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Under Section 2(85) (with the 2022 Rules), a 'small company' is a private company whose paid-up capital does not exceed Rs 4 crore and whose turnover does not exceed:
ARs 10 crore
BRs 2 crore
CRs 40 crore
DRs 100 crore
Answer & Solution
Correct answer: C. Rs 40 crore
Per the 2022 Rules, a small company has paid-up capital up to Rs 4 crore and turnover up to Rs 40 crore; holding/subsidiary/Section 8/special-Act companies are excluded.
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