Studycafe | Feb 1, 2021 |
Govt to Revise Definition of Small Companies: FM
New Definition for Small Companies proposed in Budget 2021 on Feb 01, 2021. The government on Monday said definition of small companies will be revised by raising capital base to Rs 2 crore from the current limit of Rs 50 lakh.
The FM has proposed to revise the definition under the Companies Act, 2013 for small companies by increasing their threshold for capitalization.
New Threshold is as follows:
Threshold Limit
Turnover
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