||ONE PERSON COMPANY
||One Person Company governed by the Companies Act, 2013.
||Sole Proprietorship is not governed under any specific act.
||It is mandatory to register an one person company under Companies Act, 2013.
||It is optional to register to a proprietorship.
||One person company is considered as a separate legal entity.
||Proprietorship is not considered as a separate legal entity.
||Members liability is limited to the extent of share capital.
||Members liability is unlimited.
|NUMBER OF MEMBER
||Minimum and maximum number of members in OPC is one.
||Minimum and maximum number of members in proprietorship is one.
|| Tax rate is 30% on profits plus cess and surcharge
|| Taxed as an individual
| MINIMUM PAID-UP CAPITAL
|| Minimum paid up capital of Rs. 100000 is required to form One Person Company.
|| There is no such requirement of minimum paid up capital in case of sole proprietorship
| TRANSFERABILITY OF SHARES
|| Shares can be transfer by altering the MOA (Memorandum of Association).
|| Shares cannot transfer; it can only be transfer by way of inheritance after the death of the owner.
| NUMBER OF DIRECTORS
|| Minimum one director and maximum 15 are allowed to be appointed in an one person company.
|| No guidelines are provided for the number of directors required to be appointed.