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.
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.
Finalization of Balance Sheet and Income Tax return
Preparation of Notice, Board Resolution and Minutes of AGM