Documents required for Incorporating a Private Limited Company
Copy of Income Tax PAN (Permanent Account Number) of all directors / Promoters.
Copy of Address Proof (Voter Id, Passport, Driving License, Aadhar Card) of all Directors / ShareHolders.
Latest passport size Photographs of all directors / Promoters.
Registered Office Address Proof - Electricty Bill along with Rent Agreement / ownership proof of proposed registered office.
Copy of Mobile bill, telephone bill, electricity bill or Bank Statement of all directors / promoters with Present address (could be different from permanent address).
Process involved in
Incorporating One Person Company
Check if the proposed promoters / directors have Director Identification No (DIN) or not
Apply for digital signatures of directors who donot have DIN.
Apply for Director Identification Number
Application for Name Approval is Filed in form INC-1
After the name is approved, the MOA and AOA are drafted and sent for MCA Approval.
If the E Forms are found to be in order and gets approved by ROC
PAN and TAN Number are applied after getting the Incorporation Certificate
Form INC-21 is filed for getting Certificate of Commencement of Business after depositing Rs. 1,00,000 share capital in bank account.
COMPLIANCES AFTER THE INCORPORATION OF ONE PERSON COMPANY
Apply for PAN and TAN
Apply for Sales Tax / Service Tax Registration based on the nature of Business.
Filing ADT-1 for Appointment of First Auditor of the Company within 1 Month of Incorporation of Company and in case the Board fails to appoint such auditor, it shall inform the members of the company, who shall within ninety days at an Extra Ordinary General Meeting appoint such auditor and such auditor shall hold office till the conclusion of the first Annual General Meeting.
Filing Income Tax Return of Company on or Before 30th September every year
To maintain proper Books of Accounts
Get your account books Audited Every Year
Filing of form 20B, Form 23AC, Form 23ACA every Year
PENAL PROVISIONS (FOR OPC)
If a company does not maintain proper books of accounts then the company and every officer of the company who is in default shall be punishable with fine which shall not be less than fifty thousand rupees but which may extend to three lakh rupees and where the failure is a continuing one, with a further fine which may extend to one thousand rupees for every day, after the first during which the failure continues.
If a company fails to file Form 20B before the expiry of the prescribed period, then the company shall be punishable with fine which shall not be less than fifty thousand rupees but which may extend to five lakhs rupees and every officer of the company who is in default shall be punishable with imprisonment for a term which may extend to six months or with fine which shall not be less than fifty thousand rupees but which may extend to five lakh rupees, or with both.
If a company fails to file Form 23 AC & 23ACA within time, the company shall be punishable with fine of one thousand rupees for every day during which the failure continues but which shall not be more than ten lakh rupees.
Subscriber to memorandum is only 1 person. Directors can be more than 1 in number.
Member of OPC is not required to hold Annual General Meeting. Therefore, the financial statements in Form 23 AC & 23ACA shall be filed with Registrar within 180 days from the closure of Financial Year.
OPC is required to do every compliance which a Private Company is required to do.