Paramjeet Singh Gulati (Assistant) (221 Points)
02 October 2015
Deepak Gupta
(CA Student)
(15922 Points)
Replied 04 October 2015
Sec. 2(85) uses the words, “…does not exceed…”.
So, the paid up capital should not exceed 50 lakhs AND turnover should not exceed 2 crores (as per last P&L).
Hence, it can be classified as a small company, provided it falls in the eligible category of company.
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