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one-person-company-registration

One Person Company Registration

“One Person Company” means a company which has only one person as a Member. Furthermore, members of a company are nothing but subscribers to its memorandum of association, or its shareholders. So, an OPC is effectively a company that has only one shareholder as its member.
Such companies are generally created when there is only one founder/promoter for the business. OPCs need to have minimum one person (the member) as director. They can have a maximum of 15 directors. Companies Act, 2013 has not prescribed any amount as minimum paid-up capital for OPCs.
A unique feature of OPCs that separates it from other kinds of companies is that the sole member of the company has to mention a nominee while registering the company. Since there is only one member in an OPC, his death will result in the nominee choosing or rejecting to become its sole member. This does not happen in other companies as they follow the concept of perpetual succession.

Membership in One Person Companies:

Only natural persons who are Indian citizens and residents are eligible to form a one person company in India. The same condition applies to nominees of OPCs. Further, such a natural person cannot be a member or nominee of more than one OPC at any point of time.
It is important to note that only natural persons can become members of OPCs. This does not happen in case of companies wherein companies themselves can own shares and be members. Further, the law prohibits minors from being members or nominees of OPCs.

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Corpus fund refers to money donated to a charity with the provisions that the principal will not be spent , But the income from the principal or corpus will be used for the charity. Corpus fund denotes a permananet fund kept for the basic expenditure needed for the administration and survival of the organisation interest on corpus fund is to be used for the acuities of the NGO. 15 % is exempt by default. Balance 85% is exempt to the extent that it is used for charitable purpose.

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Corpus fund refers to money donated to a charity with the provisions that the principal will not be spent , But the income from the principal or corpus will be used for the charity. Corpus fund denotes a permananet fund kept for the basic expenditure needed for the administration and survival of the organisation interest on corpus fund is to be used for the acuities of the NGO. 15 % is exempt by default. Balance 85% is exempt to the extent that it is used for charitable purpose.

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Every person capable of holding property may be a beneficiary. A property may e a beneficiary or renounce his interest under the trust by disclaimer addressed to the trustee or by setting up with notice of the trust, A claim inconsistent there with. A person or corporation legally capable of taking and holding legal title to property can be a beneficially of a trust. Beneficiaries can be of two types.

Fixed beneficiaries.
Discretionary beneficiaries.

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Grants are non repayable funds disbursed by one party, often a government department , corporation, foundation or trust to a recipient often a non profit entity educational institution, business or an individual A trust can apply for government grant funding and applying for a government grant requires much effort. A government grant can help the project get underway save time and improve chains by followings the proper procedures.

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A trust can open a school but the purpose of opening a school should not be profits motive but must be for the overall welfare and development of the society . School must be opened by welfare of a community , needy and poor children who cannot get basic education trust cannot open school in Bihar and company U/s 25 cannot open a school.

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Income of an organisation is exempted if a NGO has 12A registration. All income shall not be taxable after 12A registration. This is one time registration. 80G: If an organisition has obtained certification under 80G then donors of that NGO can claim exemption from Income Tax. This is not one time registration and this needs to get renewed after validity period 12A AND 80G benefits available to a trust. Trust deed, Registration certificate, Trust Pan Card, ID Proof, Books of accounts e.t.c are required for registration U/S 12A and 80G to avail the benefit.

BENEFITS: Using 80G the trust can raise local fund

Registration Certificate of Trust/ Society 80G registration means donors can claim exemption. Valid Postal Address along with address proof(like electricitybill, warebill etc) and NOC from land lord. Evidence of welfare activities carried out. Books of accounts and ITR since inception

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Yes a trust can enroll members. For enrollment of a member trust has to comply with a enrollment process. Enrollment Process for the first party or a third party is similar but extra steps may be needed if a beneficiary is funding his or her own trust and is not financially capable.

Procedure for enrollment process:

  • gather supporting documents
  • complete the joinder agreement
  • submit check with documents
  • confirmation
  • Before registering a company, a person should know its process:

    • Obtaining Digital Signature Certificate (DSC)
    • Application for name availability in form RUN
    • Preparation of FORM SPICE, SPICE MOA, SPICE AOA
    • Preparation of INC 3 – Nominee- Consent Form
    • Uploading process & Online payment
    • Verification of documents by ROC


    • Issue of certificate of Incorporation with PAN & TAN

    Documents and information required:-

    Information required for approval of name for the proposed company: - Suggested name for the proposed company
    Details of the Directors (Promoters), (E-mail ID, occupation, Qualification and phone number)
    Address of the registered office of the company and ownership proof of the address-Gas Bill/Electricity Bill/telephone Bill(not be older than 2month)
    Proposed objects of the company
    Sharing ratio of Proposed directors
    2 photographs of each proposed Directors
    PAN card (Mandatory) of each proposed Directors
    Proof of identity: Passport/voter id /D.L.
    Proof of residential: Telephone Bill/Mobile bill/Electricity bill/Bank statement. (not be older than 2month)

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