OPC Compliance

OPC Compliance

Form 15CA and Form 15CB are mandatory for remittances made to non-residents. Form 15CB is a certificate issued by a Chartered Accountant certifying the nature of payment, applicable tax rate, and TDS compliance. Form 15CA is an online declaration filed by the remitter on the Income Tax portal before making the payment. Both forms ensure proper tax deduction on cross-border payments.

Important Points:

  • AOC-4 and MGT-7A filing similar to Private Limited Companies
  • No AGM requirement – but board meetings required (minimum 1 per half-year)
  • ITR-6 filing by October 31
  • Must convert to Pvt Ltd if turnover exceeds ₹2 crore or paid-up capital exceeds ₹50 lakh

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