Process of Registration by Taxhub
Upload the basic Documents
Choose your Requisite plan and pay the Fees
Taxhub apply for DSC and file RUN for name approval
Taxhub file Requisite Form with MOA and AOA
Get Your OPC Registration Docket
What is One Person Company?
The One Person Company (commonly known as OPC) is the type of entity which is owned by a single person. It allows a sole person to own and also manage the entire business operations. As per Section 2(62) of the Companies Act, 2013, One Person Company is a company that comprises a single person as a shareholder and can be contrasted with private companies.The members of a company are nothing but subscribers to its Memorandum of Association (MoA),or its shareholders. These companies get all the benefits of a private company such as they to have access to credits, bank loans, limited liability, legal protection, etc.
OPC Registration Process in India
- Acquire the Digital Signature Certificate
- Application for DIN of Director
- Application for approval of OPC Name
- Application for Incorporation of OPC through E Form
- Issue of Certificate of Incorporation.
Basic Documents Required
- Copy of Pan Card of Director (Mandatory)
- Copy of any one i.e Aadhar Card, Voter ID, Passport and Driving License (As Identity Proof)
- Copy of any one i.e. Bank Statement/Electricity/Telephone (As Residence Proof)
- Director Passport Size Colour Photograph (Scan Copy)
If Property is owned by any Director or his relative
- Copy of Sale Deed of the Property
- Copy of any one utility bill i.e. Electricity/Telephone/Gas/Water/Mobile
- NOC from the Owner (Taxhub will provide a draft copy)
- Copy of Rent Agreement
- Copy of any one utility bill i.e. Electricity/Telephone/Gas/Water/Mobile
- NOC from the landlord (Taxhub will provide a draft copy)
6,999/-
All Inclusive Fees
| One DSC, One DIN |
| Draft & Execute MOA/AOA |
| Certificate of Incorporation |
| Share Certificate |
| Business Commencement |
| Obtain Firm PAN/TAN |
| Assistance in opening of Bank Account |
* In case of incorporation in Madhya Pradesh, an additional stamp duty of Rs.7500 will be applicable. In case of incorporation in Punjab, an additional stamp duty of Rs.10,000 will be applicable. In case of Kerala, an additional stamp duty of Rs.3000 will be applicable.
8,999/-
All Inclusive Fees
| One DSC, One DIN |
| Draft & Execute MOA/AOA |
| Certificate of Incorporation |
| Share Certificate |
| Business Commencement |
| Obtain Firm PAN/TAN |
| Assistance in opening of Bank Account |
| GST Registration |
* In case of incorporation in Madhya Pradesh, an additional stamp duty of Rs.7500 will be applicable. In case of incorporation in Punjab, an additional stamp duty of Rs.10,000 will be applicable. In case of Kerala, an additional stamp duty of Rs.3000 will be applicable.
10,999/-
All Inclusive Fees
| One DSC, One DIN |
| Draft & Execute MOA/AOA |
| Certificate of Incorporation |
| Share Certificate |
| Business Commencement |
| Obtain Firm PAN/TAN |
| Assistance in opening of Bank Account |
| GST Registration |
| GST Returns 3 Months |
* In case of incorporation in Madhya Pradesh, an additional stamp duty of Rs.7500 will be applicable. In case of incorporation in Punjab, an additional stamp duty of Rs.10,000 will be applicable. In case of Kerala, an additional stamp duty of Rs.3000 will be applicable.
Beneifts of OPC Registration in India
It is easy to incorporate OPC as only one member and one nominee is required for its incorporation. The member can be the director also. The minimum authorised capital for incorporating OPC is Rs.1 lakh but there is no minimum paid-up capital requirement. Thus, it is easy to incorporate as compared to the other forms of company.
OPC can be started with as much as low paid up capital. There is no such mandatory paid up capital requirement specified in the Companies Act.
The OPC has the feature of perpetual succession even when there is only one member. While incorporating the OPC, the single-member needs to appoint a nominee. Upon the member’s death, the nominee will run the company in the member’s place.
An OPC gives the advantage of limited liability to entrepreneurs whereby the liability of the member will be limited to the unpaid subscription money. This benefit is not available in case of a sole proprietorship.
The One person Company includes in the definition of “Private Limited Company” given under section 2(68) of the Companies Act, 2013. Thus, an OPC will be required to comply with provisions applicable to private companies. However, OPCs have been provided with a number of exemptions and therefore have lesser compliance related burden.
As OPC is a separate Legal Entity so it is possible for a company to make a valid legal contract with the shareholder and its director. You can pay the remuneration to yourself and receive the rent yourself and these all are allowable expense and it will reduce your profitability and ultimately tax will be lower.
Shares of a company are movable property and thus can be transferred like any other property. A public company can freely transfer its shares, but there are some restrictions.
The goods and services tax (GST) is a value-added tax levied on most goods and services sold for domestic consumption. The GST is paid by consumers, but it is remitted.
