Small company.

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CS Zehra

CS Zehra (Querist)
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06 August 2014 what are the advantage of small companies under companies act,2013

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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07 August 2014 1. The annual return of a Small Company can be signed by the company secretary alone, or where there is no company secretary, by a single director of the company.

2. A small company may hold only two board meetings in a year, i.e. one Board Meeting in each half of the calender year with a minimum gap of ninety days between the two meetings.

3. A small company need not include Cash Flow Statement as part of its financial statement.

4. Provision regarding mandatory rotation of auditor/maximum term of auditor being 5 years in case of an individual and 10 years in case of a firm of auditors is not applicable to an OPC.

Ankur Garg

Ankur Garg (Expert)
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07 August 2014 In addition to the above point:

1. Small company is not required pre-certification on various e-forms to be filed with ROC.

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