Question

features of one person company
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Answer 1

Answer:

1. Safety Net. According to the Companies Act, in an OPC, the liability of the single shareholder is limited to the unpaid subscription money in his/her name. ...
2. Succession. ...
3. Market Value. ...
4. Easy Credit Facilities. ...
5. Easier Return Filing. ...
6. Disadvantages of an OPC.
7. Tax Rate. ...
8. Need for Change.

Answer 2

Answer:

Here are some general features of a one-person company: Private company: Section 3(1)(c) of the Companies Act says that a single person can form a company for any lawful purpose. ... Minimum one director: OPCs need to have minimum one person (the member) as director. They can have a maximum of 15 directors.