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Worried about income tax? We can help!
One Person Company provides an individual the liberty to enjoy the benefits of being a company with limited liability. The individual can take decisions without having to worry about losing their personal assets and due to this very reason, many start-ups and young entrepreneurs register as an OPC. Now that you know, what an OPC is all about, buy this plan now and get the all the details sorted.
Prices may differ according to your capital during the incorporation. The applicable price shall be informed to you by our tax expert during consultancy.
One Person Company is a new form of business entity. A private limited company requires minimum of two directors and two shareholders. The directors and the shareholders can be same individuals. One Person Company does not require two persons as director. It allows a single entrepreneur to get his business registered as a company and enjoy limited liability protection.
One Person Company can be started with a minimum authorised capital of Rs. 1 lakh. There is no mandatory requirement for minimum capital with which an OPC should be started. Hence, you can start as an OPC with a capital contribution as low as Rs.10.
OPC is a Private Limited Company for all the legal purposes with only one member.
In case the paid up share capital of an OPC exceeds fifty lakh rupees or its average annual turnover of immediately preceding three consecutive financial years exceeds two crore rupees, then the OPC has to mandatorily convert itself into private or public company.
A person who is a resident in India and is also an Indian Citizen, is living in India for a period of 182 days is eligible to become a member and nominee of an OPC. A person can be a member of only one OPC. If you are the member of more than one OPC, then you will have to withdraw the membership from one of the OPCs and carry on with only one.
There is no specific tax advantage to an OPC over any other form. The tax rate is flat 30%, other tax provisions like MAT & Dividend Distribution Tax applies as they apply to any other form of company.
The basic mandatory compliance are:
The Ministry of Corporate Affairs (MCA) has made the new OPC registration a completely online process. All the document flow happens in electronic form and there is no need of any physical presence.
Yes, Stamp duty charges are imposed by the state in which the registered office is proposed to be located. The charges are on MOA, AOA & form INC 32. These charges are covered under the plan for all the states except Punjab , Kerala & Madhya Pradesh. Our experts will guide you on additional charges if any for Punjab , Kerala & Madhya Pradesh.
To bring in additional director, you need to secure DIN & digital signatures (DSC). Filing of form with ROC is also a requirement for appointment of director.
Click here to purchase digital signature
If the individual is residing outside India at the time of the application, then he or she needs to get the PAN, Aadhaar, current address (in the country of residence), permanent address attested by Indian embassy in that country. Any incidental charges here is not covered in the package.
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