that updates are made in compliance with the law.
Company Secretary Services: Our experts assist with all secretarial services and ensure that your OPC meets legal and statutory requirements.
Audit Support: We help ensure that your financial statements are properly audited and in compliance with Indian accounting standards.
Legal Updates: We keep you informed about any regulatory changes that may affect your OPC’s compliance status.
Why Choose OSBS for OPC Compliance Services?
Expert OPC Compliance Team: Our team is well-versed with all the legal and regulatory requirements for OPCs.
Timely Filings: We ensure that all filings are done on time, preventing unnecessary penalties.
Comprehensive Solutions: From annual filings to tax returns, we provide complete compliance services for your OPC.
Hassle-Free Process: Leave the legal and compliance requirements to us while you focus on growing your business.
Tailored Services: Our services are customized to suit the specific compliance needs of your OPC, ensuring full adherence to the law.
Stay Compliant and Grow Your OPC – Let OSBS Accounting Solutions Manage Your OPC Compliance Needs.
Trust OSBS Accounting Solutions Private Limited to help you stay compliant with all the regulations governing One Person Companies in India.
