Auditor's report - whether filing required

This query is : Resolved

Rajeswar (Querist)
Follow

04 January 2010 A private limited co. with AUTH. capi and paid up capital of Rs. 5 lacs (incorporated on 11-07-2007)has a turnover of Rs 5.5 lacs during the year 2008-09. the company has not taken any loan from any financial institution or bank.For the year 2007-08 & 2008-09, the company has loss.
Should the company file Auditor's report, while filing P&L, BS, Noitce and Director's report in Form 23AC?

Kindly clarify

regards

Ankur Garg

Ankur Garg (Expert)
Follow

04 January 2010 YES.

Filing of Auditor's report, along with BS, Noitce and Director's report in Form 23AC is mandatory.

Regards

Rajeswar

Rajeswar (Querist)
Follow

04 January 2010 Dear sir,

As per CARO,2003 1(2)(iv) the Companies Auditor's report is an exception to a private co. with paidup capital & reserves not more than 50 lacs and has not acceopted any public deposit and does not have loan ourstanding 10 las or more from any bank or financial institution and doed not have turnover exceeding Rs. 5 cr.

will the above company come under this exception?

If so , whether compliance of S. 227(2)of Companies act is essential?

Plz do clarify sir

regards

Ankur Garg

Ankur Garg (Expert)
Follow

04 January 2010 Come on my friend. Exemption is only for CARO requirement. Normal Audit report as per companies act, 1956 is very much required with form-23AC.

Regards

Ankur Garg

Ankur Garg (Expert)
Follow

05 January 2010 Also refer section 218 and 219 of the Companies Act, 1956.

Rajeswar

Rajeswar (Querist)
Follow

05 January 2010 Many thanks for ur clarification Sir

regards

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now