OPC Compliance by ND Salva & Associates
A One Person Company (OPC) allows a single entrepreneur to run a corporate structure with limited liability under the Companies Act, 2013.
But despite its simplicity, OPCs must comply with several annual and event-based legal requirements.
Non-compliance may result in penalties, director disqualification, or even strike-off by the Registrar of Companies (ROC).
At ND Salva & Associates, we ensure your OPC remains compliant with the Companies Act, Income Tax Act, and GST regulations.
OPC Annual Compliance Checklist
- Appointment of Auditor – ADT-1 (within 30 days of incorporation)
- Filing of Financial Statements – AOC-4 (within 180 days of FY end)
- Annual Return – MGT-7A (within 60 days of signing financials)
- Director KYC – DIR-3 KYC / KYC-WEB (by 30th September)
- Income Tax Return – ITR-6 (by 31st October)
- MSME Outstanding – MSME Form I (30th April & 31st October)
- Loan Disclosure – DPT-3 (30th June)
- Disclosure of Interest – MBP-1 (first board meeting)
- Director Disqualification Declaration – DIR-8 (annually)
- Commencement of Business – INC-20A (within 180 days)
- Registered Office Filing – INC-22 (within 30 days if not in SPICe+)
- Board Meetings (if >1 director) – One per half-year
- Maintenance of statutory registers
- Mandatory statutory audit
Form AOC-4 – Filing of Financial Statements
Due Date: Within 180 days from the end of the financial year
Who Signs: Director + CA certification
Penalty: ?100/day of delay
Form MGT-7A – Annual Return
OPCs must file this simplified annual return.
Due Date: Within 60 days of financial statement approval
No AGM required
Signed By: Only Director
DIR-3 KYC
Mandatory for all directors with DIN.
Due Date: 30th September annually
Income Tax Return – ITR-6
Mandatory for all OPCs, even with NIL turnover.
Due Date: 31st October
Tax audit applies if turnover exceeds ?1 crore
Other Mandatory OPC Compliances
- DPT-3: Loan/borrowing disclosures – 30th June
- MSME Form I: For dues >45 days – 30th April & 31st October
- INC-20A: Commencement of Business – within 180 days
- INC-22: Registered office address – within 30 days
Registers & Records to Maintain
- Register of Members
- Register of Directors
- Minutes Book (even if only one director)
- Financial Books of Accounts
- Director's Interest Disclosures (MBP-1)
- Resolutions under Section 122
Exemptions Available to OPCs
No AGM Required
OPCs are exempt from holding an Annual General Meeting.
Only One Director Allowed
Simple governance reduces compliance burden.
Simplified Board’s Report
Reduced disclosures as compared to Pvt Ltd companies.
No Auditor Rotation
OPCs are exempt from mandatory auditor rotation.
No CARO Applicability
OPCs have simplified audit requirements.
Cash Flow Exemption
No need to prepare a cash flow statement.
Why Choose ND Salva & Associates?
- Timely filing of AOC-4, MGT-7A, ADT-1, DIR-3 KYC, DPT-3, MSME-I, INC-20A
- Preparation of statutory registers and resolutions
- Director compliance advisory
- Audit coordination & tax filing
- GST, TDS & regulatory compliance support
- Custom annual compliance calendar for your OPC
- Flat-fee retainer plans available