Benefits of One Person Company in India

Benefits of One Person Company in India





In India, there are a large number of small scale enterprises which are working under the proprietorship model. The introduction of One person company (OPC) will help a lot of these enterprises to move into the organized version of Private Limited Company with a lower compliance burden, thus providing more access to banking facilities and other such benefits which might be unavailable to them in their unorganized form.

The first and the foremost benefit of incorporating One Person Company is that it follows a similar structure as a private limited company. This business structure is often the most popular in the world and gives a sense of confidence to the suppliers and customers. It also provides a legal status and social recognition to your business.

In a one person company, you do not need a big amount of capital as the whole responsibility of the operations rests with the single owner. This is a great advantage for the new Entrepreneurs who are just starting out and do not have enough funds to invest in their business.

Moreover, the OPC does not need to prepare a cash flow statement and is not required to hold any general meeting. However, it is mandatory to file the Annual return with the Income Tax Department.


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