https://www.taxtmi.com/news?id=23675 The Ministry of Corporate Affairs increased the paid-up capital and turnover thresholds defining Small Companies under the Companies Act, 2013, expanding eligibility for reduced regulatory obligations. Eligible small companies are relieved from preparing a cash flow statement, must disclose only aggregate director remuneration in the annual return, are not subject to mandatory auditor rotation, face no auditor reporting requirement on internal financial control effectiveness, may hold only two board meetings annually, may have the annual return signed by the company secretary or a single director, and incur lower penalties and filing fees. en-us Wed, 03 Feb 2021 18:29:02 +0530 Wed, 03 Feb 2021 18:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=23675 The Ministry of Corporate Affairs increased the paid-up capital and turnover thresholds defining Small Companies under the Companies Act, 2013, expanding eligibility for reduced regulatory obligations. Eligible small companies are relieved from preparing a cash flow statement, must disclose only aggregate director remuneration in the annual return, are not subject to mandatory auditor rotation, face no auditor reporting requirement on internal financial control effectiveness, may hold only two board meetings annually, may have the annual return signed by the company secretary or a single director, and incur lower penalties and filing fees. News - Wed, 03 Feb 2021 18:29:02 +0530 https://www.taxtmi.com/news?id=23675