OPC Compliance: What a One Person Company Must File Every Year
AOC-4, MGT-7A, Audit, ITR-6 & Director KYC

A One Person Company is a company under the Companies Act, 2013 with a single member, and legally, most of the provisions that apply to a private limited company apply to it as well. OPC compliance is the ongoing obligation that flows from that status: maintaining proper books, getting them audited, filing the financial statements and annual return with the Registrar, filing an income tax return, and keeping the director and the company records current. These are mandatory for every OPC, whatever its size and whether or not it did any business during the year.

Where an OPC differs from a larger company is in a handful of relaxations designed for a one-person structure. It does not hold an annual general meeting, it files a simplified annual return, and its financial statement filing runs on its own timeline. Understanding both sides — the obligations that are the same and the reliefs that are specific to an OPC — is what OPC compliance is about.

N D Savla & Associates is a firm of Chartered Accountants and Company Secretaries in Mumbai that manages the full company compliance cycle for One Person Companies, from the audit and the annual filings to the tax return and the director's KYC. The focus is practical: knowing the OPC's specific forms and timelines, and keeping every one of them on schedule so the company stays active and penalty-free.

Two obligations sit alongside the RoC filings and are just as mandatory. The first is the statutory audit: every OPC must appoint an auditor and have its accounts audited under the Companies Act, regardless of turnover, and the auditor's report feeds into the AOC-4 filing. The first auditor is appointed within 30 days of incorporation.

The second is the income tax return: an OPC is taxed as a company and files ITR-6, and this is required even in a year of no income or a loss. A tax audit under Section 44AB applies additionally where turnover crosses the prescribed limit. In short, an OPC carries both a company-law audit and a corporate tax filing every year, without exception.

An OPC is meant for a business at a certain scale, and the law once forced a conversion when it grew beyond that. Those thresholds have since been relaxed. Under the rules as amended in 2021, an OPC is no longer required to convert into a private limited company merely because it crosses a paid-up capital or turnover figure; the earlier mandatory conversion on exceeding Rs 50 lakh of paid-up capital or Rs 2 crore of average turnover was removed, and an OPC may now grow without that automatic trigger. A conversion, whether voluntary or otherwise, is still available and is sometimes the right commercial choice, but it is worth knowing the current position so a decision is made deliberately rather than under a rule that no longer applies.

An OPC is often a solo founder wearing every hat, and its compliance is easy to let slip precisely because it looks simple — until a Rs 100-a-day penalty on a late AOC-4, or a deactivated DIN, brings it into focus. We take the whole thing off the founder's plate: we build the compliance calendar, prepare the accounts, run the audit, file AOC-4 and MGT-7A on their OPC-specific timelines, file the ITR-6, and keep the director's KYC and the statutory records current.

Because we handle it as a single managed cycle rather than form by form, nothing falls through, and the company stays active and clean. For a solo entrepreneur running an OPC, this means corporate compliance handled quietly in the background, correctly and on time.