Dear Friends
I wanted to know, whether Debit Balance in Profit & Loss Account are considered for computing the limits of Free Reserves in case of Private Limited Company, for the applicability of CARO?
Will it be added when computing the limits or set off against the existing reserves or no effect is to be given?
the debit balance in P&L will be adjusted against Revenue Reserve & after that the applicability of CARO will be decided.
O P Bagla & Co LLP
New Delhi
CA Inter
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Karia Overseas
Ahmedabad
CA
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Vardhaman Group of India
Pimpri Chinchwad
CA Inter
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CAclubindia
