Last Updated on May 28, 2026
In the city of Chennai, there is a strong presence of start-ups, small business ventures, and an entrepreneurial spirit. One common business structure for sole founders in Chennai is the One Person Company (OPC), which offers limited liability similar to a privately held corporation or company, with fewer rules than those applicable to large businesses or firms. Once established as an OPC, the business must also comply with annual and other periodic requirements prescribed by the Companies Act of 2013, as well as regulations issued by the Ministry of Corporate Affairs. This guide provides details on the mandatory annual compliance obligations for OPCs formed or registered in Chennai.
What is a One Person Company?
A One Person Company is defined in the Companies Act, 2013, as a type of private company with one director and one shareholder. The purpose of the OPC structure is to enable a sole proprietor or entrepreneur to obtain the advantages offered by a private corporation or company while retaining full control of his or her business. As such, OPCs are an excellent option for independent contractors, freelancers, independent consultants, small manufacturers, and service providers in Chennai who want to establish and operate a more formal business organisation but do not want to undergo the additional forms of corporate compliance that accompany the establishment of a private limited company.
OPCs in Chennai must comply with certain key annual requirements, even though they have many exemptions that private limited companies do not have. However, they must still file an annual return with the Registrar of Companies (ROC), Chennai, and their Annual Financial Statements.
Get expert OPC annual compliance services in Chennai. We handle ROC filings, annual returns, financial statements, and statutory compliance at affordable pricing.
Key Annual Compliance Requirements for OPCs in Chennai
1. Maintain Statutory Registers and Minutes
An OPC must maintain the following:-
- Register of Members
- Register of Directors and Key Managerial Personnel
- Minutes Book for Board Meetings
All of the above must be kept at the OPC’s registered office in Chennai
2. Appoint an Auditor
An OPC must appoint an auditor within thirty days of incorporation. The auditor serves for a five-year term and need not be reappointed unless there is a change in the auditor.
An OPC must file Form ADT-1 within fifteen days after the auditor has been appointed.
3. Submission of Financial Statements (Form AOC-4)
Forms to be submitted: Balance Sheet, Profit & Loss Account, Director’s Report, and Auditor’s Report
Due date: Within six months from the end of the financial year
4. Filing of Annual Return (Form MGT-7A)
OPCs must file Form MGT-7A
Due date: Within six months from the end of the financial year
Unlike other companies, OPCs are not required to file within 60 days after the annual general meeting (AGM) since they are not subject to AGMs.
5. Filing of Income Tax Returns
Due date: September 30, every financial year
Form: ITR-6
Mandatory requirement for companies with turnover exceeding ₹1 crore in business or ₹50 lakh in profession to complete an audit.
6. Director’s KYC (Form DIR-3 KYC)
Every director is required to submit Form DIR-3 KYC.
Due date: June 30 as per the new rule
7. Submission of Form DPT-3
If an OPC has any loans or outstanding amounts as at March 31, Form DPT-3 must be filed.
Due date: June 30 of each year.
Reports all outstanding amounts regardless of their classification (i.e. deposits or otherwise).
8. Filing of MSME Returns (Form MSME-I) – Must be filed out if applicable
This requirement comes into place when the OPC has outstanding dues to micro/small enterprises for a time frame longer than the 45-day mark.
9. Disclosure of Interest (Form MBP-1)
Directors of OPCs must provide disclosures of their interests in other companies.
This form will be submitted at the first meeting of the Board of Directors for the financial year and at other times as the director makes changes to the disclosure in the future.
10. Declaration by Director (Form DIR-8)
The OPC must submit declarations from their directors to state that they do not have any disqualifications as provided for in Section 164 of the Companies Act. This must be filed once a year at the first meeting of the Board.
Consequences of Not Complying
- If the OPC does not comply with filing its annual returns, there will be the following consequences:
- Fines for delays in filing AOC-4 and MGT-7A – fines can be between ₹100 – ₹600 per day depending upon size of the company.
- The director of the company may be disqualified from holding office as a director as provided for in Section 164.
- The company will not be allowed to open a bank account or obtain loans.
- The company may be struck off the MCA registry, or its name may be removed from it.
- Penalties under the Income Tax Act for the late filing of income tax returns.
Why OPC Compliance is Important in Chennai?
Chennai’s ROC office is very proactive in monitoring filings. Not complying with the annual requirements will cause:
- The loss of limited liability protection.
- The inability to raise capital and/or enter into contract(s).
- Legal action may be taken against the director for any non-compliance by the director or the company.
- Your company’s inability to be credible with its customers and vendors.
- Timely filing of compliance returns ensures your OPC is in good standing with the MCA, enabling you to continue growing your OPC.
Conclusion
In Chennai, keeping compliance up-to-date for OPCs is very doable when proper planning & professional assistance are provided. Following all timelines imposed by the MCA on AOC-4, MGT-7A, Tax filings and Board Meetings allows the owners of OPCs to keep their corporate standing, protect their personal property, and concentrate on developing their businesses in the ever-changing marketplace of Chennai. Maintain compliance, credibility, and growth with assurance.
Frequently Asked Questions (FAQs)
1. Is AGM mandatory for One Person Companies in Chennai?
No, PCs are exempt from holding an Annual General Meeting (AGM) under the Companies Act, 2013. Instead, resolutions can be recorded in the minutes book.
2. What is the due date for filing AOC-4 and MGT-7A for OPCs?
Both forms must be filed within 180 days from the end of the financial year, i.e., September 28 for FY ending March 31.
3. Do I need to appoint an auditor every year for my OPC?
No, an auditor in an OPC is appointed for 5 years. Form ADT-1 is filed only once unless there’s a change in auditor.
4. What happens if I miss the annual compliance deadline for my OPC?
Late filing attracts penalties and late fees. Repeated non-compliance can lead to director disqualification or company strike-off.
5. Can a foreign national start an OPC in Chennai?
No, only an Indian citizen resident in India (staying at least 120 days in a financial year) can incorporate an OPC. Foreign nationals must instead register a Private Limited Company.
