Lighter, but still mandatory, annual filings for your OPC.
A One Person Company enjoys certain relaxations but still must complete key annual compliances with the MCA. An OPC must get its accounts audited, file its financial statements in Form AOC-4, and file the annual return in Form MGT-7A. Because an OPC has only one member, it is exempt from holding an Annual General Meeting, and board-meeting requirements are relaxed to one meeting in each half of the year. The OPC must also appoint an auditor, maintain statutory registers, and file its income tax return. Staying compliant avoids the same ₹100-per-day penalties that apply to other companies and keeps the OPC in good standing.
All One Person Companies.
Timelines and government fees are indicative and subject to processing by the relevant authority. Approval and its timing are decided by the authority and cannot be guaranteed.
No. An OPC is exempt from holding an Annual General Meeting.
Yes. Every OPC must have its financial statements audited each year.
An OPC files Form MGT-7A, the simplified annual return.
Tax Guider — A unit of Corpzen Advisors Private Limited, Chennai, Tamil Nadu.
+91 86950 08695 · info@taxguider.in · Mon – Sat · 10:00 AM – 7:00 PM