New Delhi: In a significant move, the Ministry of Corporate Affairs has yet again revised the threshold limit for paid-up capital of "small companies". Earlier, the definition of "small companies" under the Companies Act, 2013 was revised by increasing their thresholds for paid-up capital from "not exceeding Rs 50 lakh" to "not exceeding Rs 2 crore" and turnover from "not exceeding Rs 2 crore" to "not exceeding Rs 20 crore".
This definition has, now, been further revised by increasing such thresholds for paid up Capital from "not exceeding Rs. 2 crores" to "not exceeding Rs. 4 crores" and turnover from "not exceeding Rs. 20 crores" to "not exceeding Rs. 40 crores".
