What is Annual Compliance Filing?

Annual Compliance Filing is a regular update to the Govt. proving that the entity is conducting its business following the Companies Act, 2013. It has a few essentials like: A Board Meeting of the Director(s) Annual General Meeting Appointing an Auditor Annual Registrar of Companies (ROC) filing Income Tax Compliance

What are the penalties /consequences for late or non-filing of Annual Return?

Late filing – Daily penalty of Rs 100 up to maximum Rs 5 Lac Non-filing – In case of non-filing for three financial years at a row will cause the exclusion of Directors.

What are the required documents in the Annual Compliance process?

For filing an Annual Compliance, the required documents are - Directors’ Board Meeting minutes, profit & loss balance sheet, conclusions from Annual General Meeting, Audit report, DSC of the Directors, and incorporation documents (PAN Card, Certificate of Incorporation).

When and where the AGM can be conducted?

The AGM should be conducted during the business hours of the company and the AGM should be held in the registered office of the entity or in the same jurisdiction area in which the registered office of the entity is located.

Can the board meeting be held through video conferencing?

Yes, the board meeting can be conducted on an online audio-visual platform like a video conference in any other forms.

Annual Compliance for One Person Company(OPC)

By Online Legal India Published On 25 Feb 2021 Updated On 06 Jan 2025 Category Compliance

Every One Person Company has to intimate ROC regarding the yearly income and expenditure and every other detail of the company annually.

It is mandatory to follow the compliances and if we fail to do the compliance then the penalty is levied for the same.

Annual Compliance required for One Person Company

Minimum two Board Meetings is required to be held;
Maintenance of the Statutory Registers and Minutes;
Statutory Audit should be done by any Practicing Chartered Accountant;
Filing of Form MGT-7 for the annual return;
Filing of Form- AOC-4 for the financial statement;
Filling of an Income Tax Return;
Appointment of an Auditor;
Annual Filing to the Registrar of Companies.

What are the forms required to be filed for Annual Compliances?

Form AOC-4 for the Financial statement and form MGT-7 for Annual return is required to be filed for Annual return.

What is the due date to file forms?

The financial statement of OPC is to be filed within 180 days from 31st March of the financial year and annual return within 60 days from the completion of AGM.

How can we help you?

These compliances can be made online you can file your application online on the official website of Online Legal India™. Our expert team of highly qualified CA/CS and 10+ years of experienced lawyers would assist you to comply with the legal filings of One Person Company. We have budgeted services for those who are willing to venture into a company, business or any other kind of organization.

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