Applicability of caro 2003 to private companies

Accountant


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.  

 
Reply   
 
CA,CS


25 lakhs is correct.


Total likes : 2 times

 
Reply   
 


Chartered Accountnat CS

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


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
 

 
Reply   
 

2500000 is correct

 
Reply   
 

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


Total likes : 1 times

 
Reply   
 

Yes. 25 lacs is correct. 

 
Reply   
 
Member since 2008


25 Lakhs is the correct one.

 
Reply   
 

 

2500000 is correct

 

 
Reply   
 
CA student


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

 

 
Reply   
 

LEAVE A REPLY


    

Your are not logged in . Please login to post replies

Click here to Login / Register  



 


Search Forum:





close x