What is small and dormant company?
Dear Student
As per companies act, A company other then public ltd. company whose paid up share capital does not exceed Rs 50 Lakhs and whose turnover does not exceeds Rs 2 Crore in the previous financial year is called a small company.
This simply means a private company which is in the limits written above is a small company.
As per companies act, A company which does not file Annual returns or any statutory filings required by law, and does not carry on business, as well as their, is no accounting transaction in the books of the company for a period of 3 consecutive years then such company is called as an Inactive company or dormant company.
Regards
As per companies act, A company other then public ltd. company whose paid up share capital does not exceed Rs 50 Lakhs and whose turnover does not exceeds Rs 2 Crore in the previous financial year is called a small company.
This simply means a private company which is in the limits written above is a small company.
As per companies act, A company which does not file Annual returns or any statutory filings required by law, and does not carry on business, as well as their, is no accounting transaction in the books of the company for a period of 3 consecutive years then such company is called as an Inactive company or dormant company.
Regards