Criteria for classification of non-corporate entities as decided by the Institute of Chartered Accountants of India
Level II Entities (SMEs)
Non-corporate entities which are not Level I entities but fall in any one or more of the following categories are classified as Level II entities:
(i) All commercial, industrial and business reporting entities, whose turnover (excluding other income) exceeds rupees one crore* but does not exceed rupees fifty crore in the immediately preceding accounting year.
(ii) All commercial, industrial and business reporting entities having borrowings (including public deposits) in excess of rupees one crore but not in excess of rupees ten crore at any time during the immediately preceding accounting year.
(iii) Holding and subsidiary entities of any one of the above.
No comments:
Post a Comment