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Small company

Ankush (Student) (1364 Points)

31 July 2020

please help with the definition and limits

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Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 31 July 2020

Section. 2(85) ‘‘small company’’ means a Pvt Ltd company,—

(i) paid-up share capital up to fifty lakh and

(ii) turnover of which as per its last profit and loss account is up to two crore rupees.

But following companies can't be small company.

(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;
(d) Public company.