CARO
This query is : Resolved
02 March 2020
Dear Experts
The CARO amendments are applicable only to companies with turnover more than 10 crroes?
The CARO amendments are applicable only to companies with turnover more than 10 crroes?
02 March 2020
Monetary limit prescribed in CARO 2020 is to check its applicability to PRIVATE LIMITED Company which is not a holding or subsidiary of PUBLIC COMPANY.
In other words, CARO 2020 is not applicable to the above said company if ALL the following conditions are satisfied viz.,
* Paid up share capital + reserves do not exceed Rs. 1 crore and
* Borrowings do not exceed Rs. 1 crore and
* Total revenue do not exceed Rs. 10 crores.
In other words, CARO 2020 is not applicable to the above said company if ALL the following conditions are satisfied viz.,
* Paid up share capital + reserves do not exceed Rs. 1 crore and
* Borrowings do not exceed Rs. 1 crore and
* Total revenue do not exceed Rs. 10 crores.
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