Small company definition
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
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.