Annual Compliance’s for OPC Company in India

Once you have registered your company, you are going to run a business freely. However, you still have to file annual returns to the MCA in order to legitimate in the eyes of law. These annual returns or annual compliance’s for OPC company are needed to be filed on an annual, biannual, half-yearly and quarterly basis.  

There are two types of private limited company compliance’s:Annual Compliance for One Person Company

1. Event-based compliance’s: These are compliance that are filed on certain MCA notifications.

The annual compliance of a company contains the following matters:

1. ROC filing
2. Finance statement submission
3. Profit and loss statements
4. Income tax returns
5. Annual returns.
6. Minutes of meeting

These are legal matters that can be attended to best through the aid of business experts. Therefore, compliance for a OPC company should only be filed by these experts. This is where we step in.

We are Startup Guruz, India’s leading team of business registration and business compliance experts. We provide the best Annual compliance services for private limited company in India. Just contact our experts, give us your details and leave the rest to us.

OPC Annual Filing Documents

The documents required for the annual compliance are as follows:

1. The Pan card of the directors of the company.
2. The identity proof of the directors of the company.
3. The memorandum of association
4. The articles of Association.

What are the Compliances your company is Liable to fulfill?

Here is the list of compliance requirement which every form of company is required to fulfil l-

Self-Compliances

• It should also assure that every letterhead and invoice of the company contain the full name of the company along with the registered address of the company, telphone number, corporate identity number and E-mail ID.Name shall be printed in Header and CIN No, Add of registered office and Email id of the company in Footer.
• The official website of every company shall contain the following information about the company on its landing or home page.
  • Name of the company
  • Address of its registered office
  • Corporate Identity Number
  • E-mail Address and
  • Name of the person who may be contacted in case of any queries or grievances.

One time Compliance to start the Annual Process

• Obtaining stationery Minutes binders
• Appointment of First Auditor.
• Preparing and printing Share certificates
• Preparing the statutory registers in E Form

Quarterly Compliances (After Every 90 Days)

• Holding the Board Meeting
• Drafting the notice of BM,
• Preparing minutes thereof
• Preparation of attendance sheets of the board meeting

Annual Compliances

• Preparing the directors’ disclosures of interest in other concerns
• Preparing the declarations from the directors;
• Drafting of Board’s report
• Drafting of Annual return;
• Obtaining the financials from Auditor;
• Email ID of all the proposed directors:
• Drafting the minutes for the pre AGM board meeting.
• Drafting of Director Report, Annual return and financials.
• Auditor’s reappointment Document has to be prepared;
• Preparation of Fresh Appointment letters to Auditors if any;
• Preparation of Annual General Meeting Minutes and related documents;
• Preparation and filing of balance sheet; P&L and Auditors appointment, with the RoC;
• Filling of AOC 4 , ADT 1 , MGT 7 with their respective attachments.
• Statutory Auditing of the Company/LLP upto 300 transaction or 10 Lakhs turnover whichever is earlier.
• Accouting Entries will be done by our team upto 300 entries and more than that will be charged at Rupee 1 per entry.
• Filling of form “ITR 6” for Income Tax Return with the department with Digital Signature.

Income Tax Return Filing

• Calculation and Quarterly Payment of Advance Tax
• Filing of Income Tax Returns
• Tax Audit – Mandatory in case sales, turnover or gross receipts of a business exceed Rs. One Crore in the previous year relevant to the assessment year.
• Filing of Tax Audit Report

Maintaining Statuary Registers and Records

It is mandatory for every company to maintain various statutory registers and records as required by the Company law. Below-mentioned are some of the registers and records which are required to be maintained-

• Register of shares
• Register of Members
• Register of Directors etc.
• Incorporation documents of the company
• Resolutions of the meetings of the Board of Directors
• Minutes of the Board Meetings and Annual General Meeting etc