Friday, June 16, 2017

Exemption to Cashflow Statement / IFCR for Small Companies

MCA amended notification dated 5 June 2015, granting certain exemption to certain categories of companies. Key additional exemptions for:
Private Companies
  • Exemption from presentation of cash flow statement for one person company, small company, dormant company and private company (if such private company is a start-up)  
  • Auditors’ reporting on internal financial control will not apply to (i) one person company, (ii) small company, or (iii) a private company having turnover less than INR 50 crores as per latest audited financial statement or having aggregate borrowing from banks or financial institution or any body corporate at any point of time during the financial year less than INR 25 crores

Notification is enclosed for your reference:

 

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Exemption to Cashflow Statement / IFCR for Small Companies

MCA amended notification dated 5 June 2015, granting certain exemption to certain categories of companies. Key additional exemptions for: ...