Home / Services We help you in creating a strong foundation of your business View More Employee Stock Option Plan     Retain your best talent by putting their skin in the game – offer them an ESOP now! Introduction As a fresh entrepreneur, you may have a high-value idea, but you might be some ways off from being able to offer a high-value salary for the best talent in the pool. One of the ways to entice fresh talent and retain the budding ones in your company is by way of an Employee Stock Options Plan (ESOP), which motivates employees as they personally profit from the growth of their organization. Under ESOPs, employees are motivated for the growth of your company through the allocation of shares, often at no cost, but in exchange for the employee’s services. Going through the steps of an ESOP is often a complex process, so leave the procedural hassles to us by signing up for our ESOP service, so that you may focus your energies on your company’s management! Get the best proposal for ESOP or request a call back with our top-rated Experts with a simple sign up with us! Features of the ESOP Service Our business, financial and legal experts will help you – Structure the form of plan that you want to implement, reflecting your unique requirements. Correctly value your company. Draft the grant of share options and the agreement for the same such as clauses on vested ESOPs, Exercise price and period, etc. Draft all other necessary paperwork required for secretarial or compliance reasons. Maintain ESOP register in E from SH- 6.   Advantages of ESOPs Here are some potential advantages of ESOPs An incentive for new talent: You may not be able to give employees a high-value salary right now, but you can make them invested in lifting off the company by giving them a stake in its value. Build Motivation: An ESOP motivates employees through a simple incentive – the better off the company, the more valuable the stocks that the employees own – It’s a win-win. Retain talent: You may retain employees for specified periods of time as defined through the vesting period of the ESOP. Registration Process Registration Process eStartIndia will help you to make the best Employee Stock Option plan from the comfort of your home, offering you services that are very specialized and tailored for each individual. Get a Free Consultation for ESOP with Our Top Rated Experts with a simple registration. Click here to read more about “Convert One Person Company into Private Limited Company“ Step 1 You sign up for our Employee stock option plan Services, and we put you in touch with our business, financial and legal experts, who engage you in consultations in order to understand your needs Step 2 Post consultations, our team prepares an advisory recommending the documentation and steps required for implementing a plan that you find attractive Step 3 Once a plan is mapped out, our team of experts are left with the worries of managing the implementation of the ESOP, while you are left free to manage your team. Sign up now!   FAQs What does Vesting means? Vesting refers to the amount of time an employee must work for being entitled to get the benefit under the ESOP Scheme.   What is an Exercise Period? Exercise period is the period within which an employee can exercise his rights of vested ESOPs.   What does exercise and exercise price means? Exercise means the event through which an employee exercise his rights to purchase equity shares under the Employee stock option plan Scheme of the Company at the pre-determined price and such pre-determined price is called Exercise Price. Related Services Employee Stock Option Plan Read More OPC to Private Limited Read More Public Limited to Private Limited Read More Private Limited to OPC Read More Load More

Home / Services We help you in creating a strong foundation of your business View More Convert a One Person Company to a Private Limited Company     Convert a  One Person Company to a Private Limited Company, you can raise more capital by releasing more shares! Introduction In India, the share transferability of a private limited company is limited to 50 shareholders, and they are restricted from freely trading their shares with the general public. However, a One Person Company is run by a sole owner, with the added benefit of limited liability to the said owner and other shareholders. The conversion of an OPC to a Private Limited Company is mandatory when the company’s paid-up share capital exceeds 50 lakhs or its average annual turnover over three years is equal to or exceeds 2 crores. Sign up for our Conversion from One Person Company to Private Company Service today, so that your company can transform itself into a Private Company without any regular hassles. With our team working for you, you can focus on the impending transition, and acquiring funding for the same. Sign up today! Distinctions between Private and One Person Companies One Person Companies exist as a halfway point between Sole Proprietorships and Private Limited Companies. Private Company One Person Company Minimum members-2 Minimum members-1 Minimum Directors-2 Minimum Directors-1 No requirement of appointing a nominee A nominee must be appointed where there is only one member Foreigners may become members of a Private Company No Foreigners may become members of one-person company   Required Documents For Convert a One Person Company to a Private Limited Company The documents required in order to effect a change from a One Person Company to a Private Limited Company are – Altered memorandum and articles of association. Notice of Extra-Ordinary General Meeting (EGM) with the approval of Directors for the conversion of a One Person Company to a Private Limited Company. Special resolution for conversion of the company into a Private Limited Company. Form INC 6 – Application for the conversion of One Person Company to a Private Limited Company. Form MGT 14. Minutes of the Meeting where approval was given for conversion. In the event that the conversion is mandatory, form INC 5 may be required as well. Sign up for our service today, so that our experts can provide you with a complete list of all necessary documentation, and process your application for you! Registration Process Registration Procedure Of Convert a One Person Company to a Private Limited Company eStartIndia will help you to Convert a One Person Company to a Private Limited Company from the comfort of your home, offering you services that are very specialized and tailored for each individual. Get a Free Consultation for Company conversion with Our Top Rated Experts with a simple registration. Step 1 You sign up for our Conversion from Public Limited Company to Private Limited Company service, and our financial & legal experts engage in consultations with you in order to collect the necessary information and work on the same Step 2 Post consultations, our team shares a draft of required actions with you, preparing the necessary documentation such as the Board Resolutions Step 3 Once the Resolutions are passed and all necessary documentation is compiled, our legal experts take care of the filing with ROC   FAQs What is the time limit of filing form INC-? Form INC-5 shall be filed within sixty days of exceeding threshold limits.   What is the time limit of filing form INC-? Form INC-6 shall be filed within 30 days in case of voluntary conversion and within six months of mandatory conversion.   What is the condition precedent for conversion of OPC into Private Company?  In case of voluntary conversion: (i) Expiry of two years after incorporation of OPC.        In case of mandatory conversion: When paid up share capital exceeds Rs. 50 lakhs and the yearly turnover of immediately previous three consecutive financial years is more than 2 Crores rupees. Such company has to compulsorily convert to a private or public limited company within a period of 6 months from the date when the paid-up share capital exceeded 50 lakhs rupees or the last date of the related period in which the average annual turnover surpasses 2 Crore rupees. Related Services OPC to Private Limited Read More Public Limited to Private Limited Read More Private Limited to OPC Read More Private Limited to Public Limited Read More Load More

Home / Services We help you in creating a strong foundation of your business View More Convert a Public Limited Company to Private Limited Company     Convert a Public Limited Company to a Private Limited Company, you can consolidate the ownership of your company from the general public back into the hands of a selected few! Introduction In India, the share transferability of a private limited company is limited to 50 shareholders, and they are restricted from freely trading their shares with the general public. However, a Public Limited Company does not suffer such limitations and its shares may be freely traded amongst the general public. Sign up to Convert a Public Limited Company to a Private Limited Company Service today, so that your company can shed the liabilities & compliances of a Public Company and emerge as a Private Company. With our team working for you, you can focus on the impending transition, and acquiring funding for the same. Sign up today!  Distinctions between Private Limited and Public Limited Companies Private Companies Public Companies Transfer of shares to only a few investors May offer shares to the general public Cannot be listed Can be listed Lower Compliance requirements Higher Compliance requirements   Procedure Of Converting Public Limited Company To Private Limited Company Convene and hold Board meetings and pass a resolution for conversion of Public Company to Private Company. Draft Notice of EGM, Convene EGM and pass a special resolution. File E form MGT 14 with ROC within 30 days. File E-form RD-1.   Necessary Documentation For Converting Public Limited Company To Private Limited Company Copy of MOA and AOA. Board and General Meeting Resolutions. Minutes of General Meeting. Attendance sheet. Affidavit. Newspaper advertisement. Registration Process Registration Procedure For Converting Public Limited Company To Private Limited Company eStartIndia will help you to Convert a Public Limited Company to Private Limited Company from the comfort of your home, offering you services that are very specialized and tailored for each individual. Get a Free Consultation for Company conversion with Our Top Rated Experts with a simple registration. Step 1 You sign up for our Conversion from Public Limited Company to Private Limited Company service, and our financial & legal experts engage in consultations with you in order to collect the necessary information and work on the same Step 2 Post consultations, our team shares a draft of required actions with you, preparing the necessary documentation such as the Board Resolutions Step 3 Once the Resolutions are passed and all necessary documentation is compiled, our legal experts take care of the filing with the MCA. FAQs Why E form RD- is filed? Form RD-1 is filed with the Regional Director for approval of the `conversion of Public company to Private Company.   Is there any time limit for filing form RD-? Yes, Form RD-1 is filed within 60 days of the passing of the special resolution.   Is there any format of newspaper advertisement? Yes, Newspaper advertisement is given in E form INC -25 A in at least once in a vernacular newspaper in the principal vernacular language of the district in which the registered office of the company is situated, and at least once in English language in an English newspaper circulating in that district. (Widely Circulated in the State in which the registered office of the company is situated) Related Services Public Limited to Private Limited Read More Private Limited to OPC Read More Private Limited to Public Limited Read More Sole Proprietorship to Private Limited Read More Load More

Home / Services We help you in creating a strong foundation of your business View More Convert a Private Limited Company to a One Person Company     By convert a private limited company to a One Person company, you can roll back the ownership of your company that you gave up! Introduction In India, the share transferability of a private limited company is limited to 50 shareholders, and they are restricted from freely trading their shares with the general public. However, a One Person Company is run by a sole owner, with the added benefit of limited liability to the said owner and other shareholders. Sign up for our Conversion from Private to One Person Company Service today, so that your company can shed the restrictive cocoons of Private Company regulations and emerge as a new One Person Company. With our team working for you, you can focus on the impending transition, and acquiring funding for the same. Sign up today! The distinction between Private and One Person Companies One Person Companies exist as a halfway point between Sole Proprietorships and Private Limited Companies. Private Limited Company One Person Company Minimum members-2 Minimum members-1 Minimum Directors-2 Minimum Directors-1 No requirement of appointing a nominee A nominee must be appointed where there is only one member Foreigners may become  members of a Private Limited Company No Foreigners may become members of  One Person Companies   Required Documents For Convert Private LTD To One Person Company The documents required in order to effect a change from a Private to a Public Company are – Altered memorandum and articles of association. Notice of Extra-Ordinary General Meeting (EGM) with the approval of Directors for the conversion of a Private Limited Company to One Person Company. Special resolution for conversion of the company into a One Person Company. Form MGT 14. Form INC 6 – Application for the conversion of Private Limited to One Person Company. Minutes of the Meeting where approval was given for conversion. List of Members and Creditors. NOC from Members and Creditors. Affidavit by Directors. Latest Audited B/S and P&L a/c. Sign up for our service today, so that our experts can provide you with a complete list of all necessary documentation, and process your application for you! Registration Process Registration Procedure For Convert a Private Limited Company to a One Person Company eStartIndia will help you to Convert a Private Limited Company to a One Person Company from the comfort of your home, offering you services that are very specialized and tailored for each individual. Get a Free Consultation for Company conversion with Our Top Rated Experts with a simple registration. Click here to read more about “Private Limited to Public Limited” Step 1 You sign up for our Conversion from Private Limited Company to Public Limited Company service, and our financial & legal experts engage in consultations with you in order to collect the necessary information and work on the same Step 2 Post consultations, our team shares a draft of required actions with you, preparing the necessary documentation such as the Board Resolutions Step 3 Once the Resolutions are passed and all necessary documentation is compiled, our legal experts take care of the filing with the ROC FAQs Who is eligible to act as a member of OPC? Only a natural person who is an Indian citizen and resident in India shall be eligible to act as a member and nominee of an OPC.   A person can be a member in how many OPC? A person can be a member of only one OPC.   What is the time limit of filing form INC-?  Form INC-6 shall be filed within 30 days in case of voluntary conversion and within six months of mandatory conversion.   What if a member of an OPC becomes a member in another OPC by virtue of being a nominee in that other OPC? Where a natural person, being member in One Person Company becomes a member in another OPC by virtue of his being a nominee in that OPC, then such person shall meet the eligibility criteria of being a member in only one OPC within a period of one hundred and eighty days, i.e., he/she shall withdraw his membership from either of the OPCs within one hundred and eighty days. Related Services Private Limited to OPC Read More Private Limited to Public Limited Read More Sole Proprietorship to Private Limited Read More Partnership to LLP Read More Load More

Home / Services We help you in creating a strong foundation of your business View More Convert a Private Limited Company to a Public Limited Company     By converting your private limited company to a public limited company, you can allow for the free transfer of shares in the market through the issuance of a prospectus! Introduction In India, the share transferability of a private limited company is limited to 50 shareholders, and they are restricted from freely trading their shares with the general public. However, a Public Limited Company does not suffer such limitations and its shares may be freely traded amongst the general public. Sign up for our Conversion from Private to Public Company Service today, so that your company can shed the restrictive cocoons of Private Company regulations and emerge as a new Public Company. With our team working for you, you can focus on the impending transition, and acquiring funding for the same. Sign up today!  Distinctions between Private and Public Limited Companies Private Companies Public Companies Transfer of shares to only a few investors May offer shares to the general public Cannot be listed Can be listed Lower Compliance requirements Higher Compliance requirements     Required Documents For Convert a Private Limited To a Public Limited The documents required in order to effect a change from a Private to a Public Company are – Altered memorandum and articles of association. Notice of Extra-Ordinary General Meeting (EGM) which was held to pass the board resolution indicating the approval of Directors for the conversion of a Private Limited Company to Public Limited Company. Special resolution for conversion of the company into a public company is to be filed with the following attachments. A certified true copy of the special resolution approving such conversion. Form INC 27 – Application for the conversion of Private Limited to Public Limited. Form MGT 14. Minutes of the Meeting where approval was given for conversion. Registration Process Registration Procedure For Convert a Private Limited to a Public Limited eStartIndia will help you to convert a Private Limited to Public Limited company from the comfort of your home, offering you services that are very specialized and tailored for each individual. Get a Free Consultation for company conversion with Our Top Rated Experts with a simple registration. Click here to read more about “Convert Partnership to LLP” Step 1 You sign up for our Conversion from Private Limited Company to Public Limited Company service, and our financial & legal experts engage in consultations with you in order to collect the necessary information and work on the same Step 2 Post consultations, our team shares a draft of required actions with you, preparing the necessary documentation such as the Board Resolutions Step 3 Once the Resolutions are passed and all necessary documentation is compiled, our legal experts take care of the filing with the ROC FAQs Is there any time limit for filing E form INC ? E form INC 27 is filed within fifteen days of the receipt of the order from the Central Government.   Are there any post conversion compliance? Yes, the Company will have to comply with the requirements of a Public Company such as Increase in no. of Directors, changes in MOA and AOA, changes in documents like PAN, changes in company’s bank account, etc. Related Services Private Limited to Public Limited Read More Sole Proprietorship to Private Limited Read More Partnership to LLP Read More XBRL Filing Read More Load More

Home / Services We help you in creating a strong foundation of your business View More Convert Sole Proprietorship to Private Limited Company     You can easily Convert Sole Proprietorship to Private Limited Company through a transfer of assets. Introduction A proprietorship company is a type of business organization where there is no legal distinction between the owner of the business and the business. The owner is in direct control of all aspects related to the business, is accountable for its functioning and completely owns its profits or losses. Sign up for our Conversion from Proprietorship to a Private Limited Company Service today, so that you can shed the liabilities & compliances of a Proprietorship and emerge as a Private Company. With our team working for you, you can focus on the impending transition, and acquiring funding for the same. Sign up today!   Advantages of a Private Company Allows for easy cooperation between a team: Through the formal transfer of shares, no problems can creep in later. Fund-raising: If your ventures require you to raise money for your business, particularly private equity funding, then you will have to register as a company and issue shares in return for funding. Limiting Your Liability: By creating a company, you can limit your liabilities, i.e. you will not be liable for the debts and obligations of the company. As a proprietor, you have unlimited liability for all debts and obligations of the company. This means that your personal assets can be attached to recover dues owed by your business.   Required Documents The documents required in order to effect a change from a Proprietorship to a Private Company are – Digital Signature Certificate (DSC) of all directors. Director Identification Number (DIN) of all directors. Name approval from ROC. Altered Memorandum and Articles of Association (MOA/AOA). SPICE i.e  E form INC 32.     Registration Process eStartIndia will help you to register to Convert Sole Proprietorship to Private Limited Company from the comfort of your home, offering you services that are very specialized and tailored for each individual. Get a free Consultation for conversion with Our Top Rated Experts with a simple registration. Click here to read more about “Convert Partnership to LLP” Step 1 You sign up for our Proprietorship to a Private Limited Company, and our financial & legal experts engage in consultations with you in order to collect the necessary information and work on the same Step 2 Post consultations, our team shares a draft of required actions with you, preparing the necessary documentation Step 3 Once all the necessary documentation is compiled, our legal experts take care of the filing with the MCA FAQs Can I continue running the sole proprietorship post the creation of the company? You can only run the proprietorship for 3 months after the creation of the company.   Can the licenses and permits from a sole proprietorship be transferred to the new private limited company? No. All licenses and permits must be re-applied for by the Private Limited Company following the necessary procedures as set by the concerned authorities. Related Services Sole Proprietorship to Private Limited Read More Partnership to LLP Read More XBRL Filing Read More eForm INC-20A Read More Load More

Home / Services We help you in creating a strong foundation of your business View More Convert Partnership to LLPs     An advanced business vehicle, an LLP limits the liability, unlike the conventional Partnership firm. Introduction A Limited Liability Partnership is a form of business organization where the constituting partners of the firm each have limited liabilities toward the firm, thus exhibiting features of both classic partnerships and companies. In LLPs, unlike in a partnership, no partner can generally be held liable for the misconduct or negligence of another partner. Furthermore, the excessive regulatory regime of Partnerships has not been carried into LLPs. LLPs can also avail certain tax benefits and are exempt from audits below certain capital limits.   Advantages of LLPs over Partnerships Some potential benefits of an LLP over a Partnership are – LLPs have a separate entity than its partners. LLPs offer limited liability for its partners, as opposed to the liability under conventional Partnerships. LLPs have no restrictions as to the maximum number of partners in the firm, while Partnerships can only have up to 50 partners. Documents required for convert Partnership to LLPs Designated partner identification number (DPIN) or Director Identification Number (DIN) of all partners. Digital Signature Certificates for the LLP. LLP 1 –Addition of “LLP” to the existing firm name. Drafting of LLP agreement. LLP E- Form-17 – Application of conversion. Statement of the consent of Partners to conversion. List of all creditors along with the consent to conversion. Statement of assets and liabilities of the company (duly certified by a CA). Approval from any other body/authority as may be required. Approval of the governing council (in the case of professional firms). NOC from Income Tax authorities. Financial statements of the Partnership Company. Particulars of any court proceedings. Rejection letter of ROC in case of an earlier conversion application. Registration Process eStartIndia will help you to Convert a partnership to LLP from the comfort of your home, offering you services that are very specialized and tailored for each individual. Get a Free Consultation for the Convert of partnership to LLP with Our Top Rated Experts with a simple registration. Step 1 You sign up for our Conversion from Partnership to a LLP service, and our business & legal experts engage in consultations with you in order to collect the necessary information and work on the same Step 2 Post consultations, our team shares a draft of required actions with you, preparing the necessary documentation such as the new LLP agreement Step 3 Once the necessary documentation is compiled, our legal experts take care of the filing with the ROC FAQs When does the Firm become a LLP? After the procedure for conversion has been completed, and the Registrar issues a Certificate of Registration, the partnership firm becomes a Limited Liability Partnership. Are the assets of the partnership firm automatically transfer to the new LLP? No. The new LLP must seek transfer of the assets such as licenses, permits, registrations, properties, etc. Related Services Partnership to LLP Read More XBRL Filing Read More eForm INC-20A Read More Annual Compliance Of One Person Company Read More Load More

Home / Services We help you in creating a strong foundation of your business View More XBRL Filing     XBRL(Extensible Business Reporting Language) is the language for the electronic communication of business for reporting Financial Statements that are necessary to be filed with the Registrar of Companies. XBRL assists in giving reliable and accurate data regarding financial and business data that are requisite by various government and other regulatory bodies. XBRL Filing is mandatory for running the business. Ministry of Corporate Affairs issued a Notification on 06th November 2017 in respect of explanation on obligatory applicability of XBRL Filing on particular Companies. These rules are called the Companies (Filing of Documents and Forms in Extensible Business Reporting Language), Amendment, Rules, 2017.   The Class of Companies that are required to File Financial Statements in XBRL FILING Mode: All corporations are listed with Stock Exchanges in India and their Indian Subsidiaries regardless of their capital or turnover. All corporations have paid-up share capital of Rs. 5cr and above. All corporations have a turnover of Rs. 100cr and above. All companies need to prepare their financial statements in accordance with the Companies (Indian Accounting Standards) Rules, 2015.   Benefits of XBRL FILING XBRL Filing provides benefits in the preparation, analysis, and communication of business information. It offers cost savings, greater efficiency as well as improved accuracy and reliability to all those involved in supplying or using financial data. XBRL stands for eXtensible Business Reporting Language. It is already being put to practical use in a number of nations and implementations of XBRL Filing are rising rapidly worldwide. Related section with the latest amendment on XBRL Filing The definition of XBRL is provided in Rule 2 of the corporation’s (Filing of Documents and Forms in XBRL Filing) Rules 2015. In XBRL Rules 2015 first 3 categories of applicability of XBRL Filing were the same. However, there was one more category i.e. “all corporations which were up till now covered under the Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Rules, 2011”. Therefore, a corporation that was required towards filing a financial statement in XBRL under previous rules but not falling under the applicability limit as of now. Such corporations are exempted from filing financial statements in XBRL Filing under Amendment Rules, 2017.   Legal remedies In case of failing to file the copy of the Financial Statements towards ROC within the prescribed time limit, the penalty provisions are: Company: Fine Rs.1, 000.00 for everyday till default continue but maximum Rs. 10, 00,000.00. Directors: Fine Minimum Rs. 1 Lakhs to Maximum Rs. 5 Lakhs or Imprisonment up to 6 months. CFO: Same as in the case of Directors. Authorized Director: Same as in the case of Directors.   Document Required for Registration of XBRL FILING XBRL filing is done through computer software designed and created for filing in XBRL mode. Every one of the Information like Financial Statements (Balance Sheet, Statement of profit and loss, Cash Flow Statement, Notes to Financial Statements), Directors Report, Notice of AGM, List of Top Shareholders, List of Related Parties including their PAN No is required in soft copy ( word, excel, PDF)  as information contained in these documents are included in the software. Registration Process As per the rules on the MCA portal, the XBRL filing regarding financial years beginning on or after 01.04.2014 has to be carried out using the updated C&I taxonomy. The stakeholders must make sure to use the latest taxonomy before filing AOC-4 XBRL. XBRL Filing Due Dates for FY 2018-19 Name of Form Purpose of form Due date The due date for FY 2018-19 Form AOC-4 (XBRL Filing) Filing of Annual Accounts 30 days from AGM 30th October 2019 Form AOC-4 (XBRL Filing) for IND AS-based Financial Statement Filing of Annual Accounts based on Indian Accounting Standard in XBRL mode 30 days from AGM 30th October 2019 Get free Consultation services for any registration with Our Top-skilled Experts. eStartIndia is a professional tech-based online and legal service that helps clients to simplify the procedures of XBRL filing, implementation, tax concerns, and any additional legal compliances and services related to business in India. We at eStartIndia provide meticulous assistance to the clients in correctly filing the XBRL Filing as per the rules. Step 1 You sign up for our Annual Compliance for Private Limited Company service, and our financial & legal experts engage in consultations with you in order to collect the necessary information and work on the same. Step 2 Post consultations, our team shares a draft of required actions with you, recommending changes, if required, as per your operations. Step 3 Our team then reviews this draft along with you, incorporating any necessary changes. Step 4 Once the process is done and all necessary documentation is compiled, our legal experts take care of the filing with ROC and other authorities. FAQs What is XBRL filing India? XBRL Filings: (eXtensible Business Reporting Language) is an XML-based global standard that defines and exchanges business and financial information that is transmitted and shared via the Internet.   Is XBRL filing mandatory? Yes it is mandatory for companies on which it is applicable.   What are the Benefits of XBRL? XBRL offers benefits at all stages of business reporting and analysis such as cost savings, greater efficiency, improved accuracy, reliability to all those involved in supplying or using financial data   Which category of companies is exempted from filing financial statements in XBRL? NBFC, Housing finance companies, and Companies engaged in Banking and Insurance sector are exempted from filing of financial statements in XBRL form. Related Services XBRL Filing Read More eForm INC-20A Read More Annual Compliance Of One Person Company Read More Form MSME-1 Read More Load More

Home / Services We help you in creating a strong foundation of your business View More eForm INC-20A     The eForm INC-20A (Declaration for the commencement of business) is needed to be filed according to Section 10A (1) (a) of the Companies Act, 2013 and Rule 23A of the Companies (Incorporation) Rules, 2014. As per the latest section which is being inserted after section 10 of the companies act 2013, section 10A states that an organization incorporated on or after 02/11/2018, having share capital would not begin its commerce or carry out any borrowing powers aside from if a declaration has been filed by the directors in 180 days from date of incorporation of the corporation in eform inc-20A (notified on 26/01/2019), with the Registrar of Companies that “each subscriber of the MOA has paid the value of the shares taken by him as agreed by him as per the Incorporation documents” and the form shall be verified by a Company Secretary or a Chartered Accountant or a Cost Accountant. Given that on account of a corporation pursuing objects that needed registration or approval from any sectoral regulators like the Reserve Bank of India, Securities and Exchange Board of India, and so forth., the registration or approval, as the case might be from such regulator is required to be obtained as well as attached along with the declaration.   Document Required for Registration  The declaration that every one of the subscribers towards the MOA has remitted the entire value of the shares agreed to be taken by them in the Companies Bank Account are needed to be provided in eForm inc-20A. Also, the attachments that need to be attached with the eform inc-20A are; Certificate of Incorporation (CoI). Proof of payment by subscribers for the value of shares taken by them. An individual is required to attach the Bank Account statement of Company having all credit entries for receipt of subscription money received from every one of the subscribers to MOA. For Non-Banking Financial Company (NBFC), a Certificate of Registration issued by the RBI is also needed. Registration Process The due date for the first time filing of “eForm INC-20A” is from the date of incorporation within 180 days for the corporation incorporated on or after 02//11/2018. The Requirements for Filing eForm INC-20A: The Subscribers has paid the share subscription sum towards the corporation That the corporation has obtained the regulatory approval needed to be obtained for the commencement of business for the business activities which are particularly regulated by SEBI, RBI, IRDA, etc. We at eStartIndia provide meticulous assistance to the clients incorrectly filing the eForm INC-20A as per the rules. Legal remedies The penalty when not filed the eform INC-20a is; The company is legally responsible to pay Rs. 50,000 Every officer who is in default is legally responsible for paying Rs. 1000 each day. The maximum penalty prescribed for not filing of eFORM INC-20A till the expiration of 180 days from the date of corporation formation is Rs.1 lakhs. eStartIndia is the professional tech-based online and legal services which help the clients to simplify the procedures of eForm INC-20A, implementation, tax concerns and any additional legal compliances and services related to the business in India. Get a free Consultation service for any registration with Our Top skilled Experts. Step 1 You sign up for our Annual Compliance for Private Limited Company service, and our financial & legal experts engage in consultations with you in order to collect the necessary information and work on the same. Step 2 Post consultations, our team shares a draft of required actions with you, recommending changes, if required, as per your operations. Step 3 Our team then reviews this draft along with you, incorporating any necessary changes. Step 4 Once the process is done and all necessary documentation is compiled, our legal experts take care of the filing with ROC and other authorities. FAQs A Is it mandatory to file form INC A? Yes, it is mandatory for obtaining a certificate of Commencement of Business by filing form 20A.   A Who shall file eForm INC-A? every of the corporations incorporated on or after 02//11/2018. and having a share capital towards filing the form 20A.   A Who shall not file eForm INC-A? The firms incorporated before 02//11/2018. and limited by guarantee not having share capital. What is the Consequence if form is not filed within time? Registrar of companies might initiate an action for the removal of the name of Company The corporation cannot borrow money. The corporation cannot start a business. Related Services eForm INC-20A Read More Annual Compliance Of One Person Company Read More Form MSME-1 Read More ef orm DPT-3 Read More Load More

Home / Services We help you in creating a strong foundation of your business View More Annual Compliance Of One Person Company     One Person Company (OPC) is compulsorily required to keep up compliance according to the Income Tax Act and Companies Act. Subsequently, keeping up compliance for a One Person Company mainly incorporates filing of income tax return with the Income Tax Department as well as annual return with the Ministry of Corporate Affairs. Other Compliances includes compliance with TDS regulations, GST regulations, ESI regulations, and others. The compliance prerequisite for a One Person Company will vary based on the business, state of incorporation, number of staffs and sales turnover. The Annual Compliances of One Person Company in India have covered the following compliances:  Annual Return in Form MGT 7.  Financial Statements in Form AOC-4.  Income Tax Returns in Form ITR-6. MBP-1 for Disclosure of Interest by Directors. Annual General Meeting (AGM). At least 2 Board meeting( 6 monthly each). ADT-1 for an appointment for Auditor. Event-based Annual Compliances. Annual Compliances under diverse Legal Authorities.   The Reasons For Annual Compliance of One Person Company Income tax and Annual returns Income tax filing an annual return filing should be completed by every One Person Company before 30th September of each financial year. GST Filing Under the GST regime proposed towards being incorporated in 2017, one person companies having GST registration will be required towards filing monthly, quarterly and annual GST returns. ESI Return ESI return should be filed through every one person companies having ESI registration. ESI registration is necessary once the one person company employs over 10 staffs. TDS Filing Quarterly TDS returns should be filed by one person companies that have TAN and are necessary to deduct tax at source as per TDS rules. Related section with the latest amendment Compliance with Companies Act 2013 Section 173(5) requires at least one board meeting in each half of the calendar year. The gap two meetings must not be less than 90 days. However, if the corporation has only one director then such meeting prerequisite does not emerge. OPC is required to hold its annual general meeting as required under section 139 (1) towards appointing Statutory Auditor. Such auditor must hold office from the conclusion of first AGM to the conclusion of 6th AGM. Financial Statements of One Person Company under Companies Act 2013 Section 137(1) of Companies Act 2013 needs the corporation towards adopting its financial statements in a board meeting and filed within 180 days from 31st March of every year with the register of corporations. Cash flow statement is not a compulsory part of financial statements for a one-person company. The annual return of a one-person company should be signed by the company secretary, or where there is no corporation by the director of the company according to section 92 of Companies Act 2013. Compliance under Income Tax Act 1961 One person company is necessary to file their income tax return in Form ITR 6 for the financial year on or before 30th September of the following financial year with the tax department. In case of any extension of the time limit, it is to be filed within that time limit. Also to the annual tax return filing, every OPC is requisite to get their accounts audited under income tax act 1961 if turnover surpasses the limit as specified in section 44AB. A one-person company might also need complying with TDS regulations, GST regulations, PF and ESI regulations and others based on the requirements.   Document Required for Registration of Annual Compliance of One Person Company MGT 7 Filing: CIN/PAN. List of main business activities. Details of shares and shareholding. List of debentures and loans. Details of other securities held by the company. AOC 4 Filing: Balance Sheet. Profit and Loss Account. Director’s Report. Auditor’s Report. Notice of Annual General Meeting. ITR 6 Filing: Purchase and Sale invoice. Expense invoice. PAN of the company. Copy of TDS Challans/deposits. Copy of VAT/Service Tax Returns. Bank Statement for the year. Credit Card Statement. Registration Process A procedure for online application online filing for AOC4 and MGT7 are The first step is to visit the MCA website.  Download the E form (above-mentioned form no).  Then you have to fill out the form.  Then you have to click on the upload E form button.  Then you have to upload your E form.  After uploading of E form, the system will show you a fee to be paid.  You can pay your fee online. Click here to read more about “Annual Compliance For Foreign Subsidiary” The financial statement of OPC is to be filed within 180 days from 31st March of the financial year as well as an annual return within 60 days from the completion of AGM. We at eStartIndia provide meticulous assistance to the clients incorrectly filing the Annual compliance of One Person Company as per the rules. eStartIndia is the professional tech-based online and legal services which help the clients to simplify the procedures of Annual compliance of One Person Company, implementation, tax concerns and any additional legal compliances and services related to the business in India. Step 1 You sign up for our Annual Compliance for Private Limited Company service, and our financial & legal experts engage in consultations with you in order to collect the necessary information and work on the same. Step 2 Post consultations, our team shares a draft of required actions with you, recommending changes, if required, as per your operations. Step 3 Our team then reviews this draft along with you, incorporating any necessary changes. Step 4 Once the process is done and all necessary documentation is compiled, our legal experts take care of the filing with ROC and other authorities. FAQs Who is eligible to act as a member of an OPC? Only a natural person who is an Indian citizen and resident in India would be eligible to act as a member and nominee of an OPC.   Who cannot form a One Person Company? A minor shall not eligible becoming a member. Foreign citizen. Non-Resident. Any person incapacitated by contract. A person can be member in how many OPCs? A person could be a member of only one OPC. Can I start more than one OPC at a