Caro applicability
This query is : Resolved
Manoj Prasad
(Querist)
14 September 2016
A Private Limited Company having paid up capital Rs.68,24,180/- and Reserve & Surplus negative Balance of Rs. (-) 2,29,66,000/-, Please let me know whether CARO applicable or not for F.Y. 2011-12
CA SUNIL K GARG
(Expert)
14 September 2016
In case of private limited company, caro will be applicableonly if satisfies one of the following conditions:-
1.paid up share capital & free reserves exceeds Rs. 50 lakhs
2. Loan outstanding from any bank or financial institutions exceeds Rs. 25 lakhs
3. Turnover exceeds Rs. 5 crores in any day during the financial year.
Even if one of the above condition is satisfied then CARO is applicable.
1.paid up share capital & free reserves exceeds Rs. 50 lakhs
2. Loan outstanding from any bank or financial institutions exceeds Rs. 25 lakhs
3. Turnover exceeds Rs. 5 crores in any day during the financial year.
Even if one of the above condition is satisfied then CARO is applicable.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Nursery business
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Tax on Amount transferred in HUF Account
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
