DMG Tax Accounting & Investment helps you make the reservation of One Person Company’s name and helps you in not just filing the SPICe+ but also submitting it to MCA. We assure you that our Company DMG Tax Accounting & Investment supports you until you get the name reservation and raises One Person Company form INC-24, which is needed when you want to change the name of the Organization. Also, the One Person Company’s idea was introduced by the Companies Act in 2013. As for the One Person company Name Reservation and after that One Person Company Change Reserved Name, you need One Person Company compliances are completely submitted securely by the experts of DMG Tax Accounting & Investment. As you don’t have to come to our office, today everything is digitalized as you can communicate from our website DMG Tax Accounting and Investment, or you can connect to us through Email-Id or Number. Our Company DMG Tax Accounting & Investment is One of the Best One Person Company legal registration service providers. Also, the One Person Company Registration process is entirely done by our company and helps you protect your data with us. i.e., One Person Company Required Documents which is mention below. And lastly, not only DMG Tax Accounting & Investment Company is likely to be known as the best legal service provider for the One Person Registration process, but we also assure you that our company manages to give the best service.
All you need to know
As we know, in India, One person Company (OPC) is one of the most accessible forms of the corporate system. OPC is a mixture of Sole-Proprietorship and Business Corporate. It has already been given with different allowance in compliance requirements under the Companies Act. In this form of company, you require less compliance than a private limited company. OPC registration is a straightforward process, and our website DMG Tax Accounting & Investment provides you with the service of OPC registrations.
DMG Tax Accounting & Investment is a distinguished business platform and a progressive concept. It helps in end-to-end combination, Submission, consultancy, and managing your Account and provides many more services to clients in India. We can offer a good service and consultancies to build and give a good One Person Company (OPC).
How to form an OPC?
Easy One Person Company Registration Process
1. Obtain DSC
2. Reserve Your Company Name
3. Submission of MOA & AOA
4. Get Incorporation Certificate
5. Get Company’s PAN & TAN
Benefits of One Person Company (OPC)
Points to make your decision easy
1. No Minimum Capital: –
In a One Person company, there is no limit to keeping minimum capital. A-One Person company can also be registered with a small amount of 10,000 as a total Authorized Share Capital.
2. Separate Legal Entity: –
Now, as a One Person, a company is a separate legal identity in the court of the law, meaning assets and liabilities of the business are not the same for the directors or shareholders. And so, both of them are counted as different.
3. Limited Liability: –
In One Person Company, there are limited liabilities to a shareholder or the owner of that particular company. So, it is negligible as up to the shares subscribed by them.
4. Minimum compliances: –
As a Private Limited Company, One Person Company is also treated the same for Annual filing and other submissions. Also, it has been released from many of that submissions than a private limited company. AGM is not being held every year.
5. Builds Credibility: –
One Person company’s all the detailed information is already made available in a database of the public. This quality makes it so easy to verify the OPC- One Person Company (Business) that alternately helps in changing business Image (reputation).
6. Perpetual succession: –
Perpetual succession keeps on existing even if there is death, failure, the collapse of the debt of any of its members or shareholder. It keeps on pursuing as a legal person until it’s officially been terminated.
Documents Required for One Person Company (OPC) Registration Process
- Quick Requirements
• Photograph of all the Directors and shareholders
• PAN Card of all the Directors and shareholders
• Self-Attested ID Proof of all the Directors (Driving License/Passport/Voter ID)
• Electricity Bill or any other utility bill for the address proof of the Registered Office
- Special Requirements: –
The OPC One-Person Company must have a registered office in India. Any ID- Proof or documents like bank statement or electricity bill should be older, less than two months. Along with that utility bill, rent arrangement or sale deed and a No Objection Letter (NOC) from the owner (landlord) with their understanding to use an office as a company’s registered office must be submitted.
Submissions required by a One Person Company
All you should know about necessary compliances
1. GST Registration: –
Every One Person Company must get registered for GST (Goods & Services Tax Act.) till 30 days of the firm creation. Whenever the firm receives a turnover of more than INR 40 lakhs or INR 20 lakhs in any particular category state, then GST registration is needed. If the goods are being supplied or provided online, GST Registration is compulsory.
2. GST Returns: –
Once a One Person Company gets registered under GST, it becomes necessary to file GST returns for a Private Limited Company. As the filing of GST returns is mandatory for all registered Taxpayers, including companies. GST returns can be filed monthly, quarterly, or yearly, depending upon the types of GST returns form you are filing.
3. Accounting: –
A proper record book of accounts should be managed by every One Person Company, which will result in an accurate and fair view of the company’s state of affairs. As soon as you start your company, accounting is also necessary for various things like statutory audit, Annual filing, and IT return filing. A-One Person Company should appoint an auditor for auditing the book of accounts.
4. Statutory Audit: –
Every One Person Company must have its book audited each financial year under the Companies Act, 2013, irrespective of its sales turnover or nature of business or capital. So, it is compulsory for the boards of directors of One Person Company to appoint an Auditor till the 30 days of incorporation of the company, and then they can conduct the audit of its statements each financial year
5. MAT Audit: –
MAT, i.e., Alternate Minimum Tax, is compulsory for every One Person Company to get their accounts registered under MAT. The main objective behind the introduction of MAT was to bring into the tax net “Zero tax companies” that had earned substantial book profits. Having paid handsome dividends, do not pay any tax due to different tax modifications and encouragement provided under the Income-tax Law.
6. Income Tax Audit: –
Every One Person Company is compulsorily required to get the tax audits under section 44AB done. The Tax audit under section 44AB aims to find out the Submission of various provisions of the Income-tax Law and the implementation of other requirements of the Income-Tax Law. The tax audit restriction under section 44AB is INR 1 Crores. (5 crores where at least 95 percent turnover is transacted/transferred on digital transactions.)
7. ROC Annual filing: –
A One Person Company must file three forms every year. Now filing is done for the Submission of required documents of financial statement, i.e.
Balance sheet, P&L account in form AOC 4, and annual return in form MGT-7. Company reports about accountant’s appointment to ROC in Form ADT 1.
8. IEC Registration: –
In this registration of IEC, it is required for all the One Person Companies to get registered themselves to the Import Export Code. IE code (IEC) has lifetime validity. It never gets expired. Importers are not allowed to import goods without this code, and exporters cannot export the goods. Due to this, they can’t benefit the exports from DGFT, Customs, Export Promotion Council if they don’t get themselves registered or don’t have this code. If they have the Import Export Code (IE code), they can benefit from importing and exporting goods, both of them.
9. TM Registration: –
TM registration i.e. Trademark Registration. So, this was found because only registering a One Person company with just a name does not provide complete protection or assurance to the name or brand name. Trademark Registration of same only secures most Protective registration for a business or One Person company. By trademark registration, you may get the official ownership of your One Person company name, brand name, logo, etc.
Why choose DMG Tax Accounting & Investment?
- 100+ Satisfied Clients
We have All over India 100+ clients. They believe in our quality works & satisfied with our Professional One Person Company Registration Services.
- 1000+ One Person Registrations All Over India
We had done 1000+ One Person Company registrations all over India. A single Registration request was not rejected, which was applied by us.
- Your data is safe
We value your data and follow the highest standards in data security to keep it safe.
- Run by humans, with values
Professional and experienced people run the company to help users with the best advice and experience.
- 20 years of helping users
We have been helping many of our customers to fill for their One Person Company Registration Form. And we have the expertise which is soothing for almost 20 years.
6. Customer Support
The key to good customer service is building good relationships with clients, ensuring a great impression, and providing them with support services related to a One Person Company.
FAQs On OPC Registration
Get answers to all your queries
- Can an NRI Register a One Person Company in India? If Yes, then what are the conditions for the same?
- Ans. This facility is not available for One-Person companies. Only the person who is a citizen of India can only register from anywhere in India.
- Is FDI allowed for OPC in India?
- Ans. No, FDI into a one-person company in India is restricted.
- Who can be the nominee of OPC?
- Ans. Rule 3 of Companies (Incorporation) Rules 2014 provides that:
- Only a natural person; (should not be minor)
- Indian citizen
- Person Resident in India.
- What is the time limit for form filling of INC-6?
- Ans. Form INC-6 shall be filed within 30 days of voluntary conversion and six months of mandatory conversion.
- Can OPC become a member of another private Limited company?
- Ans. Yes, there is no restriction concerning OPC becoming a member of a private limited company.