Company Law - What is One Person Company (OPC)? Pursuant to Section 2(62) of Companies Act, 2013, One Person Company means a company which has only one person as a member. Provisions involved: – Section 18 and 122 of Companies Act, 2013 – Rule 6 & 7 of Companies (Incorporation) Rules, 2014 To convert an OPC into a […]...
Read MoreCompany Law - 1. Features of Private Limited Company 1. For Businesses Raising Funding Fast-growing businesses that will require funding from venture capitalists (VCs) need to register as private limited companies. This is because only private limited companies can make them shareholders and offer them a board of directors. LLPs would require investors...
Read MoreCompany Law - An OPC by its very nature is a Private Company. This is established by the definition of Private Company-Section 2(68) of Companies Act, 2013 and Section 3- Formation of a Company-...
Read MoreCompany Law - A company that has only one person as its member is said to be a One Person Company. Compared to other forms of companies i.e. Private Limited Company or even Limited Liability Partnership, OPC (One Person Company) has lesser compliance requirements. Nonetheless, it is crucial to look in to the Important Statutory Due dates for […]...
Read MoreCompany Law - Conversion of Private Company into OPC A private company other than a company registered under Section 8 companies Act 2013, who having a share capital of 50 lakhs rupees or those having an average annual turnover in past 3 consecutive years is up to 2 crore rupees during the relevant period, may convert into one […]...
Read MoreCompany Law - During the current year (from 01.01.2021 to 10.12.2021) total 9781 number of One Person Companies (OPCs) were registered under the provisions of the Companies Act, 2013...
Read MoreCompany 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....
Read MoreCompany 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. ...
Read MoreCompany 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....
Read MoreNotification 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 MoreNotification 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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