Small Company

Section 2 (85) "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; and

(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;

No both the conditions relating to turnover and psc required to be complied simultaneously

as per recently amended provisions it will be small company

amended provision 

paid up capital 2 crore

Turnover 20 crore

w.e.f. 01.04.2021.