DIFFERENCES opc and sole prop

DIFFERENCES ONE PERSON COMPANY PROPRIETORSHIP
GOVERNING LAW One Person Company governed by the Companies Act, 2013. Sole Proprietorship is not governed under any specific act.
REGISTRATION It is mandatory to register an one person company under Companies Act, 2013. It is optional to register to a proprietorship.
LEGAL STATUS One person company is considered as a separate legal entity. Proprietorship is not considered as a separate legal entity.
MEMBERS LIABILITY 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.
TAXATION 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.

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Company Registration & GST Registration

Company Registration & GST Registration