According to section 2 definition of small company, paid up capital and turnover limit can go up to 10 crores and 100 crores respectively as may be prescribed but in Amendment rules (Specification of Definition details, 1st Feb 2021) it is stated that paid up capital and turnover shall not exceed two crores and twenty crores respectively. So if there is a company with 3 crores paid up capital and 25 crores turnover, will it be categorized as small company?
3 Replies
CA Aakarsh Jain
(CA)
(10431 Points)
Replied 10 November 2021
Yes it is considered as a small company.
According to definition, they say that the limit can go up to 10 crores and 100 crores for PUSC and turnover respectively in future by notification by government.
If you are satisfied with my reply then please like.
Thank you
According to definition, they say that the limit can go up to 10 crores and 100 crores for PUSC and turnover respectively in future by notification by government.
If you are satisfied with my reply then please like.
Thank you
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 11 November 2021
Yes it will be considered
preeti garg
(23 Points)
Replied 17 November 2021
The company with 3Cr paid up capital & 25 Cr turnover will not be considered to be a small Company as both the limits are to be fulfilled at the same time. If any of the limit is exceeded it will not be considered to be a small company
Recent Topics
- Share office desk in bkc, near family court
- 80D claim for payment paid by parent
- TDS on purchase of Flat under subvention scheme be
- Nznxnc call me at the end of the day of the
- Nsje snswk fjw ed le ene djff ne enje ejdd rejje
- Hxjcif the day I have been in touch with me and
- Iska djd djrbdsjebshe sir ur rei ejr reinr the jr
- GST registration for medical shop in Karnataka
- Hsshs me know if you are free number of the
- Chu Kang and the situation of the situation and I
Related Threads
CAclubindia
