OPC,Dormant & Small companies and Private Co. having paid up capital less than 100 crore out of twenty company audit limit w.e.f. 05-6-2015

Notification No. F. No. 1/1/2014-CL.V  Dated : 5-6-2015

Exemptions to Private Companies under section 462 of CA 2013

Chapter X, Clause (g) of sub-section (3) of section 141.

 OLD

a person who is in full time employment elsewhere or a person or a partner of a firm holding appointment as its auditor, if such persons or partner is at the date of such appointment or reappointment holding appointment as auditor of more than twenty companies

NEW

a person who is in full time employment elsewhere or a person or a partner of a firm holding appointment as its auditor, if such persons or partner is at the date of such appointment or reappointment holding appointment as auditor of more than twenty companies other than one person companies, dormant companies, small companies and private companies having paid-up share capital less than one hundred Crore rupees.