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Applicability of caro 2003 to private companies


As pe RTP issued by ICAI, CARO 2003 shall apply to all Companies (including foreing companies)  subject to Following,

Insurance Companies, Banking Companies, Sec 25 companies and 

Private Companies , 1 with paid up capital & reserves not more than 5000000

                           and   2 outstanding loan not exceeding rs. 1000000

                          and   3  turnover not exceeding Rs 50000000,

But In Study Material of Audit PCC & other places limit of outstanding loan is given RS 2500000 instead of Rs 1000000 (as ginen in RTP NOV 2001)

please suggest me which one in updated or correct.  

 
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25 lakhs is correct.


Total thanks : 2 times

 
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Chartered Accountnat CS

In rtp they had copied d old limit. Go with 25 lac only hope v all clear nov 11 xam

 
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Originally posted by : praveer

As pe RTP issued by ICAI, CARO 2003 shall apply to all Companies (including foreing companies)  subject to Following,

Insurance Companies, Banking Companies, Sec 25 companies and 

Private Companies , 1 with paid up capital & reserves not more than 5000000

                           and   2 outstanding loan not exceeding1000000

                          and   3  turnover not exceeding50000000,

But In Study Material of Audit PCC & other places limit of outstanding loan is given2500000 instead of1000000 (as ginen in RTP NOV 2001)

please suggest me which one in updated or correct.  

ok, i have resolved my doubt from bare act. thanks
 

 
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2500000 is correct

 
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abe ghonchoo jab study meterial saamne hai to RTP Mein kyon solution dhoond raha hai.CA Ban raha hai ya PA


Total thanks : 1 times

 
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Yes. 25 lacs is correct. 

 
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25 Lakhs is the correct one.

 
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2500000 is correct

 

 
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hello 

for first condition please explain 

paid up capital and reserve here mean is after adjusting P& L (Dr Bal) and Misc expenditure or before adjusting 

 

Thanks and regards

Ritesh

 

 
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