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Incorporated: INC-5 | Download Free Templates
Team Lawyered
1. What is Form INC - 5?
Form INC - 5 is related to the Intimation of exceeding threshold limit by one person Company as per the provisions of Rule 6 (4) of the Companies Incorporation Rules.OPC is required to provide this form informing that they have ceased to be an OPC by exceeding the threshold limit by an increase in their annual turnover or share capital. This form should be filed within 60 days of exceeding the threshold.
2. Why is it Important?
It is important for OPC which are looking to convert itself into a Private limited Company or a Public Company. If the paid-up capital of an OPC exceeds fifty Lakhs or its annual turnover increases by two crores. This form requires the attachment of financial statements, a certificate from CA for calculation of average annual turnover.
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Team Lawyered
Lawyered is a legal tech initiative designed to change the way people interact with and within the legal industry. We believe that access to critical services like legal should be just a click away. Our team is working to bring legal online, making it cost effective, high quality and accessible for all.
Sophie Asveld
February 14, 2019
Email is a crucial channel in any marketing mix, and never has this been truer than for today’s entrepreneur. Curious what to say.
Sophie Asveld
February 14, 2019
Email is a crucial channel in any marketing mix, and never has this been truer than for today’s entrepreneur. Curious what to say.