Caro requirement
This query is : Resolved
Ashok Agarwal
(Querist)
20 August 2007
in case a companys accumlated losses is more than 50% of its net worth and the company has not taken any loan from any bank or financial institution, then what is the requirement as for as the caro is concerned.
Ashok Agarwal
(Querist)
20 August 2007
Ashok Agarwal
(Querist)
21 August 2007
SUBRAMANIA SARMA G
(Expert)
21 August 2007
These two aspects are different requirements of reporting by the auditors in their report and in case the accumulated losses are more than 50% of the net worth the same has to be reported in the report. It is to be further reported that whether the company has incurred cash losses either in this year or in the immediately previous financial year. If the company has not taken any loan from bank or financial institution,the same mey be reported for or report that the clause is not applicable and hence not reported. It is suggested that the author of the querry hs to go through the guidance note issued by the ICAI where they have explained the reporting requirements elaborately
Munish K Sharma
(Expert)
21 August 2007
Please also not that company should have been registered for not less than five years.
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Capital Gail Exemption Certificate
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Issuing of delivery challan by seller of goods
- MSME disclosure and disallowance
- Taxation of crypto futures in India Fy 2026- 2027
- EPF ECR NEW RULES Sep 17th 2026
- Accounting treatment of AMC alongwith the purchase of Laptop
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- 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
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
