Definition of Small Company

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*Small Company means a company registered on or after the first day of July, 2005, under the Companies Ordinance, 1984 (XLVII) of 1984, which:

  1. has paid up capital plus undistributed reserves not exceeding **[fifty] million rupees
  2. ***has employees not exceeding two hundred and fifty any time during the year
  3. has annual turnover not exceeding two hundred ****[and fifty] million rupees; and
  4. is not formed by the splitting up or the reconstitution of company already in existence

 


*Inserted by the Finance Act, 2005.

**The word “twenty-five”substituted by the Finance Act, 2015.

***Inserted by the Finance Act, 2007.

****Inserted by the Finance Act, 2007.

 

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