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One Person Company Registration in Delhi | Tripathi & Arora Associates (+91 99713 29879)

 

One Person Company Registration in Delhi

A One Person Company (OPC) is a unique business structure in India that allows a single individual to operate a company with limited liability. This structure is ideal for entrepreneurs looking to start a business with minimal compliance requirements.

Key Features of One Person Company

  1. Single Owner: An OPC can be formed with just one person, providing complete control to the owner.

  2. Limited Liability: The owner's liability is limited to their shareholding, protecting personal assets from business debts.

  3. Separate Legal Entity: An OPC is recognized as a separate legal entity, allowing it to own property and enter contracts in its name.

  4. Minimal Compliance: OPCs face fewer regulatory requirements compared to private limited companies.

  5. Perpetual Succession: The company continues to exist even if the owner passes away, ensuring business continuity.

Steps for Registration

1. Obtain Digital Signature Certificate (DSC)

  • All directors must obtain a DSC for signing electronic documents.

2. Obtain Director Identification Number (DIN)

  • Apply for a DIN for the sole director of the OPC.

3. Name Reservation

  • Choose a unique name for your OPC and reserve it through the Ministry of Corporate Affairs (MCA).

4. Drafting the Memorandum and Articles of Association

  • Prepare the MoA and AoA, outlining the company’s objectives and rules.

5. Filing Incorporation Documents

  • Submit the required documents, including MoA, AoA, and forms, to the MCA for registration.

6. Receive Certificate of Incorporation

  • Upon approval, you will receive a Certificate of Incorporation, officially registering your OPC.

7. PAN and TAN Application

  • Apply for a Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN).

Compliance Requirements

  1. Annual Filing: OPCs must file annual returns and financial statements with the MCA.

  2. Tax Returns: Filing income tax returns annually is mandatory.

  3. Audit: An audit is required only if the turnover exceeds a specified limit.

Conclusion

Registering a One Person Company in Delhi is a straightforward process that offers numerous advantages for solo entrepreneurs. By following the outlined steps, you can establish your OPC efficiently. For assistance, consider consulting a professional service provider to ensure compliance and smooth registration.

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