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Small Company

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(Querist)
24 November 2016 Dear Experts, Kindly tell me monetary limit of Turnover for being a Small company it is Rs.2cr or 20cr ???
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CS Peer mehboob

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CS Peer mehboob (Expert)
24 November 2016 In case of small company, the paid up capital does not exceed Rs.50 Lacs and Turnover does not exceed Rs.2 Cr. or such higher amount as may be prescribed. That limit of Rs. 5 cr. for paid up capital and Rs. 20 Cr. for Turnover is for the government who cannot prescribe limit for small companies under sec.2(85) more than Rs.5 cr. and Rs. 2Cr. for paid up capital and turnover respectively. So, small company means a private company having paid up capital not exceeding Rs.50 lacs and Turnover not exceeding Rs.2 cr.
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