Taxzona

According to Section 2 (62) of the Companies Act, 2013, a company with only one person as its member falls into the category of One Person Company. An OPC compliance requirement is similar to that of a private limited company . As we all know, a one-person company enjoys the status of a separate legal entity. Thus, the extent of the liability of the directors is limited to the extent of the amount invested by them. It must be noted that one person company can only be incorporated as a private limited company. Thus, all the provisions applicable to private companies are applicable to one person company compliance too. In this article, you will learn about one person company compliance and the annual returns to be filed after the incorporation of an OPC . Annual Filings for One Person Company Compliance : 1. MBP 1: Form MBP-1 is to be filed by the directors in one-person company compliance to disclose their interest in other companies yearly on the first Board Meeting of every year or th