Under company's act 2013

1. New Concept introduced under Companies Act, 2013

2. Definition under the Companies Act, 2013 This is the new concept
introduced under Companies Act, 2013 to give certain advantages to
small businesses in India. Section 2 (85) of the Companies Act,
2013 defines Small Company as: a) b) "small company" means a
company, other than a public company paid-up share capital of
which does not exceed fifty lakh rupees or such higher amount as
may be prescribed which shall not be more than five crore rupees;
and* turnover of which as per its last profit and loss account does
not exceed two crore rupees or such higher amount as may be
prescribed which shall not be more than twenty crore rupees.

3. Provided that nothing in this Section shall apply to—
(A)a holding company or a subsidiary company;
(B)a company registered under Section 8; or
(C)a company or body corporate governed by any special Act.
* The word 'and' in the definition above have been inserted
vide Ministry of Corporate Affairs Order Dated 13th
February, 2015. Earlier the word 'or' was being used.

4. Board Meeting -
 Sufficient if it conducts 2 Board Meeting in a Year.
 Signing of Annual Return It can be signed by a CS or by a
Director of the Company.
 Rotation of Auditors Not required
 Cash Flow Statement Not required to prepare