Small Companies under Companies Act 2013
Small companies are those: -
1. Having paid-up share capital of not more than Rs. 50 lakhs or amount prescribed, however the prescribed amount must not exceed Rs. 5 Crores; or
2. As per the last profit and loss account, turnover must not exceed Rs. 2 Crores or amount prescribed, however the prescribed amount must not exceed Rs. 20 Crores.[Section 2 (85)]
3. Certain exemptions are provided to small companies with regard to Annual Accounts, Annual Return, board meetings, and procedure for mergers/amalgamations.
Following types of companies can not be small companies:
1. Public limited companies;
2. Holding or Subsidiary companies
3. Section 8 Companies
4. Companies or bodies corporate governed by any special Act.