OPC

Conversion of One Person Company into Private Company- Provisions

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 […]...

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LLP Vs One Person Company Vs Private Limited Company

Company 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...

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All about One Person Company – Incorporation [OPC- Part- 2]

Company 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-...

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Important Statutory Due dates for OPC Annual Filing for FY 2021-22

Company 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 […]...

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Conversion of Private Company into OPC

Company 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 […]...

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9781 OPC registered between 01.01.2021 to 10.12.2021

Company 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...

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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"

Conversion of One Person Company into Private Company- Provisions

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 More
Posted Under: Company Law |

Note on One-Person Company (OPC)

Note on One-Person Company (OPC) Highlights Basic Concept of OPC, Objectives of One-Person Company (OPC), Preliminary conditions & Eligibility for Incorporation of OPC, Mandatory Annual Compliances of OPC, Benefits cum Exemptions for OPC, Hindrances for the OPC and Comparative Analysis of OPC with Sole Proprietorship, LLP & Priva...

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Posted Under: Company Law

LLP Vs One Person Company Vs Private Limited Company

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 More
Posted Under: Company Law |

All about One Person Company – Incorporation [OPC- Part- 2]

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 More
Posted Under: Company Law |

Important Statutory Due dates for OPC Annual Filing for FY 2021-22

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 More
Posted Under: Company Law |

9781 OPC registered between 01.01.2021 to 10.12.2021

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 More
Posted Under: Company Law |

Conversion of Private Company into OPC

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 More
Posted Under: Company Law |

One Person Company (OPC) – Incorporation Process and other Significant Aspects

The Companies Act, 2013, introduced the concept of One Person Company (OPC) in India. Further, this was to support entrepreneurs desiring to start a business on their own. While a Private Limited Company or Limited Liability Partnership requires at least two members for incorporation, you can start an OPC with a single member. OPC or [&he...

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Posted Under: Company Law |

One Person Company (OPC) And Various Provisions Related to it

An individual forming the One Person Company (OPC) can be a resident of India or a non-resident. OPC is incorporated in a form of a company but have the benefits of a sole proprietorship. It has very less compliances, legal status, easy ways to get funds, easy incorporation, perpetual succession and many other benefits....

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Posted Under: Company Law |

An Emerging Concept- One Person Company (OPC)

One Person Company (OPC), a new concept which is popular now, introduced by the Companies Act, 2013. Before the enforcement of the Companies Act, 2013, a single person could not establish a Company, if an individual want to establish any business, he/she could only opt for Sole Proprietorship as at that time there had to […]...

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Posted Under: Company Law |

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