"Shall not apply to a private company:-
(i) which is a one person company or a small company; or
(ii) which has turnover less than rupees fifty crores as per latest audited financial statement or which has aggregate borrowings from banks or financial institutions or any body corporate at any point of time during the financial year less than rupees twenty five crore.”.
With reference to Notification No. G.S.R. 583 (E) dated 13.06.2017, which granted exemptions to private companies, there is a query regarding the inclusion of specific types of borrowings.
Specifically, the question is whether secured car loans from banks and unsecured debentures from body corporates should be included in the calculation or not. Could you kindly provide clarification on whether these types of borrowings are considered for the exemption?
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exemptions
Are there any exemptions or relaxations available from the application of Section 180?
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section
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Hi Professionals!
Is there any relaxation for not constituting CSR Committee even when Section 135 is applicable to the Companny?
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Hi Folks!
What is the treatment for stamp duty issues, both in terms of original incorporation and conversion from other business structures? Would there be any stamp duty exemption in case of conversion?
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Hello Professionals!
Whether a supplier of goods or services supplying through ecommerce operator would be entitled to threshold exemption?
What are the Income Tax and GST Exemption for SEZ based Companies ?
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Dear Everyone!
Can a Section 8 Company can issue redeemable preference shares?
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Dear Members!
Whether a person acting in multiple capacities such as insurance agent, pension advisor, mutual fund distributor, etc. is exempted from obtaining registration under SEBI (IA Regulations), 2013 ?
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Hello Members!
As per SEBI (Prohibition of Insider Trading) Regulations, 2015
If a spouse is financially independent and does not consult an insider while taking trading decisions, is that spouse exempted from the definition of ‘immediate relative’?
Dear Members,
How to determine the credit attributable to exempt supplies in cases where the inputs/input services are used for effecting exempt supplies in addition to taxable supplies?
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under 141 (1)(g) a person who is in full time employment elsewhere or a person or a partner of a firm holding appointment as its auditor, if such persons or partner is at the date of such appointment or reappointment holding appointment as auditor of more than twenty companies;
Note: In case of private company - in clause (g) of sub-section 3 after the words twenty companies”, the following words shall be inserted;
“other than one person companies, dormant companies, small companies and private companies having paid-up share capital less than one hundred crore rupee”- Notification dated 5th june, 2015
But 5th June Notification is only applicable if Company is in compliant of Section 134 & 92 related to ROC Filing Annually , therefore whats the consequences if Auditor appointed for 5 years and given Consent under section 141 but not able to find the applicability of Exemption on that specific Private co. ? Please someone who can understand my issue related to the Auditor appointment subject to Exemption on Private Company from the ambit of 20 co limit then please clear ...
MCA Exemption Notification 15.06.2015 not applicable if :
The exceptions, modifications and adaptations provided shall be applicable only to those Private Companies which has not committed a default in filing its financial statements under section 137 of the said act or annual return under section 92 of the said act with the registrar
