Basic Facts on OPC (PVT) Compliance
The term compliance describes the ability to comply with orders, set of rules, or requests.
An OPC is a hybrid form of a sole proprietorship and a private limited company.
OPC Companies need RoC compliance. The annual compliance requirement applies regardless of turnover or capital.
All One-person companies must file annual returns and income tax returns. After Company Registration, many compliances must be met.
The liability of the member in an OPC is limited to the extent of their shareholding in the company. Personal assets are generally not at risk in case of business losses or liabilities.
One person company allows a single person to form a company with limited liability, separating personal assets from the business’s liabilities.