Extend Company Notification For Free

As per the new definition and threshold limits, companies with a paid-up capital of INR 2 crore or less, and turnover of INR 20 crore or less come are defined as small companies. The earlier threshold was INR 50 lacs or less in paid-up capital and INR 2 crore or less in turnover.

The MCA vide General Circular No. 04/2023 dated February 21, 2023 extended the time for filing of 45 company e-Forms and PAS-03 in MCA 21 Version 3.0 without additional fees till March 31, 2023.

New Definition of a Small Company The Finance Minister proposed a revised definition of a small company while presenting the Union Budget 2021. The revised definition came into effect on 1 April 2021. The MCA further amended the definition of a small company on 15 September 2022.

Companies (Amendment) Bill, 2020 was introduced in Lok Sabha on 17-3-2020. The Bill was passed and converted into Act by Parliament on 28-9- 2020. Various provisions of the Amendment Act were have been made effective from time to time on 21-12-2020, 22-1-2021, 11-2-2021, 18-3-2021, 24-3-2021, 1-9-2021 and 1-7-2022.

The clause reads as follows: ?(t) For the purposes of sub-clause (i) and sub-clause (ii) of clause (85) of section 2 of the Act, paid up capital and turnover of the small company shall not exceed rupees two crores and rupees twenty crores respectively.?

On , the Ministry of Corporate Affairs (?MCA?) vide its Notification No. GSR 354(E), issued the Companies (Removal of Names of Companies from Register of Companies) Second Amendment Rules, 2023 to further amend the Companies (Removal of Names of Companies from the Register of Companies) Rules, 2016.

On January 23, 2023, the Ministry of Corporate Affairs (MCA) introduced the Companies (Incorporation) Amendment Rules, 2023. ing to the amendment, the name of the nominee for the owner of a One Person Company (OPC) must be mentioned in the memorandum of the OPC.

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