Annual Compliances For OPC

What Is Annual Compliance For One Person Company?

One Person Company is required to maintain compliance as per Income Tax Act and Companies Act. It mainly includes filing of income tax return and annual return. It is easy and cost efficient in terms of compliance to register as an OPC as compared to public or private.

Why We Need To Do Annual Compliance Of OPC?

As every OPC have to intimate ROC regarding the income and expenditure and other details of the company annually. we have to do the compliances and if we fail to do the compliance then the penalty is imposed for the same.

What are the forms required to be filed for Annual Compliances?
Form AOC-4 for Financial statement and form MGT-7 for annual return are required to be filed for Annual return.

What are the Due date to file forms?
The financial statement of OPC are to be filed within 180 days from 31st March of the financial year and annual return within 60 days from the completion of AGM.

Documents Required For Annual Compliances For OPC

  • Invoices of Purchases and Sales during the year
  • Invoices of expenses incurred during the year
  • Credit Card Statements if Expenses are incurred by Director on behalf on Company
  • Bank Statements from 1 April to 31 March for all bank accounts in the name of Company
  • Copy of GST returns filed (If Any)
  • Copy of TDS Challans Deposited (If Any)
  • Copy of TDS Returns filed (If Any)

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Annual Compliances For OPC
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