01
Books and financial statements
Maintain company-level books and supporting records, close the financial year and prepare the applicable financial statements and Board reporting.
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OPC • ROC • AUDIT • TAX
OPC compliance, organised around one accountable founder.
Coordinate statutory audit, financial statements, MGT 7A, director obligations, tax filings and event based ROC actions through one annual compliance record.
For active, pre-revenue and recently incorporated One Person Companies across India. Exact obligations depend on incorporation date, financial year, directors, turnover, registrations and events.
01 • COVERAGEAnnual plus eventsROC, tax and records
02 • GOVERNANCEOPC specificNot a private company copy
03 • SUPPORTPan IndiaOnline led coordination
Clarity continues beyond the first step.
The original page-specific roadmap is retained here, with every detail available after the quick enquiry panel.
An OPC has concessions, not a compliance exemption. The AGM position and certain governance rules differ, but annual financial, audit, return, director and tax obligations can still apply.
Compare the obligations CORE OPC OBLIGATIONS
Build the annual record before the portal filing.
02
Statutory audit
Coordinate the statutory audit, management information and resolution of accounting or disclosure points before annual filings.
03
OPC decision records
Document member and Board decisions through the OPC-specific statutory route, including resolutions entered in the minute book where applicable.
04
AOC 4 filing
File the financial statements and prescribed attachments within the timeline applicable to an OPC after the relevant approval process.
05
MGT 7A annual return
Prepare the abridged annual return using current member, director, registered office, share-capital and other prescribed information.
06
Director and event filings
Track DIR 3 KYC and changes involving director, nominee, registered office, auditor, capital or other reportable events.
DECISION TABLE
Separate annual work from incorporation and event filings.
| Obligation | Typical filing or record | Why it matters | Applicability signal |
|---|---|---|---|
| 01Financial statements | AOC 4 with applicable attachments | Places the approved annual financial record on the MCA register | Every financial year, subject to current law |
| 02Annual return | MGT 7A | Reports prescribed company, member and governance particulars | Every financial year for an OPC |
| 03Statutory audit | Audited statements and auditor reporting | Supports financial reporting and annual ROC filing | Company audit framework applies |
| 04Director identity | DIR 3 KYC or applicable web route | Keeps covered DIN and contact particulars current | Based on DIN status and current MCA rules |
| 05Commencement | INC 20A where applicable | Declaration linked to commencement for covered companies with share capital | Once after incorporation, not annually |
| 06Event based changes | DIR 12, INC 22, ADT 1 and other forms as applicable | Updates the statutory register after a reportable event | Only when the relevant event occurs |
| 07Income tax | Applicable company income tax return and audit reports | Reports taxable income, losses and prescribed disclosures | Each year based on tax law and facts |
| 08GST, TDS and payroll | Returns, deposits and records under separate laws | Keeps operating taxes aligned with transactions and people | Only where registration or liability applies |
OPC IS NOT A ONE PERSON SOLE TRADE
One owner. A legally separate company.
OPC and sole proprietorship
An OPC is incorporated under company law and has a separate legal identity; a proprietorship is not a separate incorporated person.
AGM position
Section 96 excludes an OPC from the AGM requirement, but annual financial and return filing obligations remain.
Member decisions
Where the OPC has one member, resolutions communicated to and entered by the company may satisfy the statutory meeting route for covered business.
Board governance
Board-meeting treatment depends on the number of directors and the OPC-specific Companies Act provisions.
Nominee and succession
The nominee framework is part of the OPC structure; changes or eligibility issues require timely review and documentation.
Tax and other registrations
Company incorporation does not replace income tax, GST, TDS, professional tax, labour or local compliance where separately applicable.
DOCUMENT READINESS
Maintain one defensible company file.
Keep the company’s money, decisions and evidence distinct from the member’s personal records.Request a tailored checklist- Certificate of incorporation, memorandum, articles, PAN and TAN
- Member, nominee, director and registered-office records
- Books, trial balance, ledgers, bank statements, invoices and vouchers
- Share-capital, beneficial-ownership and related-party information
- Board and member decisions, disclosures, resolutions and minute-book records
- Prior AOC 4, MGT 7A, DIR 3 KYC and event filing acknowledgements
- Auditor appointment records, audit schedules and signed financial statements
- Income tax, GST, TDS, payroll and other registrations actually applicable
OUR WORKFLOW
Review first. Reconcile next. File with context.
01
Status review
Check MCA master data, incorporation follow-through, prior filings, DINs and reportable events.
02
Year close
Organise books, statements, disclosures, tax records and audit support.
03
Approve
Complete the OPC-specific member and Board decision sequence and obtain required signatures.
04
File and retain
Submit applicable ROC and tax forms and preserve challans, acknowledgements and source workings.
RISK CONTROL
Correct defaults from the actual statutory record.
Additional filing fees, adjudication, director consequences or strike-off exposure depend on the form, period, provision and status. Avoid blanket penalty assumptions.- Dormant activity assumptionNil turnover or no bank movement does not by itself remove annual company filing obligations.
- Personal and company records mixedIntermingled funds and undocumented transactions weaken accounts, audit evidence and limited-liability discipline.
- Event filings missedDirector, nominee, office, auditor or capital changes may trigger forms outside the annual cycle.
- One fee quoted for all defaultsDifferent delayed filings and substantive breaches can follow different additional-fee and penalty provisions.
OPC COMPLIANCE QUESTIONS
Clear answers for a one member company.
Answers are general guidance. Applicability depends on the entity, facts, tax period, records and law in force.Ask an expert question01Does an OPC need annual compliance even with no business activity?+
Yes. Incorporation creates continuing Companies Act obligations even where turnover or transactions are nil. The exact filing set depends on the company’s status, financial year and events.
02Does an OPC have to hold an AGM?+
Section 96 of the Companies Act excludes a One Person Company from the AGM requirement. This does not remove its annual financial-statement and annual-return obligations.
03Does an OPC file MGT 7 or MGT 7A?+
MGT 7A is the abridged annual-return form prescribed for OPCs and small companies. The current form, attachments and portal requirements should be checked for the relevant financial year.
04Is statutory audit mandatory for an OPC?+
An OPC remains a company under the Companies Act and falls within the statutory audit framework. Separate tax-audit or other audit requirements depend on their own laws and thresholds.
05Is INC 20A an annual filing?+
No. INC 20A is an incorporation follow-through filing for covered companies having share capital, subject to the statutory conditions. It should not be listed as an annual return.
06Can delayed OPC filings be regularised?+
Many delayed forms can be filed with applicable additional fees, but the available route depends on company status, portal access, the event, limitation and any adjudication or strike-off issue.
07Can one person use the OPC bank account personally?+
Company funds should remain separately recorded and used for properly authorised company purposes. Personal withdrawals or related-party transactions require correct accounting, approval and tax treatment.
08When should an OPC convert its structure?+
Conversion or restructuring should be assessed when ownership, fundraising, scale, succession or commercial requirements outgrow the one-member model, subject to the law in force.
PRIMARY REFERENCES