The Ministry of Corporate Affairs (MCA) has amended the definition of “small companies” under the Companies Act, 2013 vide notification dated 15.09.2022.

Now the Companies with paid up capital limit of 4 crores and turnover limit of upto 40 Crores would be treated as “small companies.”

Earlier, 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”.

Download the official notification: