by Audit Analyst | Aug 1, 2025 | OPC
Corporate Tax Structure An OPC is treated as a separate legal entity and taxed as a domestic company under the Income Tax Act, 1961. It is subject to a flat corporate tax rate, which can be 22% under the new tax regime (plus surcharge and cess). This structure differs...
by Audit Analyst | Aug 1, 2025 | OPC
Legal Obligation Every OPC is required to file its financial statements annually with the Registrar of Companies (RoC). This requirement is mandated under Section 137 of the Companies Act, 2013. Filing is compulsory even if the company has not carried out any business...
by Audit Analyst | Aug 1, 2025 | OPC
Incorporation and Statutory Framework An OPC is incorporated under the Companies Act, 2013, and classified as a private limited company with a single member. It must comply with provisions applicable to private companies, with certain exemptions and relaxations for...
by Audit Analyst | Aug 1, 2025 | OPC
Flat Corporate Tax Rate OPCs enjoy the benefit of being taxed at a flat corporate tax rate, unlike individuals who are taxed under slab rates. Under the new tax regime (Section 115BAA), OPCs are taxed at 22% plus applicable surcharge and cess. This rate is lower than...
by Audit Analyst | Aug 1, 2025 | OPC
Income Tax Applicability An OPC is taxed as a domestic company under the Income Tax Act, 1961. It is required to pay tax at the applicable corporate tax rate, currently: 22% under the new tax regime (Section 115BAA), subject to conditions. 25% if the turnover is up to...
