According to section 2 definition of small company, paid up capital and turnover limit can go up to 10 crores and 100 crores respectively as may be prescribed but in Amendment rules (Specification of Definition details, 1st Feb 2021) it is stated that paid up capital and turnover shall not exceed two crores and twenty crores respectively. So if there is a company with 3 crores paid up capital and 25 crores turnover, will it be categorized as small company?
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Small company eligibility criteria, Companies Act 2013
Replies (3)
Yes it is considered as a small company.
According to definition, they say that the limit can go up to 10 crores and 100 crores for PUSC and turnover respectively in future by notification by government.
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According to definition, they say that the limit can go up to 10 crores and 100 crores for PUSC and turnover respectively in future by notification by government.
If you are satisfied with my reply then please like.
Thank you
Yes it will be considered
The company with 3Cr paid up capital & 25 Cr turnover will not be considered to be a small Company as both the limits are to be fulfilled at the same time. If any of the limit is exceeded it will not be considered to be a small company
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