Form 23ac - caro 2003
This query is : Resolved
27 May 2014
Dear Experts,
Kindly clarify my following queries:
In Form 23AC for ‘Details w.r.t. CARO 2003, should we select ‘Favourable Remarks’ or ‘Clause not applicable’ for the following:
A private company did not have Inventory.
A private company did not accept Public Deposits.
A private company did not allot Shares or make any preferential allotment.
Note: CARO applies to the company, as it had availed TL from Bank for more than Rs.25 Lacs.
Kindly guide me on the above queries.
Thanks a lot.
Kindly clarify my following queries:
In Form 23AC for ‘Details w.r.t. CARO 2003, should we select ‘Favourable Remarks’ or ‘Clause not applicable’ for the following:
A private company did not have Inventory.
A private company did not accept Public Deposits.
A private company did not allot Shares or make any preferential allotment.
Note: CARO applies to the company, as it had availed TL from Bank for more than Rs.25 Lacs.
Kindly guide me on the above queries.
Thanks a lot.
27 May 2014
'Clause not applicable' shall be selected in all the three issues raised.
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