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Gituparna Sarma

Co-founding Entrepre...ย โ€ขย 21h

Starting a Company in India Can Eat You Alive โ€” Even if Youโ€™re Broke Tag your CA friends, theyโ€™ll cry too. Started an OPC thinking it's "just a formality"? Even if you made โ‚น0, 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 = โ‚น100/day fine. Want to shut down? Cool โ€” but: No assets/liabilities File STK-2 + solvency docs Pray MCA doesnโ€™t ask questions. Pro Tip: Skip fancy CAs. Bargain hard โ€” โ‚น5kโ€“โ‚น10k audit deals exist. Try CAclub, IndiaFilings, or your CA cousin. Thinking of ghosting? Youโ€™ll get notices, a โ€œdefaultingโ€ tag, director ban, โ‚น1โ€“5L finesโ€ฆ maybe jail. If you're just testing ideas: Sole prop + Udyam + GST > OPC headache. TL;DR: OPC isnโ€™t for broke hustlers. File, strike off, or suffer. Stay broke. Stay safe.

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