Companies Act 2013 has granted exemption regarding holding of 2 board meetings in one financial year to small companies. A private limited company having a paid up share capital of Rs. 100,000/- and having turnover less than 2 crores will be recognised as a small company automatically or to get the recogition of Small company, it is required to do any compliances or formalities?
For qualifying as a small company, it is enough if either the capital is less than rupees fifty lakhs or turnover is less than rupees twenty crores. No need to comply any formalities to claim as a small company
Agree wid above replies...No need to do further compliance to claim as small company....provided its satisfying the conditions mentioned in Sec 2(85) of the companies at 2013.
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