One Person Company

What is OPC ?

The easiest arrangement for a licenced sole proprietorship company under the type of Pvt Ltd. with only one shareholder/owner is the OPC. A single/one owner gains full authority over the company with indebtedness

Eligibility Criteria

* The maximum amount of capital that a company can raise through the issuance of shares to shareholders is known as authorised capital. ... For Example: Suppose a firm includes a licensed of ₹50,00,000, then it can issue shares worth up to ₹ 50,00,000 to its shareholders and can't issue anything beyond it unless increase in authorized capital again.

NOTE:- *Government fee has been calculated on minimum contribution of Rs.1 lakh within the refill form.*
Stamp duty can differ from one state to the next and be paid accordingly.
* NRI/International directors or foreign shareholding firms will incur additional fees.

Fee

Professional fee, government fee, fees, 2 DSC, 2 DIN, and other petty expenses are all included in the above charges. The client is responsible for paying the stamp duty separately.

Post-Incorporation Requirements

Once the incorporation of Pvt Ltd Company is finished, it's subjected to follow all Without fail, the compliances cited under the Companies Act, 2013 Provisions. If the selected partners do not follow the rules, they may face severe penalties and perhaps be disqualified.

Creating a Current Bank Account

The first step is to create a current bank account in the company's name.

The First Auditor's Appointment

The Board of Directors should appoint an auditor within 30 days of the company's establishment.

The Share Certificate's Issuance and Allotment

Any corporation that receives money for an application must assign shares within 60 days of receiving the money. You must also issue the share certificates within two months of the company's incorporation, for which stamp duty must be paid.

Filing the Commencement of Business

You want to file the Commencement of Business i.e. Within 180 days of the company's incorporation, file Form INC 20A. This implies that your business must deposit the necessary capital into a bank account.

Annual Observance

Companies are obliged to file yearly accounts and returns, as well as income tax and ROC, every year. Taxboxindia.com will assist you in registering as well as completing your compliances at a low cost.

Registers and records required by law.

The specific records about a company and shareholders, directors, and the meetings held are mentioned in a statutory register. The companies are also meant to keep these records along with the normal accounting records.