Articles

Important Due Dates For OPC Annual Filing For FY 2023-24

Important Statutory Due Dates For OPC Annual Filing For FY 2023-24

An OPC, or One Person Company, is a company with a single member. Unlike Private Limited or Limited Liability Partnerships, OPCs have fewer compliance requirements. However, it is crucial to pay attention to the statutory due dates for OPC annual filing in the upcoming financial year to ensure timely compliance. To assist with this, we have developed a calendar containing all the ROC filing due dates for OPC annual filing for the Financial Year 2023-24 (AY 2024-25).

 

What is OPC Annual Filing?

An OPC has fewer compliance obligations compared to Private Limited or Public Limited Companies, leading to decreased OPC Annual Compliance expenses. OPCs must submit two annual forms, MGT 7A and AOC 4, annually. It’s important to understand what these forms are and their respective due dates for OPC Annual Filing.

What is E Form AOC 4 for OPC?  

  • The AOC 4 E-Form is an important annual filing that is mandatory for One Person Companies (OPCs), encompassing all financial activities and monetary specifics of the company for the relevant fiscal year.
  • This report includes the Balance Sheet, Profit and Loss Account, Auditor’s Report, and Audited Financial Statements.

What is the Due Date for filing Form AOC 4 for OPC for FY 2023-24?  

  • The AOC 4 for OPC for FY 2023-24 must be filed with the ROC within 180 days of the financial year’s completion.
  • This means that the deadline for submitting the E-Form AOC 4 will be September 27, 2024, starting from April 1, 2024.

What is Form MGT 7A for OPC?  

The MCA introduced Form MGT 7A via the Companies (Management and Administration) Amendment Rules, 2021 on March 5, 2021, specifically for One Person Company (OPC) and Small Companies. OPCs and Small Companies must submit Form MGT 7A annually to the Registrar of Companies (ROC), which includes the latest information on directors and shareholders of the OPC.

What is the Due Date for filing Form MGT 7A for OPC for FY 2023-24?  

  • The due date for filing Form MGT 7A for OPCs in the financial year 2023-24 is 60 days after the Annual General Meeting (AGM), even though OPCs are not required to hold an AGM.
  • For example, The deadline for filing Form MGT 7A for FY 2023-24 would be November 29, 2024, according to the MGT 7A help kit.

Event-based Compliances for OPC  

In addition to the mentioned responsibilities, One Person Companies must also follow specific event-based compliances:

  • These include internal administrative tasks and external business management requirements.
  • Moreover, an OPC is required to meet filing obligations with legal entities like GST returns, PF, and ESI regulations.

Penalty for Late Filing AOC 4 and MGT 7A  

  • In case of delayed filing of ROC Forms AOC 4 and Form MGT 7A, the penalty has been prescribed as INR 100/- per day for each day during which the default continues.
  • One-Person Companies must file their ROC Annual Compliance Forms within the stipulated time to comply with the Companies Act, 2013 and the Income Tax Act, as well as other applicable regulations.
Siddhi Jain

Siddhi Jain (B.A.LLB) is a young and passionate Content Writer at Ebizfiling Private Limited. She enjoys reading and writing about legal topics and simplifying complex legal concepts for a wider audience. Her goal is to continue growing as a content writer and to become a subject matter expert in legal and business topics.

Leave a Comment

Recent Posts

Compliance Calendar August 2025

Compliance Calendar for the Month of August 2025  As we step into August 2025, it’s important for businesses, professionals, and…

8 hours ago

LUT Renewal FY 2025-26: GST Exporter’s Checklist

LUT Renewal FY 2025-26: GST Exporter's Checklist Introduction If you're an exporter in India, you need to submit a Letter…

2 weeks ago

Cross-Border Compliance: Global Business Regulations

Cross-Border Compliance: Global Business Regulations Introduction Taking your business international can open exciting opportunities. But with that growth comes the…

2 weeks ago

Penalties from Non-Compliance in OPC Annual Filing

Penalties from Non-Compliance in OPC Annual Filing Introduction An One Person Company (OPC) is a type of business in India…

2 weeks ago

Comply with FDI Norms During Registration

Comply with FDI Norms During Registration Introduction If you're planning to register a business in India with foreign investment, it's…

2 weeks ago

USA-Registered LLC Penalties Despite No Activity

USA-Registered LLC Penalties Despite No Activity Introduction Just because your US LLC hasn’t started doing business doesn’t mean you can…

2 weeks ago