Budget 2021, New Definition for Small Companies proposed
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
- Old – Not exceeding 50 Lakhs
- New- Not exceeding 2 crores
Turnover
- Old- Not exceeding 2 crores
- New- Not exceeding 20 crores
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