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The Ultimate Guide to NRI Property Sales in India:
Navigating Taxes, TDS, and Compliance
A One Person Company (OPC) in India must annually file financial statements in Form AOC-4 and an abridged annual return in Form MGT-7A with the Registrar of Companies, alongside income tax returns.
Corporate and ROC Compliances
Corporate and ROC Compliances
Financial Statements (Form AOC-4): File audited balance sheet and profit & loss account within 180 days of the financial year end (by September 27).
Annual Return (Form MGT-7A): File an abridged annual return detailing shareholding and management within 60 days of the expiry of 180 days from financial year end (typically by November 28).
Director KYC (DIR-3 KYC): Complete annual KYC for the director by September 30.
Director Disqualification Declaration (Form DIR-8): Submit annually confirming non-disqualification under the Companies Act.
Disclosure of Interest (Form MBP-1): Provide disclosure of interest in other entities during the first board meeting of the financial year.
Return of Deposits (Form DPT-3): File yearly details of outstanding loans or money received that are not classified as deposits by June 30.
Board Meetings: Conduct a minimum of two board meetings in a calendar year, maintaining at least a 90-day gap between them.
Tax and Accounting Compliances
Tax and Accounting Compliances
Statutory Audit: Mandatory annual audit of accounts by a chartered accountant regardless of turnover.
Income Tax Return (Form ITR-6): File company tax returns by September 30 (or October 31 if a tax audit is required).
GST & TDS Returns: File periodic Goods and Services Tax and Tax Deducted at Source returns if applicable.
For tailored execution of these filings or advisory services, you can review corporate updates via Kopparam and Associates.
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