One Person Company Registration

It might be hard to start your own business, especially if you’re doing it alone. But what if you could start your dream business without a partner or a big team? That’s where the One Person Company Registration (OPC) comes in. It’s a sensible, easy, and organised approach to start. And the best part? It’s easy to accomplish anything online, from registering a company with the OPC to filing a ROC income tax return.

In this article, we’ll talk about why OPC is a wonderful choice for new business owners, what the One Person Company Registration Fees are, and how you may Register One Person Company and keep up with your taxes by filing your ROC Income Tax Return.

What is OPC, and why is it so important?

The Companies Act, 2013 lets a single person register a corporation as an OPC, or One Person corporation. Unlike a sole proprietorship, an OPC gives you limited liability, superior reputation, and a professional business structure. OPC Company Registration Online is the best approach to give your idea a legal name if you’re a freelancer, a small business owner, or just starting out as an entrepreneur.

You don’t need a co-founder or more than one director when you register your OPC online. There can only be one director and one shareholder. It’s easy to use, cheap, and perfect for solitary entrepreneurs.

One Person Company Registration Has Many Benefits

Such as Legal Identity and Filing ROC Income Tax Returns

Your business will have a legal identity once you finish registering your One Person Company Online. This assists in creating confidence with clients, obtaining for loans, and complying with ROC Income Tax Return Filing. When you file returns with ROC, the Ministry of Corporate Affairs (MCA) will recognise and regulate your business.

Limited Liability with OPC Registration: A Cost Advantage

The fundamental difference between registering a sole proprietorship and an OPC company is that the latter has restricted responsibility. If your firm loses money, you won’t forfeit your personal property. Also, the OPC registration fee is lower than those of other types of businesses.

How to Register a One Person Company in India in Steps

Step 1: Get a Digital Signature Certificate (DSC)

Getting a DSC for the intended director is the first step in registering a One Person Company. This is required to submit forms on the MCA portal.

Step 2: Get a Director Identification Number (DIN)

After you obtain your DSC, the next step is to apply for a DIN. This is required for the only director of your Single Person Company Registration.

Step 3: Reserve a Name

The MCA portal has a form called RUN (Reserve Unique Name) that you can use to apply for name reservation. This is a very important part of OPC Registration Online.

Step 4: Filling out the forms for incorporation

After you reserve the name, send in Form SPICe+ and all the other papers. This includes registering for a PAN, TAN, and GST, which makes it easy to Register OPC Online all at one.

Step 5: Following the rules for ROC income tax return filing

After your One Person Corporation Registration is granted, you have to file ROC forms such AOC-4 and MGT-7 every year, as well as ROC Income Tax Return Filing.

Documents Needed to Register an OPC Online: The Owner’s PAN Card

• Aadhar card

• Statement from the bank

• Electricity bill (office evidence)

• Picture the size of a passport

• Certificate of Digital Signature

• Nominee’s consent (because OPC needs a nominee)

These are the basic things you need to do to finish OPC Company Registration Online quickly.

Cost Breakdown: Fees for registering a one-person company

Let’s learn about how much it costs to register a One Person Company.

• Details Cost (About)

• ₹1,500 for DSC and DIN

• ₹1,000 for Name Approval

• Government Fees and Stamp Duty: ₹1,500 to ₹2,500. Professional Fees: ₹3,000 to ₹6,000.

• The total cost of registering for an OPC is between ₹7,000 and ₹12,000.

So, the OPC Registration Fees are reasonable, especially when you think about the legal protection and company reputation you get.

Filing ROC income tax returns for OPCs is a must!

After you register your OPC company, you need to file your yearly returns and financial statements with the ROC. Even if there are no sales, you still have to file your ROC income tax return.

Here’s what you need to do annually:

• Form AOC-4: Sending in financial statements

• Form MGT-7: Sending in an annual return

• Use ITR-6 to file your income tax return.

• Audit: If turnover surpasses ₹1 crore (₹50 lakhs for professionals)

All of these filings are part of ROC Income Tax Return Filing, which makes sure that everything is clear and follows MCA rules.

Things to Avoid When Registering an OPC Company

Ignoring Nominee Requirement

When you register your One Person Company, you have to choose a nominee. If the only director can’t go on, this person will take over.

Not filing ROC on time

A lot of people neglect to file their ROC income tax return. Delays might result in big fines and potentially the director’s disqualification.

Not Knowing How Much It Costs

Know what makes up the One Person Company Registration Cost. Don’t just look at the professional price; think about other costs like stamp duty and government fees as well.

Who Should Opt for OPC Registration Online?

• If you are a freelancer or consultant

• Starting a tiny business

• Wanting to limit risk

• Testing a business idea before growing

Single Person Company Registration is the best option for you. The OPC Registration Online process is straightforward and takes approximately 7-10 days if done properly.

Benefits of OPC Over Sole Proprietorship Feature OPC Sole Proprietorship Legal Status Separate legal entity

• Not a separate thing

• Limited Liability

• Unlimited ROC Filing and Compliance, as well as Mandatory ROC Income Tax Return Filing

• Not applicable. Funding Opportunities

• More Limited Business Credibility

• High Low

It’s clear that registering as a one-person corporation gives you more security and chances than being a single proprietor.

Can OPC Be Changed Later?

Yes, you have to change your OPC into a private limited company if your turnover is more than ₹2 crores or your paid-up capital is more than ₹50 lakhs. You can easily do this using the MCA site while keeping the business going.

This indicates that starting with One Person Company Registration allows you the freedom to become big when the time is appropriate.

Why Should You Register Your OPC Online?

No more standing in huge lines or filling out paperwork. Everything from DSC to final incorporation is done online using Online OPC Registration. It’s quicker, safer, and less expensive. Most systems have bundles that include:

• Sign up for OPC Company

• GST and PAN

• Reminders for ROC compliance

• Help with filing your ROC income tax return

So you may focus on your business while specialists handle the legal job.

Conclusion

OPC Company Registration Online is the best option to start a business legally and sensibly if you have an idea for one. It’s cheap, easy, and great for people.

The whole process is now easier and more accessible, from registering a one-person company to filing an annual ROC income tax return.

You may build a reputable brand with One Person Company Registration Online.

• Cut down on your debts

• Get tax breaks

• Get financing from banks and investors

• Make sure you follow professional rules

What are you waiting for? Sign up for One Person Company today and take the first step towards your dream of being an entrepreneur!

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Call us at ‪‪‪‪‪‪‪+91 84480 94507‬‬‬‬‬‬‬ or email us at info@clicktoprofessionals.com for any queries.

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