OPC

OPC Annual Filing– Important Statutory due dates for FY 2020-21

Company Law - One Person Company is a company that has only one person as its member. Being just one member company, the OPC has lesser compliance requirement compared to Private Limited Company or Limited Liability Partnership. However, It is important to look in to the Important Statutory due dates for OPC Annual Filing due dates falling in […...

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Incorporation of One Person Company (OPC)

Company Law - Meaning of OPC: As Per Section 2 (62) of the Companies Act, 2013 “One Person Company” means a company which has only one person as member. OPC is basically a Private Company. Only natural person who is Indian Citizen can incorporate OPC. Only one person is needed to incorporate OPC and such person shall be […]...

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Commentary on One Person Company Definition

Company Law - Clause (62) of section 2 of the Companies Act, 2013 – Definition of One Person Company One Person Company means a company which has only one person as a member. Under Companies Act, 1956 there was no concept of One Person Company (OPC) but Companies Act, 2013 introduced the concept of OPC and this OPC […]...

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Incorporation of One Person Companies in India

Company Law - The One Person Company (commonly known as OPC) is the type of entity which is owned by a single person. It allows a sole person to own and also manage the entire business operations. The OPC as a business structure is introduced in India through Companies Act, 2013 to administer the proprietorship businesses and promote […]...

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NRI allowed to incorporate OPC in India w.e.f. 01.04.2021

Company Law - By making the amendment in sub rule (1) of Rule 3 for words, and resident in India, following words substituted whether resident in India or otherwise. By this amendment, now Non-Resident Indians (‘NRIs’) is also allowed to incorporate OPCs in India....

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Extend timelines for Annual filing of OPC due to Covid 19: ICSI

Company Law - It is requested extend the timelines for annual filing of OPCs upto 31st December, 2020. This will ease the difficulties faced by the OPCs in the time of crisis....

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Allow remuneration paid by OPC to member: ICAI Suggests

Company Law - The Finance Act, 2016 introduced a tax rate of 29% of total income to (domestic) company assessees provided its total turnover or the gross receipts in the previous year 2014-15 does not exceed five crore rupees. ...

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ICSI releases Ready Reckoner on One Person Company (OPC)

Company Law - One person company is a concept introduced in India by the Companies Act, 2013. The concept opens up new vistas of business opportunities and particularly spectacular possibilities for sole proprietorships and entrepreneurs who can enjoy the advantages of limited liability, and the benefit of separate legal entity as well....

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MCA mandates new Form & MGT-7 & MGT 7A for OPC & small companies

Notification No. G.S.R. 159(E). - (05/03/2021) - (1) These rules may be called the Companies (Management and Administration) Amendment Rules, 2021. (2)  They shall come into force on the date of their publication in the Official Gazette....

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MCA amends One Person Companies (OPCs) rules

Notification No. G.S.R. 91(E) - (01/02/2021) - MCA amends One Person Companies (OPCs) rules vide Companies (Incorporation) Second Amendment Rules, 2021 MCA amends rules 6 related to One Person Company to Convert Itself into a Public Company or a Private Company in Certain Cases and Rule 7 related to Conversion of private company into One Person ...

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Recent Posts in "OPC"

OPC Annual Filing– Important Statutory due dates for FY 2020-21

01/01/1970

One Person Company is a company that has only one person as its member. Being just one member company, the OPC has lesser compliance requirement compared to Private Limited Company or Limited Liability Partnership. However, It is important to look in to the Important Statutory due dates for OPC Annual Filing due dates falling in […...

Read More
Posted Under: Company Law |

Incorporation of One Person Company (OPC)

01/01/1970

Meaning of OPC: As Per Section 2 (62) of the Companies Act, 2013 “One Person Company” means a company which has only one person as member. OPC is basically a Private Company. Only natural person who is Indian Citizen can incorporate OPC. Only one person is needed to incorporate OPC and such person shall be […]...

Read More
Posted Under: Company Law |

Commentary on One Person Company Definition

01/01/1970

Clause (62) of section 2 of the Companies Act, 2013 – Definition of One Person Company One Person Company means a company which has only one person as a member. Under Companies Act, 1956 there was no concept of One Person Company (OPC) but Companies Act, 2013 introduced the concept of OPC and this OPC […]...

Read More
Posted Under: Company Law |

Incorporation of One Person Companies in India

01/01/1970

The One Person Company (commonly known as OPC) is the type of entity which is owned by a single person. It allows a sole person to own and also manage the entire business operations. The OPC as a business structure is introduced in India through Companies Act, 2013 to administer the proprietorship businesses and promote […]...

Read More
Posted Under: Company Law |

NRI allowed to incorporate OPC in India w.e.f. 01.04.2021

01/01/1970

By making the amendment in sub rule (1) of Rule 3 for words, and resident in India, following words substituted whether resident in India or otherwise. By this amendment, now Non-Resident Indians (‘NRIs’) is also allowed to incorporate OPCs in India....

Read More
Posted Under: Company Law |

Form MGT-7A For Small Companies & One Person Companies

01/01/1970

Recently the ministry of corporate affairs has notified a separate form for small companies and one person companies (OPC) under section 92 read with sub rule (1) rule 11 of the companies management and administration rules. This move is aimed at reducing the compliance burden on the small companies and OPC’s and rectify some practical ...

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Posted Under: Company Law |

Abridged Annual Return in Form MGT-7A for OPCs & Small Companies

01/01/1970

Recently, two notifications have been issued by Ministry of Corporate Affairs (MCA) on 5th March, 2021. First Notification is with regard to notify the date of applicability of amendment in Section 92 of Companies Act, 2013 (CA, 2013) which deals with Annual Return of the Company and was made by Companies (Amendment) Act, 2017  but [&hel...

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Posted Under: Company Law |

MCA mandates new Form & MGT-7 & MGT 7A for OPC & small companies

Notification No. G.S.R. 159(E). 05/03/2021

(1) These rules may be called the Companies (Management and Administration) Amendment Rules, 2021. (2)  They shall come into force on the date of their publication in the Official Gazette....

Read More

Conversion of OPC Into Private Limited or Public Limited Company

01/01/1970

Conversion of One Person Company (OPC) Into Private Limited or Public Limited Company Introduction: One Person Company (OPC) means a company, which has only one person as a member. OPC can be converted into Private / public limited Company either by voluntarily or compulsory. Compulsory Conversion: Under below mentioned scenario, it is co...

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Posted Under: Company Law |

Annual Compliances And One Person Company

01/01/1970

Annual Compliances: All companies are required to file annual financial statements and annual returns to ROC, no one is relaxed from the annual compliances, even a One Person Company is required to comply with it. Apart from filing of financial statements and annual return, OPC companies also need to comply with several other provisions, ...

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Posted Under: Company Law |

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