Caro
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 December 2014
APPLICABIITY OF CARO ON PRIVATE COMPANY
31 December 2014
A private limited company which satisfies the following conditions :
1. a private limited company with a paid up capital and reserves not more than Rs. 50 Lakhs and
2.which does not have loan outstanding exceeding Rs. 25 Lakhs from any bank or financial institution and
3.does not have a turnover exceeding Rs. 5 Crores at any point of time during the financial year.
CARO will not apply to private company
In order to be exempt from the applicability of CARO , Private company must satisfy all the above conditions at any point of time during the financial year.
1. a private limited company with a paid up capital and reserves not more than Rs. 50 Lakhs and
2.which does not have loan outstanding exceeding Rs. 25 Lakhs from any bank or financial institution and
3.does not have a turnover exceeding Rs. 5 Crores at any point of time during the financial year.
CARO will not apply to private company
In order to be exempt from the applicability of CARO , Private company must satisfy all the above conditions at any point of time during the financial year.
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