21 June 2011
Can anybody explain me what is the definition of Small and medium enterprises (SME)? what are the conditions to be fulfilled to come under its preview?
22 June 2011
“Small and Medium Sized Company” (SMC) means, a company- (i) whose equity or debt securities are not listed or are not in the process of listing on any stock exchange, whether in India or outside India; (ii) which is not a bank, financial institution or an insurance company ; (iii) whose turnover ( excluding other income ) does not exceed rupees fifty crore in the immediately preceding accounting year; (iv) which does not have borrowings ( including public deposits) in excess of rupees ten crore at any time during the immediately preceding accounting year; and (v) which is not a holding or subsidiary company of a company which is not a small and medium - sized company.
Explanation:- For the purposes of the above clause , a company shall qualify as a Small and Medium Sized Company, if the conditions mentioned ther ein ar e satisfied as at the end of the relevant accounting period. (2) Words and expressions used herein and not defined in these rules but defined in the Act shall have the same meaning respectively assigned to them in the Act.
From where you got this definition / Explanation as because it is totally different from the definition given in "Micro, Small and Medium Enterprises Development Act, 2006"
22 June 2011
Can anybody suggest on the following under Micro, Small and Medium Enterprises Development Act, 2006 (SME)?
1. Is Stock Broking Company is eligible to become SME, if yes, then what should be considered will calculation of Turnover (vale of the shares purchased or sold should be taken or only brokerage is to be considered) 2. What is the definition of the term “Equipment” under the act and what all items to be included & excluded from the calculation of the “Investment in Equipments” 3. Procedure for the registration of the Company under SME 4. Merits & Demerits of SME
CAclubindia
