Welcome to MyBizz Consultants Private Limited

One Person Company (OPC)

Annual Compliance for Startups
(Annual Compliance for Startups upto a turnover of 20 Lakhs)

Rs.15000/- all-inclusive

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Annual Compliances without Tax Audit
“Annual Compliance without Tax Audit ( Turnover less Than 1 Crore for Trading and Less Than 25 Lakhs for Service)”

Rs. 20000/- all-inclusive

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Annual Compliance with tax Audit
(For Turnover above 1 Crore in Trading and Rs 25 Lakhs in Service)

Rs. 40000/- all-inclusive

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Annual Compliance for One Person Company

Every OPC shall comply with Annual Requirements of ROC and Income Tax and shall file
1. Income Tax Return every year before 30th Sep
2. File Form 20B – Statement of Disclosure of ShareHolders and Directors – within 60 days from Date of Annual General Meeting (AGM)
3. File Form 23AC and 23ACA- Annual Accounts of Companies before 30th October every year.

ONE PERSON COMPANY INCORPORATION PROCESS

OPC Incorporation mybizzconsultants.com can incorporate a One Person Company in 14 to 20 days, subject to ROC processing time.

Obtaining DSC & DIN Digital Signature Certificate(DSC) and Director Identification Number(DIN) is required for the proposed Director of the OPC. DIN and DSC can be obtained for the proposed Director within 5 to 7 days.

Name Approval A minimum of one and a maximum of six proposed names must be submitted to the MCA. Subject to availability, naming guidelines and MCA processing time, Name Approval can be obtained in 5 to 7 working days.

OPC Incorporation Incorporation documents can be submitted to the MCA along with an application for incorporation. MCA will usually approve the application for incorporation in 5 to 7 days, subject to their processing time.

DOCUMENTS REQUIRED FOR OPC REGISTRATION

To be submitted by Director
➥ Scanned copy of PAN Card or Passport (Foreign Nationals & NRIs)
➥ Scanned copy of Voter’s ID/Passport/Driver’s License
➥ Scanned copy of Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill
➥ Scanned passport-sized photograph Specimen signature (blank document with signature)

Note: The director must self-attest the first three documents. In case of foreign nationals and NRIs, all the documents must be notarised (if currently in India or a non-Commonwealth country) or apostilled (if in a Commonwealth country).

For the Registered Office
➥ Scanned copy of Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill
➥ Scanned copy of Notarised Rental Agreement in English
➥ Scanned copy of No-objection Certificate from property owner
➥ Scanned copy of Sale Deed/Property Deed in English (in case of owned property)
Note: Your registered office need not be a commercial space; it can be your residence, too.

OPC REGISTRATION PROCESS

5 Working Days
The director must apply for the Digital Signature Certificate (DSC), which is necessary to file the company registration documents. For this, you will only need to provide a few scanned documents and details; our representatives will fill the form and submit it online.

7 Working Days
As soon as we apply for the DSC, we will ask you to pick a name for your company, and send us some scanned documents regarding it. These will be used to file INC-29 and the Memorandum of Association (MoA) and Articles of Association (AoA). The Certificate of Incorporation will be approved at the end of this process.

2 Working Days
Every company needs a registered Permanent Account Number (PAN) and Tax Account Number (TAN). We will make the application online ourselves, but you will need to courier hard copies of the required documents yourself. The PAN and TAN will be couriered to the your registered office address in 21 working days.

ADVANTAGES / Features OF ONE PERSON COMPANY

Separate Legal Entity

A company is a legal entity and a juristic person established under the Act. Therefore a company form of organization has wide legal capacity and can own property and also incur debts. The members (Shareholders/Directors) of a company have no liability to the creditors of a company for such debts.

Uninterrupted Existance

A company has ‘perpetual succession’, that is continued or uninterrupted existence until it is legally dissolved. A company, being a separate legal person, is unaffected by the death or other departure of any member but continues to be in existence irrespective of the changes in membership.

Borrowing Capacity

A company enjoys better avenues for borrowing of funds. It can issue debentures, secured as well as unsecured and can also accept deposits from the public, etc. Even banking and financial institutions prefer to render large financial assistance to a company rather than partnership firms or proprietary concerns.

Easy Transferability

Shares of a company limited by shares are transferable by a shareholder to any other person. Filing and signing a share transfer form and handing over the buyer of the shares along with share certificate can easily transfer shares.

Owning Property

A company being a juristic person, can acquire, own, enjoy and alienate, property in its own name. No shareholder can make any claim upon the property of the company so long as the company is a going concern.

Limited Liability

Limited Liability means the status of being legally responsible only to a limited amount for debts of a company. Unlike proprietorships and partnerships, in a limited liability company the liability of the members in respect of the company’s debts is limited.

One Person FAQ