Income Tax
We will provide income tax return preparation, Revised return, Responding to Department notices and solving other Income Tax related issues.
Private Limited into OPC
OPC provides a whole new bracket of opportunities for those who look towards to start their own ventures with a structure of organized business. OPC will give the young businessman all benefits of a private limited company which categorically means they will have access to credits, bank loans, limited liability, legal protection for business, access to market etc all in the name of a separate legal entity.
Private Limited Company to OPC
What is OPC?
An OPC is a hybrid structure, wherein it combines most of the benefits of a sole proprietorship and a company form of business. It has only one person as a member who will act in the capacity of a director as well as a shareholder.
One person company is a new concept in India which has been introduced by the companies act 2013. In the old Companies act 1956 a minimum of two directors and shareholders were required to form a private limited company. However in case of a One person company, only 1 person is required who can be a shareholder as well as the Director. Hence the name, One Person Company.
Private Limited Company into OPC
Why convert Private Limited Company into One Person Company?
Reasons
One person company (OPC) is a new form of business introduced by Companies Act, 2013. It is hybrid form of business where a sole proprietorship concern can get a corporate outlook. By converting a private limited company into OPC, one can avail the benefits that OPC has to offer such as complete control over operations, less compliances and management etc.
Private Limited Company into OPC
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thewealthbridge.in is web portal of Esways IT Solution Private Limited with operations since 2007. thewealthbridge.in is one stop business setup and consulting company, managed by specialized team of Business Analysts,Company Secretaries, Chartered Accountants, Corporate Lawyers and Financial Professionals company headquartered in Chennai, India. Having known for our quality of services, delivering the projects on time, we have clients spread across the globe
Business Licenses
Our Professionals Will help you in getting your business licenses and Business licenses necessary for smooth running of businesses
Financial Services
we will Provide Funds for both personal and Business. Our funding system gives a credit line facility, enabling you to expand your business to new heights
GST Returns
We will make your business to GST Compliance. Returns are required to be filed digitally online through a common portal to be provided by GSTN
Private Limited Company into OPC
Procedures included
01.
What is the Procedure for LLP Conversion?
- A private limited company can be converted into OPC only if it has not more than 50 lakh rupees paid up share capital or average annual turnover is 2crores or less during the immediately preceding 3 financial years.
- Board Meeting: Board meeting has to be convened by issuing proper notice to get, in-principal approval of directors for conversion of the company to OPC, fix time and place of EGM to get shareholders’ approval, to approve notice of EGM along with Agenda, to authorize director or company seretary to issue EGM notice.
- Company shall also obtain NO objection certificate from existing members and creditors.
- EGM notice should be issued atleast 21days before the EGM to all the directors, members and auditors of the company.
- EGM is convened and shareholders approval through special resolution is obtained for conversion into OPC.
- Company is required to file Special Resolution passed by shareholders for Conversion of Private Company into One Person Company (OPC) with concerned Registrar of Companies. Hence, file form MGT.14 within 30 days of passing of Special Resolution with the concerned Registrar of Companies, with prescribed fee and attachments.
- The company shall file an application in Form No.INC.6 for its conversion into One Person Company along with prescribed fee and attachments
- Concerned Registrar of Companies (ROC) will check the E-forms and attached documents filed by the Company for Conversion of Private Company into One Person Company (OPC). On being satisfied that Company has complied with prescribed requirements the Registrar shall issue the Certificate to the effect of Conversion of Private Company into One Person Company (OPC).
Private Limited Company into OPC
Packages included
02.
What Includes in this package?
- Verification of Documents
- Applying DPIN and DSC for the partners
- File OPC Agreement
- Incorporation Certificate will be delivered
Private Limited into OPC
FAQ
No. As per the Act, Only Indian born citizens can form a One Person Company. Non-resident Indians or individuals who do not reside in India for over 182 days cannot incorporate a OPC.
No, FDI is not allowed for One Person Company, if it is, then it will lose its One Person Company status.
No, the Act clearly states that, the nominee should also be an Indian resident citizen.
The Act has not made any restriction for a One Person Company to become a member of another Private Limited Company.
As per the Act, the average annual turnover during the relevant period should not exceed Rs.2 Crores. If it exceeds, then the company automatically get converted to a Private Limited Company.
As per the Act, Nominee of one OPC, cannot be a nominee of another OPC. In this event, the Nominee has to withdraw his membership from either of the OPCs within one hundred and eighty days.
About Wealth Bridge
We Help You To Form Your Company In A Simple Way Wealth Bridge Will Making More Possibilities which aims at providing much-needed funds to businesses across the trading and service industry
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Head Office
2nd Floor, #23, 8th East Main Road
Gandhinagar, Katpadi, Vellore
(+91) 416 2241199
(+91) 86677 53901
Branches
ARAKKONAM OFFICE
# 10/1, Thiruthani High Road ,
Upstairs to Central Bank ,Jothi Nagar,
Arakkonam , TamilNadu - 631003
Phone:+91 6381184522 , +91 8012747723.
RANIPET OFFICE
No 126, MBT Road, Mahaveer Complex,
First Floor, Muthukadai,
(NearDarling bakery) Ranipet - 632401
Phone : +91 417 2295006 +91 86675 42148