Applicability caro, 2016
This query is : Open
06 September 2016
Dear Experts,
A Private Limited Company having
A. Paid up capital Rs 31.25 Lac
B. Share Premium - Rs 82.35 L
C. Profit & Loss A/c (Cr Bal)- 7.25 Lac
D. Loan- Nil
E. Turnover Rs 4.53 Crore
Please confirm whether CARO-2016 will be applicable or not
A Private Limited Company having
A. Paid up capital Rs 31.25 Lac
B. Share Premium - Rs 82.35 L
C. Profit & Loss A/c (Cr Bal)- 7.25 Lac
D. Loan- Nil
E. Turnover Rs 4.53 Crore
Please confirm whether CARO-2016 will be applicable or not
06 September 2016
Applicable, since share premium has to be treated as reserve vide schedule III of companies Act,2016.
06 September 2016
Thanks Sir,
Please send format of Audit Report (CARO-2016) in word format...
Please send format of Audit Report (CARO-2016) in word format...
07 September 2016
Annexure-1 referred to in paragraph 1 under the heading “Report on Other Legal and Regulatory Requirements” of our Report of even date.
Re: .......................... Limited (“the Company”).
i. (a) The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets.
(b)Fixed assets have been physically verified by the management at reasonable intervals during the year and no material discrepancies were identified on such verification.
ii. (a) Physical verification of inventory has been conducted at reasonable intervals by the management and no material discrepancies were noticed on such verification.
iii. According to the information and explanations given to us, the company has not granted any loans, secured and unsecured to companies, firms or other parties covered in the register maintained under section 189 of the Companies Act, 2013. Accordingly, the provisions of clause 3(iii) (a) ,(b) and (c) of the order are not applicable to the company and hence not commented upon.
iv.( a) The company has no undisputed statutory dues ,hence on the regularity of depositing such dues with appropriate authorities are not being commented upon.
(b) The company has disputed dues of direct and indirect tax to be deposited with the appropriate authorities . The amount involved and the forum where dispute is pending is given hereunder.
Particulars of Tax Assessment year Amount Disputed in Rs. Forum before dispute is pending
INCOME TAX 2009-2010 8,88,378/- CIT(Appeals)/EKM
-Do- 2010-2011 11,43,308/- -Do-
Financial Year Amount Disputed in Rs. Forum before dispute is pending
SERVICE TAX 2006-2007 To
2010-2011 35,18,095/- CCE(Appeals)/EKM
(v) In view of the nature of business carried on by the Company clause No.3 (xii) of the order referred to in para 3 of our report of even date are not applicable to the company.
Further in view of the absence of conditions prerequisite to the reporting requirement, clause No.3(i)(c), (iii),(iv), (v), (vi), (viii),(ix), (x),(xi),(xiii),(xiv),(xv) and (xvi) of the said order are, at present, not applicable to the company.
For ..............................& ASSOCIATES
CHARTERED ACCOUNTANTS
FRN: .............S
CA. K.K. ......................., FCA
(Partner)
M.No. .............
Re: .......................... Limited (“the Company”).
i. (a) The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets.
(b)Fixed assets have been physically verified by the management at reasonable intervals during the year and no material discrepancies were identified on such verification.
ii. (a) Physical verification of inventory has been conducted at reasonable intervals by the management and no material discrepancies were noticed on such verification.
iii. According to the information and explanations given to us, the company has not granted any loans, secured and unsecured to companies, firms or other parties covered in the register maintained under section 189 of the Companies Act, 2013. Accordingly, the provisions of clause 3(iii) (a) ,(b) and (c) of the order are not applicable to the company and hence not commented upon.
iv.( a) The company has no undisputed statutory dues ,hence on the regularity of depositing such dues with appropriate authorities are not being commented upon.
(b) The company has disputed dues of direct and indirect tax to be deposited with the appropriate authorities . The amount involved and the forum where dispute is pending is given hereunder.
Particulars of Tax Assessment year Amount Disputed in Rs. Forum before dispute is pending
INCOME TAX 2009-2010 8,88,378/- CIT(Appeals)/EKM
-Do- 2010-2011 11,43,308/- -Do-
Financial Year Amount Disputed in Rs. Forum before dispute is pending
SERVICE TAX 2006-2007 To
2010-2011 35,18,095/- CCE(Appeals)/EKM
(v) In view of the nature of business carried on by the Company clause No.3 (xii) of the order referred to in para 3 of our report of even date are not applicable to the company.
Further in view of the absence of conditions prerequisite to the reporting requirement, clause No.3(i)(c), (iii),(iv), (v), (vi), (viii),(ix), (x),(xi),(xiii),(xiv),(xv) and (xvi) of the said order are, at present, not applicable to the company.
For ..............................& ASSOCIATES
CHARTERED ACCOUNTANTS
FRN: .............S
CA. K.K. ......................., FCA
(Partner)
M.No. .............
12 September 2016
Sir,
Please share draft audit report portion on matter related to adequacy of IFC (internal financial controls ) for small sized pvt ltd company
Please share draft audit report portion on matter related to adequacy of IFC (internal financial controls ) for small sized pvt ltd company
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