A One Person Company (OPC) in India is required to file annual returns and financial statements with the Ministry of Corporate Affairs (MCA) and also file income tax returns. OPCs are taxed as private limited companies at a flat rate of 25% (if turnover is below ₹400 crore) and must comply with GST regulations if applicable. Audit is mandatory if the annual turnover exceeds ₹1 crore.

Conclusion
Adhering to tax and compliance requirements ensures the legal standing of an OPC, helps in building credibility, and avoids penalties while maintaining financial discipline.