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One Person Company Registration

One person company(OPC) gives a single person or promoter with full control over the company while limiting his/her liabilities to the business. The single person will be the only director and shareholder. One person Company must be turned into private or public limited company if an OPC hits an average 3-year turnover of over Rs.2 crore or paid-up capital of over 50 lakh. Furthermore, there is no need for raising equity funding or employee stock options.

Compliances for One Person Company

Income Tax & Annual Return

Annual return or Income tax return filing must be completed by One person Company before 30th September of each financial year.

GST filing

OPC (One Person Company) must file GST returns on Quarterly and Annual basis.

ESI return

One Person Company having ESI registration must file ESI returns. One person company with 10 employees are eligible for ESI registration.

TDS Filing

One Person Company having TAN are required to file Quarterly TDS returns and are required to deduct tax at source as per TDS rules.

Service Tax or VAT

Service tax returns are due half-yearly while VAT return due date changes from state to state.

Advantages

Limited Liability

One person Company is limited to the liabilities and contributions to the business whereas in Private limited company all the shareholders are liable to contribution to the business.

Continued Existence

For OPC, after the demise of the single promoter , it can be transferred to the nominee . In case of sole proprietorships come to end after demise of sole proprietor.

Greater Credibility

Greater Credility among vendors and lending institution as OPC file audits annualy.

SERVICE TAX STATUTORY OBLIGATIONS

For all those who have a liability to register themselves, if fails to do the same than under section 75A of the finance act 1994 penalty for the failure of an assessed to get himself registered was fixed at Rs. 500/- as a onetime payment but subsequently this section was deleted by the virtue of the finance act 2004 and now the general penalty that is applicable is Rs. 1000/- as per section 77 of Finance act.

Documents required

  • 1

    Documents for Company

    • PAN
    • Rental Agreement
    • Bank Statement
    • EB receipt
    • Resolution Copy in case of Company
  • 2

    Documents for Owners

    • PAN
    • Voter ID / Passport/ Driving License / Aadhar Number
    • Photo – 2 Nos
    • ATTESTATION
    • Documents to be attested
  • 3

    REGISTRATION

    • ST-2 will be issued by the department.

Business Plan

Basic

Rs.12,499/-

  • Two DIN
  • Two DSC
  • Name Approval
  • Company Incorpration
  • PAN/TAN

Standard

Rs.13,799/-

    • Two DIN
    • Two DSC
    • Name Approval
    • Company Incorpration with
    • PAN / TAN
    • GST Registration

Advanced

Rs.16,299/-

  • Two DIN
  • Two DSC
  • Name Approval
  • Company Incorpration with
  • PAN / TAN
  • GST Registration, IEC Registration

HOW LONG DOES IT TAKES?

1 DAY

Collection of Documents

1 DAY

Preparation of Application

1 DAY

Submission of Application

1 DAY

Certificate of PVT. Limited Registration

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