How to register one person company - Tax Rupees

As per provisions of the companies act, 2013, An one person company director (OPC) is formed when one individual serves as both, the and shareholder of the business. The director and shareholder of one person company must be an Indian citizen and resident of India. Under the companies act 2013, companies in India are registered with the registrar of companies (ROC) and governed by ministry of corporate affairs (MCA). The registration process for one person company in India is quite simple, fast, and can be done online with a single form. The registration process can be summed up in simple steps as describe below:

Step 1: Obtain Digital signature certificate(DSC) – The first step toward registering one person company(OPC) is to acquire a digital signature certificate of the proposed director- DSC is issued by various government recognized certifying authorities and is used for verifying the authenticity of electronic document. All forms that need to be submitted online required the director DSC. The cost of acquiring a DSC depends on certifying agency that the applicants has applied for.

Step 2: Apply for Director Identification Number (DIN) – After obtaining DSC apply for director identification number (DIN) of the purpose director. DIN can be applied within SPIC+(INC-32)form for up to three directors. The documents required for obtaining DIN are identity proof of the proposed director such as :

  1. Voter Id/Aadhar card /Passport /Driving license
  2. Latest bank statement /Telephone bill/ Electricity or gas bill
  3. PAN card

Step 3: Application for companies name Approval – The company’s name should be unique and distinct. The submitted name should not have a close resemblance with any company’s name it is always advisable to check from ministry of corporate affairs (MCA) portal for available names:

Step 4: Once the company’s name is approved by MCA, the following mandatory documents are to be drafted

  1. The memorandum of Associated (MOA) – It’s the foundation on which company‘s built. It defines rules, power, and objective of the company-
  2. The Articles of Association (AOA) – It’s a set of rulers and regulations relating to the management of the company.
  3. Nominee – While registering the company as one person company (OPC) applicant is required to mention a nominee. A nominee should be appointed his duty, Ownership of the company is easily transferred to the nominee. A nominee has to right to choose or reject, to become sole owner of the company consent of nominee to act as nominee must be obtained in form INC -3 along with scanned copies of PAN card and Aadhar card of the nominee.
  4. Documents required for registered office address proof are –commercial electricity bill/sale deed of the office location for self-owned property .similarly rent agreement & NOC from the landlord for a rented property.

Step 5: By applying through SPICE+(INC-32) form applicant can avail of five different services namely:-

  1. Applicant for allotment of DIN (Director Identification Number)
  2. Reservation of company name
  3. Incorporation of a proposed company
  4. Application for allotment of PAN
  5. Application for allotment of TAN

Along with the form, the applicant is required to include all documents such as (the MOA, AOA, and DSC of the director. All details in the form are duly filled along with required documents and uploaded to the MCA portal for approval.

Step 6: Once the application form and document are verified by authorities, the registrar of companies (ROC) issues a certificate of incorporation along with PAN number and TAN, as allotted by income tax department.

Step 7: Applicant is required to open a current account in the name of the person company in order to regulate the transaction of OPC.