The Government has revised the definition of Small Companies for Ease of Doing Business. MSME Helpline is also committed to supporting Small Companies. To get the support of the MSME Helpline in the incorporation of your small companies and their compliances thereafter, please provide your details in the following form:

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The government has redefined small companies to increase the threshold for paid-up capital and turnover. The Ministry of Corporate Affairs (MCA) said that these measures were taken to facilitate the ease of doing business.

The ministry issued a notification to the effect that “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 crore” to “not exceeding Rs 4 crore” and turnover from “not exceeding Rs 20 crore” to “not exceeding Rs 40 crore”.
Small companies have the following benefits over non-small companies:
i. No need for preparing cash flow statements as part of the financial statement,
ii. May prepare and file an abridged annual return,
iii. There is no requirement for mandatory rotation of auditors,
iv. No need for the auditor of a small company to report on the adequacy of the internal financial controls and its operating effectiveness,
v. Small Companies can hold only two board meetings a year,
vi. Signing of the annual return of the company by the company secretary or director of the company, and
vii. There are lesser penalties for small companies.

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