CARO Applicability-to Pvt.Ltd.Co.

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Sonnal Khandaray (Querist)
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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.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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31 January 2022 CARO provisions not applicable as turnover less than 10 crores.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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31 January 2022 Exemption condition is not satisfied since capital > 1 crore, hence CARO,2016 is APPLICBALE to the said company.

Sonnal Khandaray

Sonnal Khandaray (Querist)
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01 February 2022 Whether all conditions are cumulative or exclusive?
Even if one condition get satisfied whether CARO gets applicable?

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