Applicabilty of caro2016
This query is : Resolved
Shivam Saraogi
(Querist)
23 May 2016
Dear Sir,
The Company is having paid up share capital of RS. 15 lakh and having a turnover of Rs 2.1 crore in March 2016 and Rs 1 crore in March 2015. Is it a Small Company?
Private Limited company Can be considered as a small company?
how to categorise between small and private limited company?
The Company is having paid up share capital of RS. 15 lakh and having a turnover of Rs 2.1 crore in March 2016 and Rs 1 crore in March 2015. Is it a Small Company?
Private Limited company Can be considered as a small company?
how to categorise between small and private limited company?
Jatin Bajaj
(Expert)
24 May 2016
According to Section 2(85) of Companies ACT 2013, Small Company means a Company other than public Company of which paid up share capital shall not exceed 50 Lakh Rupees and Turnover as per the last audited Profit and Loss account exceeds 2 crore rupees.
Small Company cannot be holding and Subsidiary of any Company
Small Company cannot be the Company registered under section 8 of Companies Act
If the Company which croses any of the limit mentioned , ithen it will be the Private Company.
However Private Company which is subsidiary of Public Company is deemed to be the Public Company.
however in your case turnover is in excess of 2 crore, so it would not be a Small Company. it will be a Private Company.
Small Company cannot be holding and Subsidiary of any Company
Small Company cannot be the Company registered under section 8 of Companies Act
If the Company which croses any of the limit mentioned , ithen it will be the Private Company.
However Private Company which is subsidiary of Public Company is deemed to be the Public Company.
however in your case turnover is in excess of 2 crore, so it would not be a Small Company. it will be a Private Company.
Jatin Bajaj
(Expert)
24 May 2016
But as per last audited PNL Account i.e. as on 31st March 2015, it will be considered as Small Company.
Jatin Bajaj
(Expert)
24 May 2016
But as per last audited PNL Account i.e. as on 31st March 2015, it will be considered as Small Company.
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