Company Law : One Person Companies (OPCs) need to record annual returns to remain compliant with legal requirements. However, many business owne...
Company Law : Starting a business in India requires choosing the right business structure. One Person Company (OPC) registration is a popular op...
Company Law : As per the first proviso to section 3(1) of the Companies Act 2013, at the time of incorporation of OPC, the sole member of OPC is...
Company Law : Learn the step-by-step process for converting a Private Limited Company into a One Person Company (OPC) as per the Companies Act, ...
Company Law : Learn how to convert an OPC into a public limited company with our comprehensive guide, including steps, approvals, and documentat...
Company Law : Learn the step-by-step procedures and find answers to frequently asked questions about incorporating and converting a One Person C...
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...
Company Law : It is requested extend the timelines for annual filing of OPCs upto 31st December, 2020. This will ease the difficulties faced by ...
Income Tax : The Finance Act, 2016 introduced a tax rate of 29% of total income to (domestic) company assessees provided its total turnover or...
Company Law : One person company is a concept introduced in India by the Companies Act, 2013. The concept opens up new vistas of business opport...
Company Law : (1) These rules may be called the Companies (Management and Administration) Amendment Rules, 2021. (2) They shall come into forc...
Company Law : MCA amends One Person Companies (OPCs) rules vide Companies (Incorporation) Second Amendment Rules, 2021 MCA amends rules 6 relate...
The One Person Company (OPC) is a newly incorporated type of company that was introduced in the Companies Act, 2013 to support entrepreneurs who on their own are capable of starting a venture by allowing them to create a single person economic entity. There can be only one, natural person resident of India who can […]
One Person Company (OPC) is a company which has only one person as member. OPC is a type of private company. Only a natural person, who is an Indian citizen and resident in India, shall be eligible to incorporate an OPC & shall be a nominee for the sole member of an OPC. An OPC […]
Article contains Definition of One Person Company (OPC), No. of Persons Required for formation of OPC, Mandatory Conditions for formation of One Person Company (OPC), Nominee for OPC, Change of Nominee, Management, Financial Statement of OPC, Meetings, Matters to be included in Board’s Report for One Person Company, Turnover/Capital threshold for conversion of OPC into […]
With lot of amendments come day by day in the Companies Act & Rules, an attempt has been made from my side to share my knowledge regarding Board’s Report for One Person Companies (OPC) and Small Companies under the Companies Act, 2013 in the form of an Article. This Article contains the introduction, clarification, amended provisions and format and other important points included in Board’s Report for OPC and Small Companies under Companies Act, 2013.
Introduction The concept of One Person Company in India was introduced through the Companies Act, 2013 to support entrepreneurs to start a venture on their own by allowing them to create a single person economic entity. In a One Person Company there can be only one member while a minimum of two members are required […]
While starting your own business, the very first question that comes to mind is that, How to form a company? For starting a business in single person’s name, a sole proprietorship registration can be done but if one wants central registration with separate legal entity and benefits of company form of organization
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.
The concept of One Person Company [OPC] is a new vehicle/form of business, introduced by The Companies Act, 2013 [No.18 of 2013], thereby enabling Entrepreneur(s) carrying on the business in the Sole-Proprietor form of business to enter into a Corporate Framework. One Person Company is a hybrid of Sole-Proprietor and Company form of business, and has been provided with concessional/relaxed requirements under the Act
MCA has introduced the Concept of One Person Company so that the Proprietorship business can also get the Corporate Frame work with minimum compliances in a Year. It is still in its nascent stages and will require more time to be fully accepted by the business world.
An attempt has been made from my side to share my knowledge and experience regarding Incorporation of a One Person Company under Companies Act, 2013 in the form of an Article.
