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Small company
dear frnds.
pls tell me that if a company has turnover of 2 crore exact and paid up capital of 50 lakh exact.
is it a small company?
Replies (1)
Sec. 2(85) uses the words, “…does not exceed…”.
So, the paid up capital should not exceed 50 lakhs AND turnover should not exceed 2 crores (as per last P&L).
Hence, it can be classified as a small company, provided it falls in the eligible category of company.
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