CARO Applicability-to Pvt.Ltd.Co.
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Sonnal Khandaray
(Querist)
31 January 2022
Hi All
One of my clients is a private limited company with a turnover of Rs. 9 Crs. They do not have any loans. Their share capital is Rs. 1.20 Crs. Is CARO provisions get applicable to them ?
Thanks in advance.
One of my clients is a private limited company with a turnover of Rs. 9 Crs. They do not have any loans. Their share capital is Rs. 1.20 Crs. Is CARO provisions get applicable to them ?
Thanks in advance.
CA R SEETHARAMAN
(Expert)
31 January 2022
CARO provisions not applicable as turnover less than 10 crores.
31 January 2022
Exemption condition is not satisfied since capital > 1 crore, hence CARO,2016 is APPLICBALE to the said company.
Sonnal Khandaray
(Querist)
01 February 2022
Whether all conditions are cumulative or exclusive?
Even if one condition get satisfied whether CARO gets applicable?
Even if one condition get satisfied whether CARO gets applicable?
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