OPC Annual Compliance: Simplify Your Legal Obligations

A One Person Company (OPC) is a business structure with a single owner/shareholder, governed by Section 2(62) of the Companies Act, 2013. Despite its simplicity, OPCs must fulfill annual compliance requirements identical to private limited companies. Key obligations include financial reporting, AGM conduct, and statutory filings. Non-compliance risks:

Heavy penalties (₹100–1,000/day)
Director disqualification
Striking off the company register *We manage end-to-end OPC compliance with 100% deadline adherence.*

5 Pillars of OPC Compliance

Form AOC-4: Audited financial statements (due Sept 27)
Form MGT-7: Annual return (within 60 days of AGM)
Form DPT-3: Deposit details (due June 30)
Form DIR-3 KYC: Director verification (due Sept 30)
Income Tax Return: ITR-5/6 (due July 31/Sep 30) All filings submitted to MCA/Income Tax Department.

Director & Meeting Requirements

Board Meetings:
- Minimum 1 meeting per half-year (gap ≥90 days)
- Exemption from quorum rules for single-director OPCs
Annual General Meeting (AGM):
- Mandatory within 6 months of financial year-end
- Single-member attendance suffices
Director Disclosures:
- File Form MBP-1 (interest in other entities)
Auditor Appointment:
- No rotation required; permanent until resignation

Statements, Audit & Registers

Financial Statements:
- Balance sheet, P&L, cash flow statements
- Must be audited by a CA (no turnover threshold)
Statutory Registers:
- Maintain: Member register, director records, meeting minutes
- Preservation: 8 years minimum
Director’s Report:
- Disclose contracts, CSR (if applicable), auditor details

Income Tax & GST Obligations

Filing	Threshold	Deadline
ITR-5/6	All OPCs	July 31*
Tax Audit	Turnover >₹1 crore	September 30
GST Returns	Mandatory if registered	20th next month
TDS Returns	On applicable payments	Quarterly
*Sep 30 if audit-bound

Cost of Non-Compliance

Form AOC-4/MGT-7: ₹100/day delay (max ₹10 lakh)
Form DIR-3 KYC: ₹5,000 one-time penalty
AGM Skip: ₹1,000/day until compliance
Tax Late Fees:
- 1% monthly interest on unpaid tax
- ₹200/day GST late fee
Criminal Liability:
- False financials → 6 months imprisonment

Preparation Essentials

Bank statements (Apr–Mar)
Purchase/sale invoices
GST returns (if applicable)
TDS challans/returns
Auditor-signed financials
Board meeting minutes
Director interest disclosures (MBP-1)
Shareholder details

Stress-Free Compliance Management

We ensure seamless compliance through: 🔹 Deadline Tracking: Automated alerts for 20+ due dates 🔹 Expert Teams:

CAs for audit/accounts
CS for company law filings
Tax specialists for GST/ITR 🔹 Digital Platform: Real-time document access portal 🔹 Comprehensive Coverage:
Financial statement prep
AGM minutes drafting
MCA/income tax filings
GST/TDS compliance

OPC Compliance Clarified

Q1: Can an OPC skip AGM with one member? No – AGM mandatory (single-member attendance suffices). Q2: Is tax audit compulsory for loss-making OPC? Yes – No turnover exemption for OPC audits. Q3: Can OPC directors use digital signatures? Yes – Class 3 DSC required for filings. Q4: What if turnover exceeds ₹2 crore? GST audit + annual return filing mandatory.

Lock Compliance, Focus on Business Growth!

Avoid penalties and operational disruptions. Lawyers Legal Services guarantees:

48-hour document turnaround
Dedicated compliance manager
Money-back guarantee* on missed deadlines

📞 Helpline: +91 98765 43210 📧 Email: contact@yourlegalfirm.com 🖱️ OPC Portal: Access Compliance Dashboard "From Filings to Peace of Mind: We Shield Your OPC’s Legal Legacy!"

Annual Compliance for One Person Company (OPC)

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