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Caro report

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Querist : Anonymous

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Querist : Anonymous (Querist)
11 February 2013 when is CARO report is prepared i.e., along with tax audit report or with statutory audit report.
If a company is having statutory audit period as jan to dec then, along with statutory audit report, is it required to prepare CARO report.
kindly help.
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kunal

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kunal (Expert)
11 February 2013 CARO report IS prepared only when any of the following condition is satisfied

1) turnover exceeds RS 5 crore or
2) loans form financial institution exceed RS 25 lakh or
3) share capital and reserve & surplus exceed RS 50 lakh
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CA Lokesh Pokharna

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CA Lokesh Pokharna (Expert)
11 February 2013 first of all caro report requirement is related to statutory audit report..yes caro report is applicable .period is not important.
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