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ONE PERSON COMPANY

Dear Sir,

As discussed with you PFA Quotation for Company Incorporation for a one person company:

Documents Required:-

*All Documents are required as under for all Directors with self-attested in .pdf format.

 Eligible in all states of India…

Particulars

Identity Proof 

  • PAN Card Self Attested All Directors Must

 

Address Proof

Any of the below documents will be required for All Directors

  • Driving License
  • Voter ID
  • AADHAR UID
  • Passport
  • Bank Pass Book
  • Ration Card
  • Landline Bill
  • Credit Card Statement

 

Photo

  • Hard  copy of All Directors

After Company name approval below documents will be required as Company address proof.

  1. Electricity Bill and NOC for doing business (If own premise).
  2. Rent Agreement + NOC + Electricity Bill (if rented).

 

*Package Details next page below

Particulars

Quantity

Duration

DIN

1

1 Day

DSC Director for 2 years Validity.

1

2 Days

Name Approval (Please provide us at least 3 names not resembling with existing company or Trade Mark)

-

10-12 Days

Certificate of Incorporation

-

10-12 Days

MOA & AOA (soft and hard printed copies in booklet form)

25/50/100

-

PAN Card

(Will apply after receiving of PAN)

15 Days

TAN

(Will apply after receiving of PAN)

15 Days

Share Certificate

25/50/100

After Incorporation 10 Days

Rubber Stamp (Round, Address and Director, Self inked)

1/2/3

After Incorporation 10 Days

Certificate of Incorporation

 

After Incorporation

 

 

 

Common Seal

1

After Incorporation 10 Days

All necessary E-Stamps paper

 

After Incorporation 10 Days

All Conveyance Costs for necessary Documents

-

After Incorporation 10 Days

Bank Account Open from HDFC, Standard Chartered, Kotak Mahindra Bank etc.

-

Ref. by us

Registering of Digital Signature Certificate with ROC MCA.

-

Immediately

Free ITR Return for Director

1

When ITR to be filed i.e., 31st July/ 30th  Sep.

Cost

See Table below

*Package Includes:-

Particulars              Simple     Basic

Standard

High

 

DIN   No                                         ?

√                

 

Duration

 

E-Stamp Papers                             ?               √

 

 

 

 

DSC                                                  ?

√                

 

 

 

 

E-Token Pass for DSC                 ?

 

 

 

 

Name Approval                           

√                

 

 

 

 

COI                                                  

√                

 

 

 

 

PAN CARD                                        

 

 

 

 

 TAN NO.                                         ?            

 

Duration

 

MOA  & AOA                                  ?             

 

 

Common Seal                                ?               ?

 

 

Continued next page…

 

 

 

 

 

 

 

Particulars              Simple     Basic

Standard

High

 

 

Duration

Rubber Stamps                               ?              

 

 

Photo Frame                                  ?               ?

 

 

Free ITR of  Director                  ?               ?

?

Duration

DSC Reg. With ROC                      √                √

DSC Reg. With Income Tax      ?               ?

?

 

 

Cost                                            10,000               13,000

16,000

18,000

 

 

*Note: Simple Package is for customers having DIN No. and DSC.

 

 

 

 

*Extra DIN No> 2-4 Directors 

 

1,000

 

 

*Extra DSC   each

 

1,000

 

 

Name change/ Object changes

 

5,000

 

 

Address Change

 

2,000

 

 

Addition / Removal of Director                  

 

1,000

 

 

 

 

 

 

What is One Person Company (OPC)?

The concept of One Person Company [OPC] is a new vehicle/form of business, introduced by The Companies Act, 2013 [No.18 of 2013], thereby enabling Entrepreneur(s) carrying on the business in the Sole-Proprietor form of business to enter into a Corporate Framework.
One Person Company is a hybrid of Sole-Proprietor and Company form of business, and has been provided with concessional/relaxed requirements under the Act.

Features of One Person Company (OPC)

1.Only-One-Shareholder:
Only a natural person, who is an Indian citizen and resident in India shall be eligible to incorporate a One Person Company. Explanation: The term "Resident in India" means a person who has stayed in India for a period of not less than 182 days during-the-immediately-preceding-one-calendar-year.
2.Nominee-for-the-Shareholder:
The Shareholder shall nominate another person who shall become the shareholders in case of death/incapacity of the original shareholder.  Such nominee shall give his/her consent and such consent for being appointed as the Nominee for the sole Shareholder.   Only a natural person, who is an Indian citizen and resident in India shall be a nominee for the sole member-of-a-One-Person-Company.
3.Director: 
Must have a minimum of One Director, the Sole Shareholder can himself be the Sole Director. The Company may have a maximum number of 15 directors.

Terms and Restrictions of OPC

  1. A person shall not be eligible to incorporate more than a One Person Company or become nominee in more than one such company.
  2. Minor cannot shall become member or nominee of the One Person Company or can hold share with beneficial interest.
  3. An OPC cannot be incorporated or converted into a company under Section 8 of the Act. [Company not for Profit].
  4. An OPC cannot carry out Non-Banking Financial Investment activities including investment in securities of any body corporate. 
  5. An OPC cannot convert voluntarily into any kind of company unless two years have expired from the date of incorporation of One Person Company, except threshold limit (paid up share capital) is increased beyond Rs.50 Lakhs or its average annual turnover during the relevant period exceeds Rs.2 Crores i.e., if the Paid-up capital of the Company crosses Rs.50 Lakhs or the average annual turnover during the relevant period exceeds Rs.2 Crores, then the OPC has to invariably file forms with the ROC for conversion in to a Private or Public Company, with in a period of Six Months on breaching the above threshold limits.

Steps to Incorporate One Person Company (OPC)

  1. Obtain Digital Signature Certificate [DSC] for the proposed Director(s).
  2. Obtain Director Identification Number [DIN] for the proposed director(s).
  3. Select suitable Company Name, and make an application to the Ministry of Corporate Office for availability of name. 
  4. Draft Memorandum of Association and Articles of Association [MOA & AOA]. 
  5. Sign and file various documents including MOA & AOA with the Registrar of Companies electronically. 
  6. Payment of Requisite fee to Ministry of Corporate Affairs and also Stamp Duty. 
  7. Scrutiny of documents at Registrar of Companies [ROC].
  8. Receipt of Certificate of Registration/Incorporation from ROC.

Companies Law provisions relates to One Person Company (OPC)

A-Z provisions from the Companies Law 2012 relates to the One Person Company (OPC)

Section.2.(62):Definition-of-"One-Person-Company":

One Person Company” means a company which has only one person as a member

Section-2-(40):-Definition-of-"Financial-Statement"

“financial-statement”-in-relation-to-a-company,-includes:

(i).a-balance-sheet-as-at-the-end-of-the-financial-year;
(ii) a profit and loss account, or in the case of a company carrying on any activity not for profit, an income and expenditure account for the financial year;
(iii) cash flow statement for the financial year;
(iv) a statement of changes in equity, if applicable; and
(v) any explanatory note annexed to, or forming part of, any document referred to in sub-clause (i) to sub-clause (iv):

Provided that the financial statement, with respect to One Person Company (OPC), small company and dormant company, may not include the cash flow statement;

Section 2 (68): Definition of "Private Company"

“private company” means a company having a minimum paid-up share capital of one lakh rupees (Rs. 1,00,000/-) or such higher paid-up share capital as may be prescribed, and which by its articles,

(i) restricts the right to transfer its shares;
(ii) except in case of One Person Company (OPC), limits the number of its members to two hundred:

Provided that where two or more persons hold one or more shares in a company jointly, they shall, for the purposes of this clause, be treated as a single member:

Provided further that--

  • persons who are in the employment of the company; and
  • persons who, having been formerly in the employment of the company, were members of the company while in that employment and have continued to be members after the employment ceased,

shall not be included in the number of members; and

(iii) prohibits any invitation to the public to subscribe for any securities of the company;

Section 3: Formation of the One Person Company (OPC)

(1) A company may be formed for any lawful purpose by:

(a) seven or more persons, where the company to be formed is to be a public company;
(b) two or more persons, where the company to be formed is to be a private company; or
(c) one person, where the company to be formed is to be One Person Company (OPC) that is to say, a private company,

by subscribing their names or his name to a memorandum and complying with the requirements
of this Act in respect of registration:

Provided that the memorandum of One Person Company (OPC) shall indicate the name of the other person, with his prior written consent in the prescribed form, who shall, in the event of the subscriber’s death or his incapacity to contract become the member of the company and the written consent of such person shall also be filed with the Registrar at the time of incorporation of the One Person Company (OPC) along with its memorandum and articles:

Provided further that such other person may withdraw his consent in such manner as may be prescribed:

Provided also that the member of One Person Company (OPC) may at any time change the name of such other person by giving notice in such manner as may be prescribed:

Provided also that it shall be the duty of the member of One Person Company (OPC) to intimate the company the change, if any, in the name of the other person nominated by him by indicating in the memorandum or otherwise within such time and in such manner as may be prescribed, and the company shall intimate the Registrar any such change within such time and in such manner as may be prescribed:

Provided also that any such change in the name of the person shall not be deemed to be an alteration of the memorandum.


(2) A company formed under sub-section (1) (ie., One Person Company / Private Limited Company / Public Limited Company) may be either:

(a) a company limited by shares; or
(b) a company limited by guarantee; or
(c) an unlimited company.

Section 4(1)(f) : Memorandum

The memorandum of a One Person Company (OPC) shall state - the name of the person who, in the event of death of the subscriber, shall become the member of the company.

Section 12 (3) Proviso : Registered Office of the One Person Company (OPC)

Provided further that the words ‘‘One Person Company’’ shall be mentioned in brackets below the name of such company, wherever its name is printed, affixed or engraved.

Section 92 (1) Proviso : Annual Return

Provided that in relation to One Person Company (OPC) and small company, the annual return shall be signed by the company secretary, or where there is no company secretary, by the director of the company.

Section 96 (1) : Annual General Meeting (AGM)

Every company other than a One Person Company (OPC) shall in each year hold in addition to any other meetings, a general meeting as its annual general meeting and shall specify the meeting as such in the notices calling it, and not more than fifteen months shall elapse between the date of one annual general meeting of a company and that of the next ....

Section 122 : Applicability of Chapter-VII (Management & Administration) to One Person Company (OPC)

(1) The provisions of the below sections shall not apply to a One Person Company (OPC) -

  • Section 98 : Power of Tribunal to call meetings of members, etc.
  • Section 100 : Calling of extraordinary general meeting
  • Section 101 : Notice of meeting
  • Section 102 : Statement to be annexed to notice
  • Section 103 : Quorum for meetings
  • Section 104 : Chairman of meetings
  • Section 105 : Proxies
  • Section 106 : Restriction on voting rights
  • Section 107 : Voting by show of hands
  • Section 108 : Voting through electronic means
  • Section 109 : Demand for poll
  • Section 110 : Postal ballot
  • Section 111 : Circulation of members' resolution

(2) The ordinary businesses as mentioned under clause (a) of sub-section (2) of section 102 which a company, other than a One Person Company, is required to transact at its annual general meeting, shall be transacted, in case of One Person Company, as provided in sub-section (3).

(3) For the purposes of section 114 (Ordinary and Special Resolutions), any business which is required to be transacted at an annual general meeting or other general meeting of a company by means of an ordinary or special resolution, it shall be sufficient if, in case of One Person Company, the resolution is communicated by the member to the company and entered in the minutes-book required to be maintained under section 118 (Minutes of proceedings of general meeting, meeting of Board of Directors and other meeting and resolutions passed by postal ballot) and signed and dated by the member and such date shall be deemed to be the date of the meeting for all the purposes under this Act.

(4) Notwithstanding anything in this Act, where there is only one director on the Board of Director of a One Person Company, any business which is required to be transacted at the meeting of the Board of Directors of a company, it shall be sufficient if, in case of such One Person Company, the resolution by such director is entered in the minutes-book required to be maintained under section 118 (Minutes of proceedings of general meeting, meeting of Board of Directors and other meeting and resolutions passed by postal ballot) and signed and dated by such director and such date shall be deemed to be the date of the meeting of the Board of Directors for all the purposes
under this Act.

Section 134 : Financial statement, Board’s report, etc.

Section 134 (1) : The financial statement, including consolidated financial statement, if any, shall be approved by the Board of Directors before they are signed on behalf of the Board at least by the chairperson of the company where he is authorised by the Board or by two directors out of which one shall be managing director and the Chief Executive Officer, if he is a director in the company, the Chief Financial Officer and the company secretary of the company, wherever they are appointed, or in the case of a One Person Company, only by one director, for submission to the auditor for his report thereon.

Section 134 (4) : The report of the Board of Directors to be attached to the financial statement under this section shall, in case of a One Person Company, mean a report containing explanations or comments by the Board on every qualification, reservation or adverse remark or disclaimer made by the auditor in his report.

Section 137 (1) : Copy of financial statement to be filed with Registrar

3rd Proviso : Provided also that a One Person Company shall file a copy of the financial statements duly adopted by its member, along with all the documents which are required to be attached to such financial statements, within one hundred eighty days from the closure of the financial year

Section 149 : Company to have Board of Directors

(1) Every company shall have a Board of Directors consisting of individuals as directors and shall have :

(a) a minimum number of three directors in the case of a public company, two directors in the case of a private company, and one director in the case of a One Person Company; and
(b) a maximum of fifteen directors:

Provided that a company may appoint more than fifteen directors after passing a special resolution:

Provided further that such class or classes of companies as may be prescribed, shall have at least one woman director.

Section 152 : Appointment of Directors

(1) Where no provision is made in the articles of a company for the appointment of the first director, the subscribers to the memorandum who are individuals shall be deemed to be the first directors of the company until the directors are duly appointed and in case of a One Person Company an individual being member shall be deemed to be its first director until the director or directors are duly appointed by the member in accordance with the provisions of this section.

Section 173 : Meetings of Board

(5) A One Person Company, small company and dormant company shall be deemed to have complied with the provisions of this section if at least one meeting of the Board of Directors has been conducted in each half of a calendar year and the gap between the two meetings is not less than ninety days:

Provided that nothing contained in this sub-section and in section 174 (Quorum for meetings of Board) shall apply to One Person Company in which there is only one director on its Board of Directors.

Section 193 : Contract by One Person Company (OPC)

(1) Where One Person Company limited by shares or by guarantee enters into a contract with the sole member of the company who is also the director of the company, the company shall, unless the contract is in writing, ensure that the terms of the contract or offer are contained in a memorandum or are recorded in the minutes of the first meeting of the Board of Directors of the company held next after entering into contract:

Provided that nothing in this sub-section shall apply to contracts entered into by the company in the ordinary course of its business.

(2) The company shall inform the Registrar about every contract entered into by the company and recorded in the minutes of the meeting of its Board of Directors under sub-section (1) within a period of fifteen days of the date of approval by the Board of Directors.

Note:

  1. Approx. Duration for Company Incorporation = 20 Working Days, (Excluding Sat, Sun. or govt. Holidays).

 

  1. *Fees to be paid upto 60 % in Cheques in favour of “BM CompTax Consultants Pvt. Ltd. “payable at New Delhi.

 

  1. **Balance payment Just after Name Approval of the Company ( 40 % ) for Final Uploading.
  1. Fees are Non-Refundable as we pay all payments in ministry and other things.

 

  1. All Communication should be done on email ID, only for better Communication and transparency.

 

  1. Stamps duty Vary from State to State is Payable if exceeds Rs. 500/-

 

  1. *All Payment Should Come After Name Approval of The Company.

 

  1. Service Tax Extra @ 12.36%.

 

  1. Provide us At least 2 Proposed Names with Reason.

 

10.  Check in Google, MCA Portal, and Trade Mark site before selecting your Names.

 

11.  Rent Agreement and NOC is to be provided immediately after Approval of Names from MCA be Clients itself.

Best Regards,

M. S. Bhamrah

(Managing Director)

*Package Costing Separately:-

Particulars             

Registration Fee

Per Return Fee

 

 

Duration

  1. Sales Tax TIN No.                                               

5,000

1,500x4

 

 

  1. Service Tax

3,500

2,500x2

 

 

  1. ISO Certification                           

10,000

10,000

 

 

  1.  Trade Mark Application

     6,500

-

 

 

  1. MSME (SSI)                           

25,000

-

 

 

  1. NSIC                            

25,000

 

 

 

  1. DRUG LICENSE                      

10,000

 

 

 

  1. Excise  Registration                           

10,000

4,000

 

 

  1. PF & ESI REG                           

10,000

1,500

REQUIREMENTS OF A  COMPANY                                                              

 

 

  1. PAN Card and Income Tax Return

 

  1. Auditing & RoC  -P&L and Balance Sheet and auditing as per I.Tax Act & Annual filing of RoC.

 

  1. TDS Registration, Monthly deposit, TDS Returns Quarterly, Assessment and   other        correspondence with the department, Issue of TDS certificates.

 

  1. Sales Tax Registration under VAT and CST, Tax deposit, Quarterly Returns, Assessment and other correspondence with the department.

 

  1. Service Tax Registration, Tax deposit Monthly, Half Yearly Returns,    Assessment and   other correspondence with the department.

 

  1. Excise Registration, Tax deposit, Returns, Assessment and other correspondence with the department.

 

  1. Import Export Code No, Amendment and other correspondence with the            department.

 

  1. Books of Account - Supervision or Maintenance - Computersed with Voucher system, Ledger, Accounts, Trial Balance, Provisional B/S and Bank Reconciliation Statement monthly

 

  1. MoU, Affidavit, Deed, Settlement, Franchising, Power of Attorney, Company Forms and Documents, Bonds, Loan Documents, Notices, Bank Guarantee, Advertisements and any other agreement- on demand.

 

10      Registration under PF, ESI., SSI., ISO.-9002, ISI., SEBI, Factories Act, Gratuity Act,   Pollution, Water, Electricity, Society, Trust, Entertainment

 

  1.  Insurance & Investment of Funds in Mutual Funds, PPF, FD, Shares, Govt.   Bonds, MIS, Post office Savings, NSC etc









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Welcome To Glister Group of Company.

Glister Group of Company.is a multi state Cooperative Society which is registered under Ministry of Agriculture, Government of India. It is operational in two states namely Uttar Pradesh and Bihar.

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