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Discussion > Audit > Others >

Applicability of caro 2003 to private companies

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Accountant

[ Scorecard : 361]
Posted On 29 October 2011 at 16:46 Report Abuse

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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CA RICHA BOTHRA
CA,CS

[ Scorecard : 1654]
Posted On 29 October 2011 at 17:26

25 lakhs is correct.



Total thanks : 2 times




Rahul
Company Secretary CA FINAL Nov 2014

[ Scorecard : 1519]
Posted On 29 October 2011 at 19:56

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



praveer
Accountant

[ Scorecard : 361]
Posted On 04 November 2011 at 21:12

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
 




yash bhatia
student

[ Scorecard : 40]
Posted On 13 December 2011 at 15:08

2500000 is correct




Vaibhav Upadhyay
ARTICLE

[ Scorecard : 40]
Posted On 14 January 2012 at 15:46

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



Sonam Bidasaria
CA

[ Scorecard : 765]
Posted On 14 January 2012 at 18:24

Yes. 25 lacs is correct. 




Urvashi Maharshi
CA FINAL

[ Scorecard : 483]
Posted On 16 January 2012 at 17:38

25 Lakhs is the correct one.




CA Pankaj Goswami
Assistant Manager

[ Scorecard : 27]
Posted On 30 January 2012 at 14:21

 

2500000 is correct

 




Ritesh khurana
CA student

[ Scorecard : 171]
Posted On 09 February 2012 at 13:10

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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