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    What exemptions were provided to private limited companies through Notification no. 583 (E) dated 13.06.2017?

    Posted By : SHALU / Published on : 08-Jul-2023 10:14 AM / View : 226 / Comment : 0

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    "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?
    Read more on : through notification dated companies limited were provided private exemptions

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