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Could you pl clarify whether one of our client falls under the definition of "Small Company" whose paid up capital is 16.60 crores and turnover of 9 crores for the financial year ending 31st March 2014?

Small Company

Posted By: Balachandran 10 year(s) ago

This question has been closed if you want to answer,you have to re-open.


    Akansha

In the cited case such company shall not fall under the definition of small company as it crosses the threshold limits prescribed u/s 2(85) of the Act .

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    shalini

‘‘small company’’ means a company, other than a public company,— (i) paid-up share capital of which does not exceed 50 lakh rupees or such higher amount as may be prescribed which shall not be more than five crore rupees; or (ii) (ii) turnover of which as per its last profit and loss account does not exceed 2 crore rupees or such higher amount as may be prescribed which shall not be more than 20 crore rupees: Provided that nothing in this Section 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; Your company does not comes under any of the above said category. Its not a "SMALL COMPANY"

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