TaxTMI 
TaxTMI 
We have paid up capital ₹ 30.00 Lakhs and Turnover in last financial year is 25-00 crore, whether we will be small company as per section 2(85) of company Act.
please explain in details with any amendment in law.
Small company as per Company Act.
28 Nov 2019 
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Small company status ends if paid-up capital or turnover exceed prescribed statutory thresholds under the Companies Act.
Eligibility for Small company status requires that a non-public company meet both the paid-up share capital threshold and the turnover threshold in the immediately preceding financial year; failure of either test causes loss of the status and attendant exemptions. The definition expressly excludes holding and subsidiary companies, section 8 companies, and companies governed by special Acts, so such entities cannot be treated as small companies even if quantitative thresholds are met. (AI Summary)
Eligibility for Small company status requires that a non-public company meet both the paid-up share capital threshold and the turnover threshold in the immediately preceding financial year; failure of either test causes loss of the status and attendant exemptions. The definition expressly excludes holding and subsidiary companies, section 8 companies, and companies governed by special Acts, so such entities cannot be treated as small companies even if quantitative thresholds are met. (AI Summary)