What are the hidden yearly costs of a one person company (OPC) in India?

What are the hidden yearly costs of a one person company (OPC) in India?

Information 01.09.2017   0 Comments   675  Add to Reading List

Hi,

Incorporation of an OPC may roughly start from 10,999 INR depending on your capital requirements and state where your registered office is to be situated.

Other general Compliance's would include:

ROC Compliance's:

  • Auditor Appointment(Form ADT 1)
  • Filing of your audited financial statements(Form AOC4)
  • Filing your Annual Returns(Form MGT7)

Income Tax Filings & Tax Audit Applicability:

  • File Income Tax Returns (ITR VI)
  • Get Tax Audit Done if your Turnover for the PY exceeds 2 Crore*
  • Computation of Advance Tax & payment of same if applicable

Book Keeping: Mandatory

Other Filings depending on your registrations & type of business:

  • VAT Filing
  • Service Tax Filings
  • TDS/TCS Filings
  • Filing of resolutions(MGT 14) if you have passed any

Such compliance's can start from 5,999 INR

Note: The mentioned costs are from the lower side and may change depending on your business & transactions.


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