Small comapny
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 January 2015
what are the benefits for a company being a small company under companies act 2013
CS Mitesh Mehta
(Expert)
03 January 2015
1. a small company has been exempted from
the mandatory requirement of preparing cash flow statement as part of its financial statement.
2. the annual return can be signed by the director where there is no company secretary.
3. Small companies are exempt from the requirement of mandatory rotation of
statutory auditors. The auditor in a small company may continue to serve for any number of years without any requirement of cooling off period in between.
4.At least one meeting of the Board of Directors has been conducted in each half of a calendar year and the gap between the two meetings is not less than 90 days.
5. Fees for filings and other formalities as prescribed under section 403 of the Companies Act, 2013 read with Companies (Registration of Offices and Fees) Rules, 2014 is comparatively lower for the small
companies.
the mandatory requirement of preparing cash flow statement as part of its financial statement.
2. the annual return can be signed by the director where there is no company secretary.
3. Small companies are exempt from the requirement of mandatory rotation of
statutory auditors. The auditor in a small company may continue to serve for any number of years without any requirement of cooling off period in between.
4.At least one meeting of the Board of Directors has been conducted in each half of a calendar year and the gap between the two meetings is not less than 90 days.
5. Fees for filings and other formalities as prescribed under section 403 of the Companies Act, 2013 read with Companies (Registration of Offices and Fees) Rules, 2014 is comparatively lower for the small
companies.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Nursery business
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
