As a One-Person Company (OPC) registered under the Companies Act, 2013, certain annual compliance requirements that need to fulfil with the Ministry of Corporate Affairs (MCA) in India are
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Prepare the financial statements of the OPC, including the Balance Sheet, Profit and Loss Statement, and Cash Flow Statement in accordance with the applicable accounting standards, audited by a qualified Chartered Accountant.
Conduct an Annual General Meeting of the OPC within six months from the end of the financial year in which financial statements and other matters related to the OPC’s business should be presented to the shareholders.
Prepare a Directors’ Report with an overview of the OPC’s activities, financial performance, and future plans which include information about the OPC’s operations, changes in share capital, details of loans or investments made, and any other disclosures required under the Companies Act.
File the Income Tax Return (ITR) of the OPC with the Income Tax Department by the due date, which is generally July 31st of the assessment year. The financial statements prepared for MCA compliance can also be used for tax filings.
File the Annual Return which includes shareholding pattern, directors, changes in share capital, and other key information in Form MGT-7 with the MCA within 60 days from the date of the AGM.
Maintain and update the Register of Members, Register of Directors, Register of Contracts, and Register of Charges and keep them at the registered office of the OPC.
Obtain a compliance certificate certifying that the OPC has complied with all applicable statutory provisions from a Company Secretary/Chartered Accountant in Practice.
