Annual Compliance for One Person Company

Basic Package

10000

  • Annual return filing with a turnover of less than Rs.10 lakhs per annum
  • Income tax return filing with a turnover of less than Rs.10 lakhs per annum
  • Compliance management with a turnover of less than Rs.10 lakhs per annum
  • Secretarial services with a turnover of less than Rs.10 lakhs per annum

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Gold Package

20000

  • Annual return filing with a turnover of less than Rs.50 lakhs per annum
  • Income tax return filing with a turnover of less than Rs.50 lakhs per annum
  • Compliance management with a turnover of less than Rs.50 lakhs per annum
  • Secretarial services with a turnover of less than Rs.50 lakhs per annum
 

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Platinum Package

30000

  • Annual return filing with a turnover of less than Rs.1 Crore per annum
  • Income tax return filing with a turnover of less than Rs.1 Crore per annum
  • Compliance management with a turnover of less than Rs.1 Crore per annum
  • Secretarial services with a turnover of less than Rs.1 Crore per annum
 

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What is OPC Annual Compliance

As per Company Law, every One-Person Company needs to file annual Compliance. The return needs to be signed by the Company Secretary. In absence of a Company Secretary, the director of the company can sign the return. A one-person company (OPC) is exempt from holding the annual general meeting (AGM) and making a rotation of the auditors. OPC (One Person Company) Annual Compliance consists of below activities.

  1. Filing of the Annual Return: - It Contains the Statement of Disclosure of Shareholders and Directors,
  2. Filing the Financial Statements: - It Contains all the monetary and finance related audited accounts of the OPC, financial statements filing has to be filed with the concerned ROC, on or before 30th October every year.
  3. Filing Income Tax Returns: - Income tax return filing for OPC has to be completed on or before 30th September every year. If in case annual turnover of the OPC exceeds Rs 1Crore, then tax audit is mandatory.

Decision

Is Annual compliance must for a One-Person company or good to have activity?

It’s mandatory for all One-Person companies (OPC’s) to file annual compliance and other tax-related returns. Failing which will lead to heavy penalties or your One-person company in defaulter list of ROC. 

Next step is to understand various implications.

Three Easy Steps for OPC Compliance

  1. Connect to Corpseed team
  2. Provide necessary documents required for Compliance & other filing activities.
  3. Our Compliance expert will help your One-Person company to complete all annual and other mandatory Compliance.

Benefits

  • Avoid financial penalties
  • Build trust & brand loyalty
  • Better visibility of operations
  • Avoid any legal implications
  • Avoid getting your company in the Defaulter list

Corpseed Procedure for OPC Compliance

Step 1: - Corpseed receives your request for One Person Company Compliance

Step 2: - We will assign a dedicated resource who is professionally skilled in company Compliance, who will help you to maintain the compliance for your One-Person Company. You can get in touch with the assigned resource at any point of time for consultation and assistance regarding Compliance throughout your journey with Corpseed.

Step 3: - Our resource will help your Company to maintain accounts and prepare the financial statement for each year.

Step 4: - Our resource will collect all the required documents/information and will complete all below mentioned Compliance activities for your Company.

  1. Filing of the Annual Return:
  2. Filing the Financial Statements:
  3. Filing Income Tax Returns:

Step 5: - Our resource will collect all the required documents/information and file your Company income tax return with ROC (Registrar of Companies) along with the mandatory documents after getting final confirmation from your finance team if required.

Step 6: - Our resource will help in accounts audit for your Company.

Step 7: - Our resource will draft minutes of meetings, notices and will also maintain the statutory register.

Step 8: - Above 7 steps completes your One-Person Company Compliance under Companies Act 2013.

Frequently asked questions (FAQs)

Corporate Compliance are set off checks set by MCA and the Company Act 2013 to have an eye on company’s financial as well as operational activities.

1.    Filing of the Annual Return

2.    Filing the Financial Statements

3.    Filing Income Tax Returns

Yes. Heavy penalties are there in case of delay in the annual filing.

Ministry of Corporate Affairs (MCA) & The Company Act 2013

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