Is It Good To Start One Person Company In India?
One Person Company in India is a new concept introduced in the Companies Act 2013. Before the Companies Act 2013 came into force an individual could not form a company. An OPC has the characteristics of a company and the advantages of a sole proprietorship. Earlier if a person wanted to set up a business, he or she should only opt for a sole proprietorship. Under Section 2 (62) of the Companies Act 2013, a company can have only 1 director and 1 member.
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