Is there any amendment in the limit of small company from earlier limit of :
PUSC - 50LAKH
TURNOVER - 2 CRORE ?
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Amendment in small company
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As per the new definition and threshold limits, companies with a paid-up capital of INR 2 crore or less, and turnover of INR 20 crore or less come are defined as small companies. The earlier threshold was INR 50 lacs or less in paid-up capital and INR 2 crore or less in turnover.
The government has amended the definition of a small company, which was applicable from 1st April 2021.
PSC- 2 Crore
Turnover - 20 Crore.
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