small company definition

[CS A Rengarajan]

Recently the following threshold limit has changed 

“(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.”.

Most of the companies are coming under Small companies definition.  

Now  the following questions are arises

1)   There is no need for PCS certification  for small companies  and increase the turnover and paid up capital no need for professional certifications

2)  Whether  ICSI  is taking any steps for the additional revenue for PCS

Members view solicited

Regards

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A. Rengarajan

Mobile 9381011200 

[CS V Kartik]

This amendment in definition of small companies has killed the revenue of several PCS's. Can't help such situation.

Kartik

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[CS A Rengarajan]

What will be impact on the following news items in addition to small companies

Prime Minister Narendra Modi on Friday said the government plans to do away with more than 6,000 compliance requirements for businesses both at the central and state levels this year to facilitate ease of doing business in India.

“We are going to take it seriously. We have to get rid of the requirement to fill up umpteen forms. Your suggestions are crucial," Modi told industry leaders while addressing a webinar on the production-linked incentive (PLI) scheme.

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[Rajesh]

The Institute should reduce the intake of students and stop misguiding them about the scope of CS Profession.

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[CS V Kartik]

Exactly. The paas % is still the same. The entry point should be made so tuff that people will quit in the initial stage rather than repenting after spending so many years of being stuck in the middle of the ocean.

Kartik

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[Law Firm]

Dear Learned Friends,

Do not be disheartened.  Despair not.  Incompetent bureaucrats and semi literate politicians cannot destroy the fabric of our society or let  disillusionment set into minds of hard working professionals.

The parent body ought to espouse the cause of the Fraternity and steer the dispensation, especially Parliamentarians, in the right direction :  Both to enhance the stature of CS profession as well as turn Good Governance into a reality rather than remain mere lip service.

In these trying times all world is facing, stay safe(look after yourself) and let all have each other's back to collaborate, share and draw up a detailed Paper for seeking the Honourable President of India's intervention to reset policies and help uplift the career satisfaction and augment economy.

The spirit should not sag. Stay strong, stay confident and brainstorm to arrive at ways and means to expand the scope of practice.

The Institute must reign in support of Industry and Chambers of Commerce, to help reinforce faith of Professionals in the system.

Just a humble submission. No offence meant or empathy towards sufferings of Fellow Professionals.

Best regards, 

PVR 

Delhi 

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[CS Nagpur]

Hii Members

It's just not about the PCS but also about the CS in employment in 2020 as they have changed the Rule from 10 cr to 5 cr for appointment of CS in Pvt companies. These also affect CS in employment and Especially fresher CS. 

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