One Person Company (OPC) is a popular business structure in India for solo entrepreneurs. While it offers the benefits of a Private Limited Company with limited liability and a separate legal identity, OPCs also need to meet certain annual legal obligations. If you own an OPC in Kochi, understanding the yearly compliance requirements is crucial to avoid penalties and maintain smooth business operations.
This guide explains the key annual compliances for OPCs in Kochi for the financial year 2024–2025.
Why Is Annual Compliance Important for OPCs?
- Legal recognition & good standing
- Avoid penalties from the MCA (Ministry of Corporate Affairs)
- Helps build trust with banks, vendors, and investors
- Required for applying for loans or tenders
List of Annual Compliances for OPC in Kochi
Here are the major compliances an OPC must fulfill:
1. Annual Return (Form MGT-7A)
- What: Details of the company, its shareholding, and management.
- Due Date: Within 60 days from the conclusion of the AGM (or 180 days from the end of the financial year if AGM is not held).
- Filed with: Registrar of Companies (ROC), Kerala.
2. Financial Statements (Form AOC-4)
- What: Submission of audited financials like balance sheet, profit & loss account, cash flow statement, etc.
- Due Date: Within 180 days from the end of the financial year.
- Requirement: Financial statements must be signed by the director and the auditor.
3. Income Tax Return (ITR-6)
- What: Annual income tax filing for the company.
- Due Date: Typically by October 31st if the audit is applicable.
- Filed with: Income Tax Department of India.
4. Statutory Audit of Accounts
- What: Compulsory for all OPCs regardless of turnover.
- Conducted by: A Chartered Accountant.
- When: Before filing financial statements with the ROC and ITR.
5. Board Meeting
- What: OPCs are exempt from holding board meetings if there is only one director.
- Note: If more than one director is appointed, at least one meeting must be held every six months.
6. Director’s Report
- What: Prepared by the sole director covering company affairs, financial position, and other declarations.
- Filed with: Along with AOC-4.
Additional Compliances (if applicable)
Depending on the nature of business and turnover, the following may also apply:
- GST Return Filing
- TDS Return Filing
- ESI/PF Returns (if employees are hired)
- FSSAI Renewal (for food businesses)
- Import-Export Code (IEC) Compliance (for trading companies)
Compliance Calendar Snapshot
Compliance
Due Date
AOC-4 (Financial Statements)
27th September 2025 (tentative)
MGT-7A (Annual Return)
28th November 2025 (tentative)
Income Tax Return (ITR-6)
31st October 2025
Audit of Accounts
Before filing AOC-4
Note: Dates may vary slightly each year. Always check official updates.
Penalties for Non-Compliance
Default
Penalty
Late filing of AOC-4 or MGT-7A
₹100 per day (no maximum cap)
No Audit
Legal action by MCA
Non-filing of ITR
Penalty up to ₹10,000
How to Stay Compliant in Kochi?
You can hire a Company Secretary (CS), Chartered Accountant (CA), or register with a trusted compliance service provider like Kanakkupillai or similar platforms. They help you:
- Track deadlines
- Maintain documents
- File the necessary forms.
- Avoid penalties
Documents Required for Annual Compliance
- PAN and Incorporation Certificate of OPC
- MOA & AOA
- Financial Statements
- Digital Signature Certificate (DSC) of the Director
- Audit Report
- KYC of Director
- Bank Statements and Invoices
Final Words
Even though a single person manages an OPC, annual compliance is not optional. Staying compliant helps your company maintain its credibility and opens doors to potential funding and growth opportunities. For business owners in Kochi, it’s advisable to keep up-to-date with ROC requirements and consult with professionals for hassle-free compliance filing.
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