OPC is required to hold an annual general meeting, and annual accounts with ROC is required. Companies Act 2013 mandates that your financial year should start from 1st April and end on 31st March. As far as the OPC Annual Filings (OPC Annual Compliances) are concerned, these are just fewer as compared to those required by a private or public limited company.
Profit & Loss Account,
OPC Compliance Certificate,
Registered Office Address,
Register of Member,
Shares and Debentures details,
Information about the Management of the Company.
AOC 4 and MGT 7 are required to be filed every year. AOC 4 must be filed within 180 days from the close of financial year, while MGT7 should be filed within 6 months from the close of financial year.
An OPC is required to conduct a minimum of 2 board meetings and one annual general meeting. However, to conduct AGM is not mandatory for OPC. EbizFiling helps you take care of above seamlessly.
Non-filing of Annual returns for One Person Company entail hefty penalties. These are over and above normal fees charged by MCA and there is no way to reduce the penalties.
Annual Filings for Company having Authorized Capital of Rs 5 Lakhs, turnover upto Rs. 50 Lakhs and upto 100 accounting transactions
One Year Income Tax filing upto turnover of Rs. 50 Lakhs
The annual return would also disclose the shareholding structure of the Company, changes in Directorship and details of transfers of securities.
ROC Form MGT 7: which contains details of shareholding structure, change in directorship and details of the transfer of shares during the year if any. Due date for ROC Form MGT 7 would be 28th November. As One Person Company does not require to hold AGM, yet the due date for filing Form MGT 7 shall be 60 days from the completion of the 6 months from the end of financial year.
ROC Form AOC4: which contains details and annexure relating to Balance Sheet of the Company, Profit & Loss Account, Compliance Certificate, Registered Office Address, Register of Member, Shares and Debentures details, Debt details and information about the Management of the Company. The due date for ROC Form AOC 4 would be 180 days from the close of financial year. That means the due date for AOC 4 for OPC shall be 27th September. (If we count 180 days from 1st April).
ROC Form ADT 1: is filed for auditor appointment. The due date for ROC Form ADT 1 would be 14th October i.e within 15 days from the conclusion of AGM.