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Corporate & Other Laws

For a small company the paid-up share capital and turnover limits are 50Lakhs and 2Crores as per definition of companies act BUT its given as 4Crores and 40Lakhs in as per companies rules which one should we write in exam?

Monika T

CA Inter

★ 7K+

03-Apr-24 16:02

132

Answers (2)

Best Answer

No, The definition of Small Company as per recent amendments is have set the bar at a maximum of 4crores for paid up share capital and 40 crores for turnover.

Sj Spam

CA Inter

★ 3K+

03-Apr-24 18:13

The recent amendments to the Companies (Specification of Definitions Details) Rules, 2022, have set the bar at a maximum of Rupees 4 Crores for paid-up capital and Rupees 40 Crores for turnover. These thresholds serve as crucial benchmarks, delineating Small Companies from larger entities.

Ag Spam

CMA Inter

★ 10K+

03-Apr-24 18:13

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