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Photos of Director
Address proof of Director
> ID proof of Director
Address proof of your registered office
OPC stand for One Person Company, Article 2 (62) of the Companies Act defines a sole proprietorship as a company that has only one person as a member. So a OPC is effectively a company that has only one shareholder as a member. These companies are usually created when there is only one founder / promoter for the business.
Capital required to start an OPC
An OPC can be started with a minimum authorized capital of Rs. 1 lakh. There is no mandatory minimum paid-up capital requirement. So you can start as an OPC with a capital contribution as low as Rs. 2. However, when the paid-up capital exceeds Rs. 50 lakh, OPC must be converted into a limited liability company.
Are there any tax advantages to forming a OPC?
There is no specific tax advantage for an OPC over any other form. The tax rate is flat at 30%, other tax provisions such as MAT and Dividend Distribution Tax apply, as they apply to any other form of company.
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