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Small company
New Small company definition
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Paid up share capital upto 50 L and turnover upto 2 cr is a small company
PCS as may be higher prescribed but not more than 10 crore and T/O as per last Profit and loss account prescribed but not more than 100 crore
why two limits are specified
it is because a higher amount of capital and higher amount of turnover may be prescribed by the government based on conditions prevailing and other factors bu the said higher limit should not be beyond the prescribed limit.
if company increases it's paid up capital from 1 lakh to I crore in March 2019 and it's turnover is less than two crore...what it's status for filing pas-3.is certification required ?
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