Immediately preceding Financial year

[Bhakti Talikot]

Dear members

 in terms of definition of small company : Pls guide for the term immediately preceding financial year?

For Example IF in FY 17-18 The turnover exceeds the limit then whether it is small company for the purpose of audit.

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Thanks & Regards

CS Bhakti Talikot

M/s Bhakti Talikot & Associates

PH. 9822594632
off. (0253) 2350607
Office: Flat No. 03, Kunwar Apartment,

Behind Reliance Petrol Pump,

Near Perfect Circle, Pipeline Road,
Nashik 422007

[MADHUMITHA IYER]

I too have the same question.  But I think it should not be interpreted to be a Small Company, because we are concerned with last year Turnover.

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[CS V Kartik]

If you are doing Annual filing for 2017-18 & if in that FY, the turnover exceeds ₹2 crs, then it will be determined as a large company

[Bhakti Talikot]

Yes,

That is what actully i was considering the interpretation.

Thank u.

Bhakti

On Sat, Nov 17, 2018 at 8:40 PM CS V Kartik <karv...@gmail.com> wrote:

If you are doing Annual filing for 2017-18 & if in that FY, the turnover exceeds ₹2 crs, then it will be determined as a large company

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