Quick Summary
Small Companies have relaxed compliance requirements under the Companies Act.
A Small Company is a private company with paid-up capital ≤ ₹4 crore and turnover ≤ ₹40 crore. They enjoy exemptions like holding only 2 board meetings annually, no cash flow statement requirement, etc.
Key Points
- Private company only
- Paid-up ≤ ₹4 crore
- Turnover ≤ ₹40 crore
- Relaxed compliance
- Only 2 board meetings required