applicability of CARO 2004
This query is : Resolved
NIRU TULSYAN
(Querist)
25 September 2008
can some body solve some of my querries ????
1) a pvt ltd co. has paid up capital Rs.528750 & Reserves & surplus is Rs.14685921.27(including share premium Rs. 14381250 and Profit & loss a/c Rs.304671.27) on 31.03.08.It doesnt have any loan & the turnover is below 5 crores. Whether CARO 2004 is applicable to the company ?
2) if yes , whether internal audit as specified in CARO 2004 pt (vii) is required ? The paid up capital and reserves as at the commencement of the fy were 172500 and 506309.65(including Rs. 487500 share premium).
3)whether compliance certificate is required for this company ?
1) a pvt ltd co. has paid up capital Rs.528750 & Reserves & surplus is Rs.14685921.27(including share premium Rs. 14381250 and Profit & loss a/c Rs.304671.27) on 31.03.08.It doesnt have any loan & the turnover is below 5 crores. Whether CARO 2004 is applicable to the company ?
2) if yes , whether internal audit as specified in CARO 2004 pt (vii) is required ? The paid up capital and reserves as at the commencement of the fy were 172500 and 506309.65(including Rs. 487500 share premium).
3)whether compliance certificate is required for this company ?
25 September 2008
Paid up capital and reserves is > Rs 50 lakhs. Therefore CARO is applicable.
Internal audit is not required since paid up capital and reserves at the commencement of the year is < Rs.50 lakhs.
Compliance certificate is not needed since
capital is < Rs 10 lakhs.
Internal audit is not required since paid up capital and reserves at the commencement of the year is < Rs.50 lakhs.
Compliance certificate is not needed since
capital is < Rs 10 lakhs.
NIRU TULSYAN
(Querist)
08 October 2008
thank u sir for yr answer.
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