Complete dominance of the business by a single owner : Quick decision-making and action are the results of this. However, you are permitted to designate up to 15 directors in the OPC for administrative tasks without involving them in decision-making.
Tax savings and flexibility : A legitimate contract between an OPC firm and its shareholders or directors is possible. As a result, you can be paid as a director, receive rent as a landlord, and lend money to your own business while collecting interest as a creditor. Directors' salary, rent, and interest are deductible costs that lower the company's profitability and, as a result, lower your company's taxable income.
Organised ownership sector : The organised version of a limited liability company will integrate the unorganised real estate market, according to OPC. There are numerous SMBs that can operate as sole proprietors and enter the corporate world. A more organised OPC will make room for more benevolent banking options. Owners are always liable indefinitely. The member's responsibility is constrained if the owner conducts business via an OPC.
Fee for Compliances : The definition of "Private Limited Company" found in section 2 (68) of the 2013 Companies Act includes sole shareholder companies. As a result, an OPC will have to abide by the rules that apply to private businesses. OPCs, on the other hand, have fewer compliance requirements because they have been granted a number of exemptions.
