I have registered an OPC Pvt Ltd company this February of 2016. Recently, I received an email from the company which I hired for registration process that I needed to complete some ROC and other compliances for my company. But here's the deal. Right now my product is in beta testing, so I do not have any paying customers. I do have PAN and TAN for my OPC company but I have not opened any bank account yet. I went to the mca.gov site and few other sites to find out what compliances does an OPC have to carry out.


My question is, since my company is registered just 3-4 months back, do I need to go for the ROC compliances right away? Also since the company does not have any income, how do I perform audits, taxes and tax returns.

I am confused about this. Any advice or help will be much appreciated.

Posted 4 years, 6 months ago by Neeraj Jadhav

1.As far as the compliance related with the ROC you have to comply with all the legal complaince otherwise penalty may be imposed on your company

2. If u r Company is Incorporated on or after 1st January 2016 then ur year will be end on 31.03.2017 it means u have to prepare the Financial Statement ended on 31.03.2017 and not 31.03.2016

3. the matter with taxation is also very simple if the turnover of your company is over 1cr then Tax Audit is compulsory.

Posted 4 years, 6 months ago by CA Tanay Jindal

Hi Neeraj,

CA Tanay is right. You need to file only IT return for the year ended March 2016. Rest all formalities will be taken care next year, since you can choose first financial year upto 15 months.

Posted 4 years, 6 months ago by CA Pulkit Sharma

Your Reply:

You need to be logged in to reply.