29 March 2016
Can Anyone Tell me to The Appropriate and "Direct"Source Of Info Where to Get The Exactly What Is The Right Definition..
of Small Company!
it is seems There is an update in definition
but When I looked At MCA site it still Showing Previous Wording..
enumerated like this
(85) ??small company?? means a company, other than a public company,?
(i) paid-up share capital of which does not exceed fifty lakh rupees or such
higher amount as may be prescribed which shall not be more than five crore
rupees;
or
(ii) turnover of which as per its last profit and loss account does not
exceed two crore rupees or such higher amount as may be prescribed which shall
not be more than twenty crore rupees:
please specify whether it is "And" Or "or"
30 March 2016
small company” means a company, other than a public company,— (i) paid-up share capital of which does not exceed fifty lakh rupees or such higher amount as may be prescribed which shall not be more than five crore rupees; [and]3 (ii) turnover of which as per its last profit and loss account does not exceed two crore rupees or such higher amount as may be prescribed which shall not be more than twenty crore rupees: Provided that nothing in this clause shall apply to— (A) a holding company or a subsidiary company; (B) a company registered under section 8; or (C) a company or body corporate governed by any special Act;
CAclubindia
