One Person Company Annual Compliances refers to the filing of various documents on an annual basis. One person company can be formed by one person only, who can act as a director as well as a shareholder. There were no provisions of forming a One Person Company in the Old Companies Act 1956. with the introduction of the New Company Act 2013, the One Person Companies (OPCs) are speedily becoming prominent in entire India for doing business or providing services in various economic verticals by individual and innovative Entrepreneurs/Professionals.
Documents Required for the smooth compliance process
For a smooth compliance process, you need to provide the following documents.
MGT 7 Filing:
- List of main business activities
- Details of shares and shareholding
- List of debentures and loans
- Details of other securities held by the company
AOC 4 Filing:
- Balance Sheet
- Profit and Loss Account
- Director’s Report
- Auditor’s Report
- Notice of Annual General Meeting.
ITR 6 Filing:
- Purchase and Sale invoice.
- Expense invoice.
- PAN of the company
- Copy of TDS Challans/deposits
- Copy of VAT/Service Tax Returns
- Bank Statement for the year
- Credit Card Statement
Who needs to do it?
One Person Company needs to adhere to it. The return needs to be signed by the Company Secretary if not there than the Director of the company can sign the return.
What is the fee?
As per the fee schedule under company law, the filing fee starts from Rs. 2000.
The professional fee for OPC compliance starts from Rs. 15000
One Person Company Compliances and Annual Filing