Annual Compliance Guide for One-Person Companies (OPCs)

A One-Person Company (OPC), as defined under Section 2(62) of the Companies Act, 2013, allows a single individual to operate with limited liability and a distinct legal identity. OPCs must meet annual compliance requirements, including filing financial statements, annual returns, income tax returns, and maintaining statutory records. Non-compliance can lead to significant penalties and legal issues. Adhering to these requirements ensures legal standing, credibility, and smooth operations.