An OPC must get its accounts audited, file AOC-4 within 180 days of the financial year end, file MGT-7A, complete DIR-3 KYC and file its income tax return every year. It is exempt from holding an AGM, needs no cash flow statement, and can hold just one board meeting in each half year, or none with a single director.
Annual filings
| Filing | Due |
|---|---|
| AOC-4 (financial statements) | Within 180 days of financial year end |
| MGT-7A (annual return) | Within 60 days of when the AGM would have been due |
| DIR-3 KYC | By 30 September |
| Income tax return | As per the Income Tax Act |
Exemptions an OPC enjoys
- No annual general meeting
- No cash flow statement in financial statements
- Annual return can be signed by a director where there is no company secretary
- Relaxed board meeting requirements
First-year obligations
- Appoint the first auditor within 30 days.
- File INC-20A within 180 days after capital is received.
- Maintain statutory registers and minutes of resolutions.
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Get expert help →Penalties for default
Late ROC filings attract daily additional fees. Continuous non-filing for three years can disqualify the director and lead to strike-off of the company.
Frequently asked questions
Does an OPC need to hold an AGM?
No. Section 96 exempts One Person Companies from holding an annual general meeting. Resolutions that would be passed at an AGM are recorded in the minute book and signed by the member.
Is audit mandatory for an OPC with low turnover?
Yes. Every OPC must appoint an auditor and have its financial statements audited annually, regardless of turnover or profit.
What is the due date of AOC-4 for an OPC?
An OPC files AOC-4 within 180 days from the close of the financial year, which is generally 27 September for a March year end, instead of the 30-days-from-AGM rule applicable to other companies.
Do OPCs need to file MSME-1 and DPT-3?
Yes, where applicable. MSME-1 is filed if dues to micro or small suppliers remain unpaid beyond 45 days, and DPT-3 reports deposits and exempted loans, including loans from the member.
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