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Small company query
company paid up capital 3812100 and turnover of Rs 87,36,07,804 .can I considered this as small company?
Replies (6)
No for a Small Company the Paid-up share capital should not exceed Rs, 50 Lakhs and its Annual Turnover should not exceed Rs. 2 Crores.
Not a small co. As per defined in 2 (85)
paid up capital means paid up capital plus reserves and surplus
In order to be a small company it has to comply both the Clauses of Section 2(85) i.e., the Turnover shall be less than or equal to Rs 2.00 crores & Paid up capital shall be less than or equal to Rs.50.00 lacs.
I know this but my question is whether for small company paid up capital means paid up capital or its paid capital plus reserves and surplus
it should be noted that turnover for the previous year
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