Some Criteria used by IT department to select Income Tax Scrutiny:
One Person Company (OPC) -The Next Big Thing In India.
The revolutionary new concept of 'One Person Company' (OPC) has been introduced by the Companies Act, 2013. OPC provides a whole new bracket of opportunities for those who look forward to start their own ventures with a structure of organized business. An OPC has been doing well in the Europe, USA and Australia. In India, this concept of OPC is set to organise the unorganised sector of proprietorship and partnership firms by better regulation and control. Few salient features of OPC are:
In the upcoming years an OPC will have a promising future for Indian Entrepreneurship. OPC will give the young businessman all benefits of a private limited company which categorically means they will have access to credits, bank loans, limited liability, legal protection for business, access to markets etc all in the name of a separate legal entity.