Accounting · Company Law - OPC
Historically, what was the prescribed maximum threshold for paid-up share capital and average annual turnover for a One Person Company (OPC) under the original Companies Act rules?
- 1Paid-up share capital not exceeding ₹50 Lakhs and average annual turnover not exceeding ₹2 Crores✓
- 2Paid-up share capital not exceeding ₹20 Lakhs and average annual turnover not exceeding ₹1 Crore
- 3Paid-up share capital not exceeding ₹1 Crore and average annual turnover not exceeding ₹5 Crores
- 4Paid-up share capital not exceeding ₹2 Crores and average annual turnover not exceeding ₹50 Lakhs
Correct answer
Paid-up share capital not exceeding ₹50 Lakhs and average annual turnover not exceeding ₹2 Crores
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Preparing for Accounting?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Want more practice questions on Company Law - OPC?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Accounting · Company Law - OPC