ONE PERSON COMPANY- Annual Compliance
Regarding Holding of Board Meeting, Annual General Meeting & Filing of Financial Statements
- Meetings of Board {Section 173(5)}
- At least one meeting of the Board of Directors to be conducted in each half of a calendar year
- Gap between the two meetings should not be less than ninety days
- Exemption – if company has only one director.
- Holding of Board Meetings
The company shall hold 2 (two) board meetings once in a year with a gap of 6 months. (i.e. January to June and July to December).
- Holding of Annual General Meeting
As per Section 139 (1) OPC has to hold its first Annual General meeting of members to appoint Statutory Auditor of company who shall hold office from conclusion of first AGM till conclusion of sixth AGM.
- Financial Statements i.e. Balance sheet and Profit and Loss Account
- The financial statements of a one person company shall be signed by one director alone. As per section 137(1) Third Proviso, Financial statements shall be adopted and signed in Board meeting and filed within 180 days from 31st March of every year with Registrar of Companies.
- Cash Flow Statement is not a mandatory part of financial statements for a One Person Company.
- The annual return of a One Person Company shall be signed by the company secretary, or where there is no company secretary, by the director of the company as per Section 92 of Companies Act 2013.
- Filing of Annual forms with Government
Financial Statement:- It shall cover Balance sheet, Profit or loss account, Auditor’s report, Notes of accounts
| A | B |
| Type of form | Companies Act 2013 |
| Financial Statement, Profit or loss statement | e-form AOC-4 |
| Annual Return | e-form MGT-7 |
Due Dates of filing e-forms and mandatory attachments with Government
| Type of e-form | Due Dates | Mandatory attachments to e-form |
| AOC-4 |
27th September of every year
|
Copy of Financial Statements |
| MGT-7 | 27th September of every year | Copy of Annual return (MGT-9) |
Exemptions available to OPCs under the Companies Act, 2013
1. Section 98. Power of Tribunal to call meetings of members.
- Section 100. Calling of extraordinary general meeting.
- Section 101. Notice of meeting.
- Section 102. Statement to be annexed to notice.
- Section 103. Quorum for meetings.
- Section 104. Chairman of meetings.
- Section 105. Proxies.
- Section 106. Restriction on voting rights.
- Section 107. Voting by show of hands.
- Section 108. Voting through electronic means.
- Section 109. Demand for poll.
- Section 110. Postal ballot.
- Section 111. Circulation of members’ resolution.
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Dear madam
OPC incorporation date is 11/01/2019. I have filed the MGT-7 and AOC-4 for the fy 11/01/2019-31/03/2020 without showing AGM
I have appointed the auditor in board meeting with in 1month after the incorporation . Now i have to file the MGT-7 and AOC-4 for the fy 2020-21. how can i appoint the auditor for 5 years. As per the private company rules 1 st AGM we can appoint the Auditor for 5 years. But i didnt show the AGM in AOC4 and MGT-7. Please help me for further filing
I apology for late reply. For OPC, AGM provision is not applicable. Therefore in e-form AOC 4, after you pre fill OPC CIN, the system automatically shows AGM – N.A..In Board meeting auditor shall be appointed.
Mam, If i want to increase share capital and paid up capital upto 20 lakhs rupees.
Company is having one director and one member.Is it necessary to conduct EGM and Board meeting for the same?
For One Person Company, you can hold Board meeting to increase share capital.
How to appoint Statutory Auditor in case of OPC, we haven’t appoint any auditor within 30 days of incorporation. Provisions to conduct AGM is also not applicable to OPC. Is it possible to appoint a Statutory auditor for 5 years direclty?
In case of OPC, Auditor can be appointed in Board meeting. Since auditor has to be appointed for five years in general meeting, we as a practice hold First AGM for appointment of auditor for five years though the provision is not applicable as per law.
An OPC company was formed on 13th August now upto when 1st BM should be held
Private Limited shall hold Board meeting for appointment of Statutory auditor within 30 days of incorporation. There is no restrictions in case of OPC for holding of Board meeting. But as good corporate governance the company can hold Board meeting within 2 months from date of incorporation for issue of share certificates.
OPC Incorporated in May 2019, can we apply for change in name for OPC??
Yes you can apply for change of name. But in that case either you have to change the existing main object. Because most of the ROC insist or suggest to change the main object which would be alike to new name.
1)Issue of SHARE CERTIFICATE
2)FRANKING OF SHARE CERTIFICATE
3)BEN-2
4) MPB-1
ARE THESE REALLY NECESSARY FOR OPC?
Yes all these compliance are mandatory because it is OPC. 4) it is MBP-1.
is it necessary to registered gst while opening opc
After incorporation of OPC if GST number is necessary, you can apply for the same.
Hi, OPC incorporated on 21st Aug 2019.
First Auditor not appointed and ADT-1 not filed till date.
How to appoint 1st Auditor is it mandatory to file ADT-1?
What would be the due date of 1st AGM?
Can the OPC appoint Auditor at 1st AGM?
After holding of first Annual General meeting, e-form ADT-1 ( appointment of auditor) shall be filed. The due date of filing of all forms, e-form ADT-1, e-form AOC-4 and e-form MGT-7 is 27.09.2019 if the financial year ends on 31.03.2019. As per Company law, the financial statements, annual return and related form of annual filing shall be filed within 180 days from date of closing of first financial year. This is also applicable for subsequent financial years.
CERTIFICATE FOR COMMENCEMENT OF BUSSINESS IS MANDATORY ? FOR A ONE PERSON CO. ?
Yes , Certificate for commencement of business is mandatory for OPC as per Companies (Amendment Ordinance) 2018
Mam, itr of an opc for 18-19 has been duly filled. But auditor didnot signed the balance sheet and aoc 4 is also not uploaded. Auditor has resigned in Oct 2019. And adt 3 has been filed. Now who will sign tha balance sheet and audit report. And what about filing of aoc 4 upto 180 days requirement? What is the solution?
I would like to know without signature of auditor, how ITR was filed?
If you have not yet filed AOC-4 form MGT-7 form then you can take advantage of Companies Fresh Start Scheme (refer circular dated 30.03.2020).
What are the consequences and solution ..if opc hasn’t apppinted auditor in first AGM and has complied with clauses of board meeting.
It would be default in signing of Financial statements if auditor has not been appointed in first AGM. The auditor cannot prepare accounts and sign financial statements and without signed financial statements by CA, company cannot file financial statements to the Government.
Answer to your questions :-
1) NO.
2) NO.
As per my opinion, the business of appointment of an auditor has to be decided in Annual General meeting. Though in case of OPC, holding of subsequent AGM is exempted, in case of appointment of new auditor, OPC has to hold AGM.
Madam,
Please refer the provisions of section 122(3) of the Companies Act, 2013 which reads as follows:
“any business which is required to be transacted at an AGM or EGM by means of ordinary resolution or special resolution, it shall be sufficient, if, in case of OPC, the resolution is communicated by the member of the company and entered in minutes-book, and signed and dated by the member, and such date shall be deemed to be the date of meeting for all purposes under this Act.”
SO IT MEANS THAT the auditor appointment for 5 years which should be done at AGM by passing ordinary resolution
CAN BE DONE BY member of opc by passing a resolution and communicating it to the company
Yes, your interpretation is right as per the provisions of Section 122(3)of the Companies Act 2013. Hence date of signing of ordinary resolution and signature on minutes of meeting shall be date of annual general meeting. So it is implied that general meeting is said to be held and necessary form is to be filed to Registrar of Companies.
Madam,
Please refer the Section 122 of the Companies Act, 2013 where in it is clearly said that any business which is to be transacted by ordinary resolution / special resolution at any AGM or EGM it is sufficient that the member communicates the resolution to company and shall be deemed to be the date of AGM or EGM for all purposes under the Act.
It means no need to hold AGM, just pass resolution for accounts approval or auditor appointment, and communicate to company, thats all.
thanks and regards
Yes no need to hold AGM just pass ordinary resolution for accounts approval or auditor appointment and signing on documents shall be date of Annual General Meeting.
While filing AOC-4 for my OPC on 03-10-2019 i have paid additional fee of Rs 1800. Once notification for extension of filing was published on 29-10-2019 then additional fee was waived off. Can i claim refund? Plz guide.
As per Government Rules, the refund of MCA21 fees is available in the following cases:
a) Multiple Payments – – This includes cases where service seeker does multiple filings of eForm No. INC-2/INC-7/old Form 1 or eForm No. SH-7/old Form 5 and makes payments more than once (multiple times) for the same service. However, refund shall not be allowed in respect of approved eForms.
b) Incorrect Payments – This includes cases where the service seeker has made payment in respect of an eForm or Stamp duty through an incorrect option under Pay miscellaneous fee facility.
c) Excess Payment – This includes cases where any excess fee has been paid by the service seeker due to some incorrect data entered in the eForm or incorrect data in MCA21 system due to migration of data from legacy system
Refund process is not applicable for the following services/ eForms:
•Public Inspection of documents
•Request for Certified Copies
•Payment for transfer deeds
•Stamp duty fee (D series SRN)
•IEPF Payment
•STP Forms i.e. Form 20B, 23AC, 66, 21A, 23ACA, Form 14 – LLP (even for cases when the same were non STP earlier)
•Form No. DIR-3/old form DIN – 1
In your case you have filed e-form AOC-4 which is approved under STP mode, so I think you cannot apply for Refund.
Is it mandatory for OPCs to conduct AGM every year.?
1st AGM for OPC is compulsory. Subsequent filing of Financial statements, holding of board meeting to adopt and sign them would be required as per company law provision. As and when there will be change in service of statutory auditor, requirement of holding AGM is necessary.
appointment of subsequent auditor in the AGM is compulsory even if there is sole member and only one directors (both are same person). can be made appointment in the board meeting in which board of director report’s approved ?
For appointment of auditor, Annual General meeting of OPC is necessary.
I have incoporated opc company on jan 18,but company having no income.is it compulsory to file roc compliances
Yes, Being Private Limited company though there was no income earned so far after incorporation, as company law compliance, annual filing i.e. filing of AOC-4 and MGT-7 to Registrar is compulsory. It would be default otherwise. The Government has provided extension of filing AOC-4 and MGT-7 for FY 2019. So if you can get advantage of filing financial statements till 30.11.2019 without additional fees.
Ma’am,
Do we need to attach MGT-9 with Director Report
Yes
Ma’am,
Is this compulsory>
Annual filing of OPC is compulsory.
1. Is last date of financial statement and Annual return of OPC is 27 september or 29 september?
2. Act does not clarify the date of AGM of OPC, only section 139 said to appoint first Auditor in AGM upto sixth AGM.
Now my question is what is last date of FIRST AGM of OPC. Is it 27 septemeber or 30th september or 31st December (1st AGM within 9 months)?
1. Due date for filing AOC-4 for financial statements and MGT-7 for Annual Return was 27th September i.e. filing should be done within 180 days from closure of financial year.
2. Yes that’s right. The Companies Act 2013 does not talk about calling of AGM in case of OPC. But OPC is private limited company, so it should appoint Statutory auditor to audit the financial year every year and who shall be appointed in first AGM till conclusion of sixth AGM. Hence though every AGM should not be held, the financial statements audited by AUditor and signed by director should be filed to ROC every year.
3. Due date of AGM of OPC is 27th September.
madam
my opc incorporated 21st march 2018
on 31st december i submit aoc 4 and mgt 7
i charged 9500+300
want to know the reason ?
and also want to the charge of dir3 kyc
as because i charged 5000 for it.
OPC i.e. One Person Company is a Private Limited company as per Company Law. So the provisions of additional fees are same which are applicable to Private ltd company. The financial statements shall be filed before 180 days from date of closing of financial year. That is why you have observed additional fees. If there is delay in filing DIR-3 KYC, then there will be additional Government fees which is Rs. 5000/-.
Mam how can OPC Company change its name. Can we hold EGM to change the name.
As OPC is private limited company, the provisions applicable for any private limited company shall equally apply to OPC. Please refer Section 13 of Companies Act, to change name of company and hold EGM to obtain member approval.
Mam, my OPC incorporated on 14/02/2019, and a CA has been appointed as auditor for FY 2018-19 within 30 days and form ADT 1 has been submitted on MCA portal.
But now I want to get my FS for 14/02/2019 to 31/03/2020 in next year, not the FY 2018-19. Please guide me how to proceed as the form ADT 1 already submitted for FY 2018-19. Is this will be a compulsion to have audit for FY 2018-19 as ADT 1 has been submitted to MCA.
After incorporation of OPC, it shall hold its first Annual General meeting in which first statutory auditor shall be appointed. Since you want to close your first financial year as on 31.03.2019, you will have to hold AGM and file ADT-1 before 27th September 2019 to Registrar. The auditor who was appointed for FY 18-19 was for preparing accounts till 31.03.2019, so you should appoint him again or new auditor for next five financial years in AGM and file new ADT-1 after holding AGM.
i have started an OPC at 2nd May-19.There is on any Business has started. How many days i have to compliance.Kindly let me know.
After incorporation of OPC, the company should open Current account in any bank, deposit initial subscription amount of paid up capital. The company has to issue share certificate to the member of Memorandum of Association within 60 days from date of incorporation. The company has to file INC-22A (Form of commencement of business). Without filing INC-22A, company cannot commence its business. This is new amendment in the Companies (Incorporation) Rules.
We incorporated an OPC on 16th Apr 2019, I would like to know what all ROC compliances should we meet?
What I meant is, are the points mentioned on this blog the only ROC compliances to be met? I met couple of CA’s they asked us to appoint a secretary as well.
1. Is it mandatory to appoint a secretary?
2. For what all tasks do we require a CA? Can we upload the ROC forms by our self on MCA website? Which form will require CA’s DSC or authorization?
In the first Board meeting, the board of directors of OPC shall appoint statutory auditor and Company Secretary to comply company law ( Practising company secretary). Only Practising Company Secretary has given power by the Government to certify e-form MGT-7 (Annual Return). So it is compulsory to appoint CS. CA will do audit of financial statements and CS will help and guide directors how to conduct board meeting, how to maintain minutes of board meetings, general meetings, maintainance of statutory registers. The Directors shall disclose the number of board meetings, general meetings held during the year in e-form MGT-7 and for which PCS has to certify the true and correct information of meetings and other statutory compliance made or not.Therefore PCS plays very vital role in annual compliance. CA can certify e-form AOC-4 . Whereare CS can certify e-form AOC-4 and e-form MGT-7.
First of all congratulations to you for new OPC.
1. The provisions applicable as far as issue of share certificates, annual filing are same for OPC and Private ltd. companies. So after incorporation, the company should issue share certificate to the only member within 60 days from date of incorporation.
2. The company should file e-form INC-20A to commence business to ROC within 180 days from date of incorporation. Without filing this e-form, you cannot commence business.
3.After closure of first financial year, an OPC shall file AOC-4, MGT-7 and ADT-1 to ROC within 180 days from its closure.
I have registered opc on 12 october 2018..
What is due date of Roc filing ?
2) When doing Roc filing by online service or any ca like you …. Do i need to provide my class 2 dsc or they will use their own dsc ?
Due date of filing AOC-4 (Financial Statements of OPC) and MGT-7 (Annual Return of OPC) would be 27th September, 2019 and ADT-1 (Appointment of Statutory Auditor) fifteen days from the date of first Annual General Meeting. DSC of director and DSC of Practising CS is compulsory for annual filing of these forms.
Casual vacancy caused by resignation of existing auditor is required to be filled up in the General Meeting. Since the existing auditor has resigned on March 2019, the new auditor shall prepare financial statements for the year 1.4.2018 to 31.3.2019. The new auditor can not prepare the same unless he/she shall be appointed in EGM.
Thanks for your reply
In OPC, Auditor has been appointed for 5 years ie till FY 2021 and in March 2019 Auditor has resigned due to pre-occupancy. now to fill casual vacancy of Auditor EGM is required or not?
limited to my Knowledge, as EGM is not required in the case of OPC
Thanks in advance
For commencement of business 20A of OPC, Is it necessary to sign CS/CA/CWA?
As per Section 10A of Companies Act 2013 and Companies Amendment Ordinance, 2018, a company incorporated after the commencement of Company Amendment Ordianance 2018 and having a share capital shall not commence any business or exercise any borrowing unless declaration is filed by director within 180 days of incorporation in e-form 20A with certification by CA/CS/CWA.
I have incorporated OPC on 15th March 2019.
I am planning to submit my AOC-4, MGT-7, ADT-1 on or before 29th Sep 2020.
Is it fine?
Do I need to submit ITR-6 in this financial year?
Yes for every private limited company, the company has an option to close its first financial year in the next immediate financial year i.e. after completion of 15 months if the company was incorporated in between January to March of that year. Refer Section 2(41) of the Companies Act 2013.
Regarding Filing of ITR, you better get an opinion of CA.
Dear Ma’am,
Thanks for the blog.
We are currently in process of incorporating a LLP. The number of partners not having a valid DIN are more than two. As mentioned in the FiLLiP form, DIN can be applied for a maximum of two persons. Is it possible to file Form DIR-3 for the other partners before incorporation?
As per FiLLiP form, maximum of two DINs/DPINs can be allocated through FiLLiP. For other partners, you can file DIR-3 KYC separately. You may include names of other directors i.e. partners after incorporation process.
my opc was incorporated on 12/12/2017.what is due date FOR AOc-4 and mgt-7 and what is penalty rules regarding this if i file this today.
please help out asap. waiting for you quick response.
If OPC was incorporated on 12/12/2017 then its first financial year should end on 31.03.2018, due date of filing of ADT-1, AOC-4 and MGT-7 was 30.09.2018. Please check the ROC and additional fees on MCA portal under enquiry fees.
Does an OPC need to file any annual return or any other compliance document before commencing business i.e. after incorporation but before obtaining a Commencement of Business (COB) certificate? If yes, which one(s) and why? Does an auditor need to be appointed prior to Commencement of Business?
OPC is required to file Annual return and file AOC- 4 ( Financial statements) MGT-7 (Annual return) and ADT-1 form ( Appointment of statutory auditor) on or before 29/30th September every year after signing financial statements by one director and auditor. Statutory auditor has to be appointed by OPC in first board meeting immediately after its incorporation and ADT-1 form is to be filed with ROC within 30 days from date of appointment in Board meeting. Besides Appointment of an auditor, company secretary ( who is in practice) should be appointed in first board meeting to guide OPC as far as company law is concerned. Practising Company secretary is the only professional who has authority to certify e-form MGT-7 ( Annual Return) to confirm that records of meetings and other compliance is in order. So CS Professional plays very important role in private limited company.
AS per 22.02.2019 notification laid down by the Government, OPC shall be required to file ACTIVE form ( Form for disclosing the registered address of company) to ROC on or before 25.04.2019. ACTIVE form is mandatory for OPC.
Besides this, as per Companies (Appointment of Directors ) Rules, every director who has been alloted approved DIN, shall require to file DIR-3 KYC after closing of each financial year on or before 30th April.
These are urgent and important compliance.
Failure in filing DIR-3 KYC before due date attracts heavy penalty of Rs 5000/- per DIN. The DIN will be deactivated.But after paying Rs 5000 and filing KYC , DIN status will change from deactive to active
Failure in filing ACTIVE form before due date attracts heavy penalty of Rs 10000/- The master date of company will show- Deactive company on MCA portal.
the company cannot file event based forms such as appointment of additional director, shifting of registered office, increase of capital without filing of delayed ACTIVE Form
hello mam,
The OPC was incorporated on April 2017. However the director failed to appoint an auditor within 30days of the incorporation and wishes to appoint the auditor now i.e 2019. Should the AGM be held and resolution needs to be passed to appoint the auditor?
File OPC annual forms AOC-4 , ADT-1 and MGT-7 asap for the financial year 2018.
i have incorporated my company as OPC and got certificate of incorporation on 20th february 2017. My company secretary in practice have not filled any return till date, now he is asking me we have done mistake and is asking late fee of Rs. 30000 for AOC1, MGT 7forms etc. Please tell me what to do and which financial return i have to fill and what will be the fees
Every OPC pvt. Ltd is required to file AOC-4 and MGT-7 every year on or before 30.09. If there is delay in filing, then Rs. 100 per day penalty will be applicable. I advise you to please file the forms asap.
Mam
My OPC company was formed in February 2016.Since then I have been filing IT returns to IT department. But I have not filed any AOC 4 & MGT 7, ADT 1 on MCA website till now. Now what should I do? Will there be any penalty & how much? My company is yet to start commercial operation. What is the way out to reduce / avoid the penalty? Please guide
You would have to file AOC-4, ADT-1 and MGT-7 asap with additional fees. You can visit for ROC fees on MCA portal after specifying your CIN and authorised capital amount. The fees would be calculated. Though the company is start up the compliance of annual filing and IT return is mandatory.
I want to Extend my first financial year to 18 month . My co registered dated 12th Dec 17 but I want to extend my first financial year hoti 31.03.2019
Kindly suggest
As per Section 2(41) of Companies Act 2013, the definition talks that the financial year in relation to any company or a body corporate means the period ending on the 31st day of March every year and where it has been incorporated on or after first day of January of a year the period ending on the 31st day of March of the following year in respect whereoff financial year of company or body corporate is made up.
Since your company was incorporated in December 2017, you cannot extend the first financial year to 31.03.2019.
I have formed an OPC in January, 2016, and I have not maintained any compliance or filed return till date. Can you guide me in this regards.
First of all get the financial statements audited from Chartered Accountant, record the minutes of board meeting for the financial year (starting from January 2016 till 31.03.2017) hold Annual general meeting till 30.09.2017. file AOC-4, ADT-1 form, MGT-7 with ROC with additional fees. Repeat the same process for the financial year 01.04.2017 to 31.03.2018 and for further financial years.
Hello mam! Actually the thing is when i was filing Form MGT-7 For an OPC, I was not able to choose the option – “whether AGM was held or not”.However i was able to give the final- “check form “option . But while filing AOC4, i was able to fill the above option of AGM. Howcome this can happen? can u pls help me in this regard mam?
While filling up e-form AOC-4, by Company law Rule, AGM is not to be held every year, only audited financial statements shall be filed with ROC every year through e-form AOC-4. Therefore you have not seen any option of selecting AGM in e-form AOC-4.
Hello Ma’am
I have a Query regarding Holding of Board Meeting.
Say,we have an OPC with One Director ..It Implies ,OPC is exempt from Conducting Board Meetings in Each Half of Calendar Year.Usually Financials get Signed in Board Meeting and the same be Adopted in AGM.Since,OPC is Exempt from holding Board Meeting,now where can i get the Finacials Signed
Do i need to hold Board Meeting once availing Exemption to get the Financials Signed??
Financial statement shall be signed in board meeting. OPC should show two board meetings in calender year.
How to increase share capital in OPC ? and can we hold egm in OPC.
Yes OPC shall hold EGM to increase authorised capital and file SH-7 form with ROC within 30 days from date of holding of EGM.
can u provide audit report format for opc
Audit Report format required for OPC shall be similar as per private limited company.
I have read somewhere that the due date for filing first AOC-4 in case of OPC is 31st December. After that next year onward it is within 180 days from the end of the financial year. Is it correct?
OPC private limited filing of AOC-4 is within 180 days from close if financial year.
Hi Meenaji,
Your are doing an amazing job by writing blogs and even replying to all the queries diligently.
My query to you was, I am an accountant of a one person company with one director. The company was incorporated in Jan 2018. Can i have the first financials for 15 months period ie as on 31.03.2019. What are the compliances I need to follow for the one person company
Thank you for comment. You can take advantage of having 15 months accounts if Income tax return have not been filed for 31.03.2018.
opc incorporated on 17 feb 2017 . what is the due date for filling for financial statement.
Due date was 30.09.2017.
what is the first financial year for the OPC??
The first financial year will be immediate after incorporation
Due date will be 30.09.2018
Yes
Is it necessary for LLP to file it’s annual compliance first (form 11 & 8) before applying for strike off of name vide form 24. Rule 37 of LLP Rules 2009 is not clear in this regard.
As per Notification dated 16/05/2017, RULE 37 is amended.As long as LLP shows any business activity it is required to file form 11 and 8 before filing form 24.
We had filed LLP Form 24 (2 cases) for closure on 30/04/2015. Out of which one got struck-off and the other came form resubmission, both in the year 2018. While resubmission the system flashes an error stating “annual return and balance sheet not filed for 2016”. Once the form is filed for closure is it mandatory to continue to file the returns until it gets struck off?
Before closure of LLP, annual compliance such as filing of form 11 and 8 is mandatory. So as per re submission query you need to file them.
For your second question, it is not required to file compliance after closure and getting strike off certificate from ROC.
Hi,
Is it necessary to appoint auditor for opc within 30 days of incorporation and submit adt1?
What is tge govt fees for adt1?
If i fail to submit with in 30 days then what would be the panalty?
As per Company law, ADT-1 needs to be filed within 30 days of holding of First Annual General meeting. After incorporation, every company shall be required to appoint CA for audit purpose but filing of ADT-1 after holding of first Board meeting is not compulsory. This is my opinion but from CA to CA you may find difference of opinion.
Hello Ma’am,
I just want to confirm that my OPC was incorporated in 10th October, 2017, and F.Y will be clause in 31st March, 2018 so what will be the date of AGM?
As per Company Law, OPC shall require to file Financial statements and annual return within 180 days from end of financial year, accordingly you need to hold AGM.
Hi Meenal ma’am
First of all, i would like to say . ur blog and reply help hundreds of people who are naive into any business. Have answer to question , whose answer are not with any one.
Ma’am our company is OPC with 1 director. is it mandatory to hire CS & CA . And file compliances thru any agent.
It is advisable to take help of CS and also for filing MGT-7 you shall need certification of CS.
1) While filing Form MGT-7, what date should be given for AGM as the date in the month of September is showing error.
2) My OPC was incorporated in the month of October, 2017. I have to appoint Auditor for 5 yrs in AGM. How to fill the Form.
AOC-4 and MGT-7 ADT-1 is to be filed within 180 days from close of first financial year. Accordingly, OPC has to decide the date of signing of balance sheet and first AGM. Yes OPC has to appoint Statutory auditor in first AGM and file ADT-1 form for five accounting period.
Dear Mam
Is it mandatory to appoint auditor (C/S or CA) for OPC or even for Private limited, and what are mandatory compliance for both OPC and for Private limited
It is mandatory to appoint auditor for OPC as well as for Pvt. ltd. company as per Section 139 of Companies Act 2013. Please read mandatory compliance for OPC and Pvt. ltd on my blog.
Madam,
opc company incorporated on 15/02/2016, and books closed on 31/03/2017.
AGM conducted on 18/11/2017 and adt-1 already filed. Now my query is if we file aoc-4 and mgt-7 what might be fees. someone told that 30th sept 2017 is the due date for filing opc annual returns, if so what about the agm conducted on 18th nov 2017. is it procedurally correct.. Please gudie me.
It is actually default that OPC Annual general meeting shown not of September month but of November month. You cannot now revise the form.
I am planning to incorporate OPC in December 2017. Have I to file Annual returns for this financial year also?
Any filing related to OPC shall be filed after incorporation and not before.
Dear Madam,
What is the procedure if casual vacany for auditor has been arise in opc? as OPC HAS BEEN EXPEMTED FROM HOLDING EGM . Whether to appoint auditor in BM
Casual vacancy of auditor shall be filled up by holding Extra ordinary general meeting within 3 months from holding of Board meeting. All provisions as faar as auditor is concerned is applicable to OPC Pvt. Ltd.
Dear mam,
I have a LLP formation in 6 jan 2017, but yet business is not started, but current account is open and yet annual return is not filing and account report is also not filing ,
could you tell me this LLP is under penalty or its a regular filing also sugguest how much fee require for return
Please check filing of Form 3.After incorporation of LLP, form 3 is to be filed with ROC within 30 days of incorporation Otherwise there will be penalty. You can file annual return and balance sheet after 31.03.2018.
My OPC was incorporated in Sep-2014, and has not conducted any business, infact even bank account is not opened. Do I still need to file the returns from the date of inception, and what penalties are liable to be levied. I am the sole director of the OPC.
Yes as per Company law, every private limited company shall be required to file Financial statements every year. For ROC fees calculation, please visit http://www.mca.gov.in site and check through calculate fees.
Excellent work Meenal ji. I guess I too start blog on Engineering similar to yours. Request you to help me understand the following:
I incorporated OPC on 17.04.2017 with single director –
(i) What can be last date of holding first meeting (board of director) and first AGM
(ii) Last date for filing ADT-1, AOC-4 and MGT-7
(iii) I still have started earling anything, do I still have to file MGT-7. Actually I have not yet opened bank account also.
Appreciate your advise on the above.
Thank you for comment. Please read process of filing forms with ROC on my blog under section annual filing form of OPC. I have given detail explanation.
Thanks you so much mam for this article. It is really helpful for knowledge gaining.
Thanks!!
Is a CS necessary for filing ROC for a OPC?
Yes for MGT-7 (Annual return) CS certification is compulsory. for AOC-4 and ADT-1 also CS certification shall be required