salman ibrahim (student) (49 Points)
23 November 2016
Jatin Bajaj
(CS)
(2930 Points)
Replied 25 November 2016
YES, IT ILL BE REGARDED AS THE SMALL COMPANY. ACCORDING TO SECTION 2(85) OF THE COMPANIES ACT 2013, IF YOUR COMPANY IS NOT A PUBLIC COMPANY AND AS PER YOUR STATEMENT PAID CAPITAL OF YOUR COMPANY IS 1 LAKH WHICH IS LESS THAN TRESHOLD LIMIT OF 50 LAKH AND YOUR COMPANY TURNOVER IS 2 CRORE WHICH IS EQUAL TO TRESHOLD LIMIT OF 2 CRORE.
aND THE aNNUAL RETURN SHALL BE SIGNED BY COMPANY SECRETARY IN JOB , BUT IF NO COMPANY SECRETARY, THEN BY THE DIRECTOR OF THE COMPANY
salman ibrahim
(student)
(49 Points)
Replied 28 November 2016
Sir what if my turnover exceeds 2 crores but my Paid up capital is below 50 lakhs . Will it still be a small company?
Jatin Bajaj
(CS)
(2930 Points)
Replied 29 November 2016
For the conditions of the small company to be satisfied, Company shall comply with both the above two conditions. If any of the one condition is not satisfied, then it is not regarded as the small company as per section 2(85) of the companies Act 2013.If your Company's turnover exceeds 2 crore then your company does not fall under the category of small company
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