Company Law : Understand the requirements of Annual General Meeting (AGM) for One Person Companies (OPCs) in India under the Companies Act, 2013...
Company Law : Discover the benefits of OPC registration in India and learn the step-by-step process. Limited liability, perpetual existence, and...
Company Law : A sole proprietorship can be defined as a business run by a single person. A One-Person Company (OPC) can be described as a busine...
Company Law : Explore the distinctions between sole proprietorship and One Person Company (OPC) under the Companies Act, 2013. Learn about regis...
Company Law : Discover the legal provisions and procedural intricacies of converting a Private Limited Company into a One Person Company (OPC) i...
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...
Ministry of Corporate Affairs has issued a Notification on March 05, 2021 as Companies (Management and Administration) Amendment Rules, 2021, Chapter VII of the Companies Act, 2013. These rules came into effect from March 05, 2021. Amendment in Rule 11 i.e. “Annual Return”: in rule 11 sub rule 1 has been substituted: Old Rule: Every […]
One person company is a recently introduced concept in India though it is already a successful and popular form of business in UK, USA, China, Singapore, Turkey, UAE etc. In India, one person company is a strong improvement over sole proprietorship. As per section 2(62) of the Companies Act,2013, “One person company” means a company […]
The Companies Act, 2013 completely revolutionized corporate laws in India by introducing several new concepts that did not exist previously. One such game-changer was the introduction of the One Person Company concept. This led to the recognition of a completely new way of starting businesses that accorded flexibility which a company form of entity can […]
Brief of Compliances Applicable To OPC And Small Companies Along With Newly Introduced MGT-7A : Abridged Annual Return DEFINITION OF ONE PERSON COMPANY: As defined in Section 2(62) of Companies Act,2013 ‘One Person Company’ means a company which has only one person as a member; List of Compliance Applicable to One Person Company (OPC): Section […]
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 […]
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 […]
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 […]
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.
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 […]
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 […]
