Starting a Company in India Can Eat You Alive — Even if You’re Broke Tag your CA friends, they’ll cry too. Started an OPC thinking it's "just a formality"? Even if you made ₹0, the govt wants an audit like you're Infosys. Statutory Audit = Mandatory Even if: No revenue No customers Just a bank account You're broke Still need a CA to audit your 3-page misery. Deadlines that bleed: Audit: Sept 30 AOC-4: Oct 30 MGT-7A: Nov 29 Miss these = ₹100/day fine. Want to shut down? Cool — but: No assets/liabilities File STK-2 + solvency docs Pray MCA doesn’t ask questions. Pro Tip: Skip fancy CAs. Bargain hard — ₹5k–₹10k audit deals exist. Try CAclub, IndiaFilings, or your CA cousin. Thinking of ghosting? You’ll get notices, a “defaulting” tag, director ban, ₹1–5L fines… maybe jail. If you're just testing ideas: Sole prop + Udyam + GST > OPC headache. TL;DR: OPC isn’t for broke hustlers. File, strike off, or suffer. Stay broke. Stay safe.
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