Introduction to One Person company
According to OPC Company registration in Bangalore the proposal of one person company for the corporate laws that had created a revolutionary proposal which was introduced by the Companies Act 2013. Previously in the past company Act 1956, where there was a minimum of two shareholders and directors were required. At the present, the company can be established with only one person as a director and shareholder. As we see, as soon as you register for One Person Company, the law needs to obey all the mandatory compliance that is required by ROC. So, in this article, we will be discussing Mandatory compliance for OPC.
What is one person company?
Section 2(62) of the Companies Act explains to us a one-person company as the company that has only one person as to its members. Moreover, the members of a company are nothing but contributors to its communication of association, or its shareholders. So, an OPC is productively a company that has only one shareholder as its member.
What is the Annual filing for One Person Company in the form MGT 7?
As per OPC registration service provider in Bangalore the OPC Annual Return Filing must be filed with the Registrar of the Companies
The returns should be filed and completed with the ROC as an extension to Form MGT 7
This kind of annual return has to be signed by the Company Secretary
If there is no Company Secretary available, the director has to be signed the return.
It should be filed by all the OPC registered all over India every year
The Documents that are necessary for MGT 7:
Details of main business activities
List of shares and shareholding
Details of debentures and loans
List of other securities held by the company
The information should be revealed in the Annual filing
The annual return should contain the documents and information that include a register of members, shares, registered office address, a compliance certificate, and debentures details, information about the management of the company, debt details of the company.
The annual return would also reveal the shareholding formation of the Company, changes in details, and directorships of the transfers of securities.
Financial statement of One person Company (AOC4)
According to Opc Registration Consultants in Bangalore the Companies Act 2003, the audited financial Statements and Records are to be filed digitally in Form AOC 4.
The above form should be signed by the Board of Directors.
The above same form must be filed on or before 180 days from 31st March of every financial year with the registrar of the companies.
The financial report and statements should only surround the Profit and Loss Account, notes to the accounts, Balance Sheet, and Audit report.
A Junior Chartered Accountant must be specified as the auditor of the company on or before 30 days of the federation as the first auditor of the company.
Appointment of Auditor (Form ADT-1)
If you need the Appointment of an Auditor, the One Person Company should carry out the required documents to file Form ADT-1 on or before 15 days of the closure of the first AGM.
In the Primary AGM of the company, a company can designate the auditor who can hold office till the closure of the 6th AGM.
There is no necessary to file from ADT 1 for the arrangement of the First Auditor who can hold office till the closure of the first Annual General Meeting.
Nevertheless, when the Subsequent Auditor is designated, the One Person Company is required to file Form ADT-1.
How to Apply for OPC REGISTRATION in Bangalore?
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