Quick Summary
MCA revises threshold for paid up capital of small companies Latest revision to facilitate Ease of Doing Business further and reduce compliance burden on small companies The Ministry of Corporate Affairs (MCA) has taken several measures in the recent past towards ease of doing business and ease of living for the corporates. These included decriminalisation of various provisions of the Companies Act, 2013 the LLP Act, 2008, extending fast track mergers to start ups, incentivising incorpora
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Community
- Daily E-Newsletter
- Unlimited News Access
- Profile Visitors
- Link Social Profiles
- Featured Job Posts
- Pro Badge
- Expert GST Guidance
- Unlimited Forum Replies
- Download Content in PDF
1 Year PLAN
1999
(Excl. of GST ₹359)
BEST VALUE
2 Years PLAN
3499
(Excl. of GST ₹629)
3 Months PLAN
999
(Excl. of GST ₹179)
View all CCI PRO benfits
Already a PRO member? Login here for an ad-free experience.
FAQ :
The new threshold for paid-up capital for small companies has been revised to not exceeding £4 crore.
The turnover threshold for small companies has been increased to not exceeding £40 crore.
The revision is intended to further facilitate ease of doing business and reduce the compliance burden on small companies.
Benefits include not needing to prepare a cash flow statement, filing an abridged annual return, no mandatory auditor rotation, and fewer board meetings.
No, the auditor of a small company is not required to report on the adequacy and effectiveness of internal financial controls.
CAclubindia
