IndigoLearn

Forums

All Topics Accountancy Auditing Corporate & Other Laws Direct Taxation Indirect Taxation Financial Management Economics Costing Strategic Management Maths & Stats Exams Others AFM Financial Reporting CFA Level I

Small company definition

Corporate & Other Laws

The books that I have received now gives the definition of small company according to pre budget 2021,what is the new definition for small company? Should I write the new or old definition in nov 2021 exam

lithish kumar

CA Final

★ 3K+

26-Feb-21 16:49

326

Answers (1)

In the new definition, proposed changes relate to enhancing the limits: Paid up capital from â??not exceeding `50 Lakhâ?? to â??not exceeding `2 Croreâ?? and turnover from â??not exceeding `2 Croreâ?? to â??not exceeding `20 Croreâ?? For exams, ICAI should give out notification for amendments, wait un till then.