Small company definition updated to set specific paid-up capital and turnover caps; changes effective from April 1, 2021. The Amendment Rules, 2021 add clause (t) to rule 2(1) of the Companies (Specification of Definitions Details) Rules, 2014, specifying that for sub-clauses (i) and (ii) of clause (85) of section 2 of the Act, the paid-up capital and turnover of a small company shall not exceed rupees two crores and rupees twenty crores respectively; the amendment is effective from 1 April 2021.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Small company definition updated to set specific paid-up capital and turnover caps; changes effective from April 1, 2021.
The Amendment Rules, 2021 add clause (t) to rule 2(1) of the Companies (Specification of Definitions Details) Rules, 2014, specifying that for sub-clauses (i) and (ii) of clause (85) of section 2 of the Act, the paid-up capital and turnover of a small company shall not exceed rupees two crores and rupees twenty crores respectively; the amendment is effective from 1 April 2021.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
