Question 1

What is a One Person Company (OPC) and who is eligible to form one?

Accepted Answer

An OPC is a specialized corporate structure introduced under Section 2(62) of the Companies Act, 2013, allowing a single solo entrepreneur to enjoy 100% ownership with complete corporate limited liability protection. Any natural person who is an Indian citizen (resident or non-resident) can incorporate an OPC.

Question 2

Why is appointing a Nominee Director mandatory in an OPC?

Accepted Answer

Under Section 3(1)(c), the sole member of an OPC must nominate an individual (Nominee) who will take over the management and ownership of the company in the event of the sole subscriber's death or permanent incapacity. The nominee's written consent is submitted in Form INC-3. TaxQue drafts the nominee documentation for you.

Question 3

What are the key advantages of an OPC over a Sole Proprietorship?

Accepted Answer

An OPC is a distinct legal entity with separate legal identity, limited liability (protecting personal family assets from business debts), continuous perpetual succession, and the ability to sign commercial contracts and own property in its corporate name.

Question 4

Are there any turnover or capital restrictions on an OPC?

Accepted Answer

No. Under the amended MCA rules, the earlier restrictions (compulsory conversion upon crossing ₹2 Crore turnover or ₹50 Lakhs capital) have been completely abolished. An OPC can now operate with unlimited revenue and capital without mandatory conversion.

Question 5

How long does it take to register an OPC with TaxQue?

Accepted Answer

The process takes 5 to 7 working days, covering Class 3 DSC procurement for the sole member, Name Approval (SPICe+ Part A), nominee consent filing (INC-3), electronic MOA/AOA drafting, and Certificate of Incorporation issuance with PAN, TAN, and DIN.

Question 6

Who will manage our OPC registration at TaxQue?

Accepted Answer

Your OPC incorporation is handled by an experienced Company Secretary and Corporate Legal Associate. We ensure the MOA object clauses and nominee declarations comply 100% with Companies Act provisions.

Question 7

Can an NRI (Non-Resident Indian) incorporate an OPC in India?

Accepted Answer

Yes. Under recent MCA amendments, NRIs and overseas Indian citizens are legally permitted to incorporate an OPC in India. The mandatory 182-day physical stay requirement has been reduced to 120 days.

Question 8

Can one person incorporate multiple OPCs in India?

Accepted Answer

No. Under Rule 3(2) of Companies (Incorporation) Rules, a natural person can be a member/shareholder in ONLY ONE One Person Company at any given point in time, and can act as a nominee in only one OPC.

Question 9

Can an OPC be converted into a regular Private Limited Company later?

Accepted Answer

Yes. An OPC can convert into a multi-shareholder Private Limited Company at any time voluntarily by passing a special resolution, increasing members to 2 and directors to 2, altering MOA/AOA, and filing Form INC-6 with ROC. TaxQue manages seamless OPC conversions.

Question 10

What documents are required from the founder and nominee?

Accepted Answer

Both the founder and the nominee must provide: Self-attested PAN Card, Identity Proof (Passport, Voter ID, or DL), latest Bank Statement or Utility Bill (< 2 months old), and passport-size photographs. Registered office address proof with landlord NOC is also required.

Question 11

Can an OPC be registered from a residential home address?

Accepted Answer

Yes. You can use your rented or owned home address as the registered office by providing the latest electricity bill, a rent agreement, and a signed NOC from the property owner.

Question 12

What are the annual compliance exemptions enjoyed by an OPC?

Accepted Answer

An OPC is exempt from holding Annual General Meetings (AGMs), exempt from preparing Cash Flow Statements in financial accounts, and needs to hold only 2 board meetings per year (one in each half of the calendar year with a minimum 90-day gap).

Question 13

What ongoing annual compliances are mandatory for an OPC?

Accepted Answer

An OPC must appoint a statutory auditor (Form ADT-1), get its accounts audited annually by a practicing CA, file annual financial statements (Form AOC-4 OPC within 180 days), file annual return (Form MGT-7A), complete Director KYC (DIR-3 KYC), and file income tax return (ITR-6). TaxQue provides all-in-one OPC Annual Compliance packages.

Question 14

Can an OPC engage in Non-Banking Financial Investment (NBFC) activities?

Accepted Answer

No. Under Rule 3(5), an OPC cannot carry out non-banking financial investment activities, including investment in securities of any body corporate, nor can it convert into a Section 8 charitable company.

Question 15

What is the fee for OPC Registration with TaxQue?

Accepted Answer

We offer transparent fixed pricing covering Name Approval, 1 Class 3 DSC, customized MOA/AOA, Nominee filing (INC-3), Certificate of Incorporation, PAN/TAN, DIN, and stamp duties, with zero hidden charges.

Question 16

How do we receive our official OPC Incorporation Certificate?

Accepted Answer

Upon approval by the Registrar of Companies (ROC), an official Certificate of Incorporation containing the Corporate Identification Number (CIN) is issued digitally along with company PAN and TAN cards.

Feature & Deliverable Matrix	Basic	Standard★ Most Popular	Premium
Name Availability Verification & Portal Reservation Assistance	✓	✓	✓
Drafting of MOA, AOA / Deed & Statutory Declarations	✓	✓	✓
Official Government Portal Filing & Document Submission	✓	✓	✓
Certificate of Incorporation / Registration Delivery	✓	✓	✓
Entity PAN & TAN Allocation Coordination	✓	✓	✓
Assigned Company Secretary (CS) & Corporate Legal Advisor	—	✓	✓
Class-3 Digital Signature Certificates (DSC) & Director DINs	—	✓	✓
Assisted Corporate Bank Current Account Opening Setup	—	✓	✓
Mandatory EPFO, ESIC & State Tax Registrations Included	—	✓	✓
1st Board Meeting Resolutions & INC-20A Commencement Filing	—	—	✓
Custom Shareholder & Co-Founder Agreement Drafting (SHA/SSA)	—	—	✓
Free Comprehensive Trademark Brand Search & Class Verification	—	—	✓
Dedicated Corporate Advisory Desk for Annual ROC Compliances	—	—	✓

Document Type	Specific Records Required	Format / Guidelines
Commercial Bank Statements	Statements of all corporate bank current accounts for the entire financial year	PDF / Net banking export
Sales & Expense Invoices	All outward billing invoices, purchase bills, and vendor receipts	Excel / Billing software records
Previous Year Filed Returns	Prior year AOC-4, MGT-7A, and ITR-6 filed acknowledgments	To verify opening asset-liability balances
Director Class 3 DSC	Active Class 3 Digital Signature Certificate of the sole director	Mandatory for MCA V3 and ITR-6 signing

Compliance Form / Event	Statutory Due Date	Statutory Penalties for Default
DIR-3 KYC (Director Annual KYC)	30th September every financial year	DIN deactivation + ₹5,000 late fee for reactivation
Form AOC-4 (Financial Statements)	Within 180 days of FY closure (27th September)	₹100 per day continuing penalty with no upper limit
ITR-6 (Corporate Income Tax Return)	31st October of Assessment Year	₹5,000 late fee under Section 234F + Loss carry-forward disallowance
Form MGT-7A (Annual Return)	Within 60 days of FY closure (29th November)	₹100 per day continuing penalty under Section 92(5)

Governance Requirement	Statutory Rule for OPC	Legal Reference
Annual General Meeting (AGM)	100% Exempted (Not required to hold AGM)	Section 96(1) Companies Act 2013
Cash Flow Statement	Exempted (Not required to attach Cash Flow in AOC-4)	Section 2(40) Companies Act 2013
Board Meetings	At least 1 meeting in each half of a calendar year (Min gap 90 days)	Section 173(5) Companies Act 2013
Statutory Audit	Compulsory every year irrespective of turnover	Section 139 Companies Act 2013

Deliverable	TaxQue OPC Managed Suite	Generic Automated Websites	Local Bookkeeper
Statutory Audit + MCA Integration	Both CA Audit and CS MCA filings bundled seamlessly	Files MCA but leaves audit to client	Unfamiliar with MCA V3 portal forms
Director Report Customization	Customized corporate director disclosures under Section 134	Generic one-paragraph text (causes MCA queries)	Missing mandatory statutory disclosures
ITR-6 Direct Tax Alignment	100% data match between MCA AOC-4 and Income Tax ITR-6	Leaves ITR-6 filing to client	Mismatched numbers trigger scrutiny notices

Accounting

OPC Compliance

Timeline conditions

Get Free Expert Consultation

Right Plan For OPC Compliance

Annual OPC Statutory Compliance & ROC Return Filing Services

What is OPC Compliance?

Section 164 Director Disqualification Alert

How to Get Started

Financial Ledger Ingestion & Statutory Audit

MCA Governance Drafting & Director KYC

MCA V3 Portal Filing & ITR-6 Corporate Submission

Documents Required for OPC Compliance

Statutory Deadlines & Penalty Matrix for OPC Compliance

OPC Statutory Governance Thresholds

Why Choose OPC Compliance

Dual CA & CS Managed Package

Zero Penalty Guarantee

Complete Startup Governance Dossier

Eligibility Criteria for OPC Compliance

1Active One Person Companies

TaxQue OPC Suite vs Generic Online Portals

Key Features of TaxQue OPC Compliance

All-in-One Annual Package

100% Active Status Shield

Dedicated Relationship Manager

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