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OPC Registration In Bangalore

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A OPC Registration In Bangalore is a kind of organization which is controlled under the Companies Act, 2013. The entity can be assimilated even with a single member which is henceforth called OPC. It couples most of the advantages of the company and the sole proprietorship form of business. OPC is composed as a private limited company.

Only a natural born Indian Citizen who is a resident of India can form an OPC. If the company gains a certain turnover level, the OPC has to get transformed into a private limited company. The OPC offers a greater opportunity for entrepreneurs (start-ups) to exercise as a legal entity. The liability of the investor is defined only to the expansion of the face value of shares owned by them and improves the business credibility.

Here, a single person has the entire control of the business and there are no shareholders. The single person can act in the capacity of a shareholder as well as a director.

Taxation rules for OPC Company

OPC is liable to pay tax at a flat rate of 30% + 2% education cess & 1% sec higher edu- cess.

OPC is liable to pay tax at a flat rate of 30% + 2% education cess & 1% sec higher edu- cess.

TDS (Tax Deducted at Source) needed to be filed on a quarterly basis by noting the TAN.

TAN (Tax deduction Acc Num) deducting tax is mandatory if the company has employees.

Getting an ESI registration is compulsory by the law if the employee count is more than 10.

It is compulsory to file Income Tax Return in One Person Company.

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