I have a Clint which has a company
private. Ltd In which 75 lakh is paid up capital can but we not submitted till date any cash flow statement with balance sheet what type of action possible, is it mandatory.,........
as per section 2(85) of companies act , a small company is defined based on two criterias. one is turnover limit as per profit & Loss account. or
2. Paid-up- capital of the company. if any of the criteria is met it will fall under the definition of small company.
Small companies need not have to prepare Cash Flow statements.
definition of small company is as below:
small company’’ means a company, other than a public company,—
(i) paid-up share capital of which does not exceed fifty lakh rupees or such
higher amount as may be prescribed which shall not be more than five crore
rupees; or
(ii) turnover of which as per its last profit and loss account does not
exceed two crore rupees or such higher amount as may be prescribed which shall
not be more than twenty crore rupees:
Provided that nothing in this clause shall apply to—
(A) a holding company or a subsidiary company;
(B) a company registered under section 8; or
(C) a company or body corporate governed by any special Act;
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