{"id":1556,"date":"2018-07-06T05:01:19","date_gmt":"2018-07-06T05:01:19","guid":{"rendered":"https:\/\/companyregistrationonline.in\/?p=1556"},"modified":"2025-08-21T04:51:50","modified_gmt":"2025-08-21T04:51:50","slug":"one-person-company-compliances-annual-filing","status":"publish","type":"post","link":"https:\/\/companyregistrationonline.in\/blog\/one-person-company-compliances-annual-filing\/","title":{"rendered":"One Person Company Compliances and Annual Filing!"},"content":{"rendered":"<p style=\"text-align: justify\">One Person Companies (OPCs) were introduced under the new Indian Companies Act of 2013. One-person companies are becoming rapidly popular in entire India for sole entrepreneurs\/professionals in various economic sectors. In respect of registration, a person company has many business administration &amp; management, and also statutory compliances as per the Companies Act of 2013. In simple words, <a href=\"https:\/\/companyregistrationonline.in\/opc-registration\/\">One Person Company Compliances<\/a> are some general rules under various sections that need to be followed.<\/p>\n<h2><strong>One Person Company Compliances<\/strong><\/h2>\n<h3><strong>Compliance with Companies Act 2013<\/strong><\/h3>\n<ul>\n<li style=\"text-align: justify\">Under Section 173(5), a one-person company must organize\u00a0at least\u00a0one board meeting half-yearly in a calendar year. As one meeting should be conducted between January to June and another one between July to December. The gap between the two meetings should not be less than 90 days. However, if the company has only 1 director, there is no requirement for such a meeting.<\/li>\n<li style=\"text-align: justify\">Under Section 139(1), <a href=\"https:\/\/companyregistrationonline.in\/blog\/be-ceo-with-one-person-company\/\">OPC Registration in India<\/a> is required to hold its Annual General Meeting to appoint a Statutory Auditor. Such an auditor should hold office from the conclusion of the first AGM to the conclusion of the 6th AGM.<\/li>\n<\/ul>\n<h3><strong>Financial statements of a One Person Company under the Companies Act 2013<\/strong><\/h3>\n<ul>\n<li style=\"text-align: justify\">Under Section 137(1) of the Companies Act, 2013, it is mandatory that in a <strong>board meeting,<\/strong> the company must adapt its financial statements and get it signed by the directors. It can be signed by one of the directors.<\/li>\n<li style=\"text-align: justify\">After getting it signed by the board of Directors, in Form AOC-4, within 180 days from 31st March of the financial year.<\/li>\n<li style=\"text-align: justify\">In a Person Company, the balance sheet, profit and loss account, auditor&#8217;s report, and notes to accounts are covered in the financial statements. There is no need to prepare Cash flow statements.<\/li>\n<li style=\"text-align: justify\">Within the 30 days from the date of incorporation, a chartered accountant in\u00a0practice must be appointed to audit all the books and accounts of the One Person Company. He must be the first auditor of the company.<\/li>\n<\/ul>\n<blockquote><p>Apply for OPC Registration with <strong>Company Registration Online<\/strong> today.<\/p><\/blockquote>\n<h3><strong>Annual return to be filed by the OPC with the Registrar of Companies<\/strong><\/h3>\n<ul>\n<li style=\"text-align: justify\">The annual return of a One Person Company shall be filed with the ROC as an attachment to Form MGT-7. Such an annual return has to be signed by the company secretary or, where there is no company secretary, by the director of the company.<\/li>\n<\/ul>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-1589\" title=\"One Person Company Compliances\" src=\"https:\/\/companyregistrationonline.in\/wp-content\/uploads\/2018\/07\/Income-Tax-Act-1961-300x169.png\" alt=\"One Person Company Compliances\" width=\"398\" height=\"224\" srcset=\"https:\/\/companyregistrationonline.in\/blog\/wp-content\/uploads\/2018\/07\/Income-Tax-Act-1961-200x113.png 200w, https:\/\/companyregistrationonline.in\/blog\/wp-content\/uploads\/2018\/07\/Income-Tax-Act-1961-300x169.png 300w, https:\/\/companyregistrationonline.in\/blog\/wp-content\/uploads\/2018\/07\/Income-Tax-Act-1961-400x225.png 400w, https:\/\/companyregistrationonline.in\/blog\/wp-content\/uploads\/2018\/07\/Income-Tax-Act-1961.png 560w\" sizes=\"(max-width: 398px) 100vw, 398px\" \/><\/p>\n<h3><strong>Compliance under the Income Tax Act 1961<\/strong><\/h3>\n<ul>\n<li style=\"text-align: justify\">Every One Person Company must file its income tax return in Form ITR 6 for the financial year on or before 30th September of the following fiscal year with the Income-tax Department. In simple words, it means that for the financial year 2017-2018, the income tax return in form ITR6 has to be filed on or before 30th September 2018.<\/li>\n<li style=\"text-align: justify\">If turnover exceeds Rs 2 Crore, an Every <a href=\"https:\/\/companyregistrationonline.in\/blog\/one-person-company-go-solo-grow-loud\/\">One Person Company Registration<\/a> is required to get their accounts audited under the Income Tax Act 1961, in addition to the annual tax return filing.<\/li>\n<li style=\"text-align: justify\">TDS regulations, GST Regulations, PF and ESI regulations are also some other Compliances of a One Person Company.<\/li>\n<li>\u00a0These are among the most important\u00a0<strong>One Person Company Compliances<\/strong>.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>One Person Companies (OPCs) were introduced under the new Indian Companies Act of 2013. One-person companies are becoming rapidly popular in entire India for sole  [&#8230;]<\/p>\n","protected":false},"author":5,"featured_media":1576,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[558,560],"tags":[395,93,15,396],"class_list":["post-1556","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company-registration","category-one-person-company","tag-annual-filing","tag-one-person-company","tag-opc","tag-opc-compliances-and-annual-filing"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>One Person Company Compliances and Annual Filing!<\/title>\n<meta name=\"description\" content=\"One Person Company Compliances under the Income Tax Act 1961. 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