Small company
This query is : Resolved
23 May 2016
Paid up Share Capital: 45 lakh
Reserve and Surplus: 40 lakh
Turnover on march 16 : 1.5 crores
Turnover on march 15 : 1.2 crores
Borrowings: 2 crores
The Company is a Small Company as per sec 2 clause 85 of companies act 2013 ? Is the CARO 2016 applicable? as small company falls into exception of applicability of CARO 2016? Whether it should be considered as small company or private limited company.
Reserve and Surplus: 40 lakh
Turnover on march 16 : 1.5 crores
Turnover on march 15 : 1.2 crores
Borrowings: 2 crores
The Company is a Small Company as per sec 2 clause 85 of companies act 2013 ? Is the CARO 2016 applicable? as small company falls into exception of applicability of CARO 2016? Whether it should be considered as small company or private limited company.
24 May 2016
Defination of Small Company does not include Free Reserves. CARO Act 2016 will not be applicable to Private Company having paid up share capital+ Free Reserves exceeding 50 Lakhs, and Turnover exceeding 5 crores and outstanding Loan and borrowing exceeding 25 Lakhs.
In the above case paid up share capital+ Free Reserves is exceeding 50 Lakhs. and borrowing is also exceeding 25 Lakh. so CARO will not be applicable.
In the above case paid up share capital+ Free Reserves is exceeding 50 Lakhs. and borrowing is also exceeding 25 Lakh. so CARO will not be applicable.
24 May 2016
as per CARO 2016, exception of pvt. ltd co. is as follows
a private limited company, not being a subsidiary or holding company of a public company, having a paid up
capital and reserves and surplus not more than rupees one crore as on the balance sheet date and whichdoes not have
total borrowings exceeding rupees one crore from any bank or financial institution at any point of time during the
financial year and which does not have a total revenue as disclosed in Scheduled III to the Companies Act, 2013
(including revenue from discontinuing operations) exceeding rupees ten crore during the financial year as per the
financial statements.
My borrowings are exceeding this limit, Caro 2016 will be applicable?
a private limited company, not being a subsidiary or holding company of a public company, having a paid up
capital and reserves and surplus not more than rupees one crore as on the balance sheet date and whichdoes not have
total borrowings exceeding rupees one crore from any bank or financial institution at any point of time during the
financial year and which does not have a total revenue as disclosed in Scheduled III to the Companies Act, 2013
(including revenue from discontinuing operations) exceeding rupees ten crore during the financial year as per the
financial statements.
My borrowings are exceeding this limit, Caro 2016 will be applicable?
25 July 2025
https://docs.google.com/document/d/1ArIcLKBSMO8pYrGvHrItLZAHKhyRcpt2hB_k9lUeROk/edit?usp=sharing
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
- STCG....................................................
- Supply through E-commerce Operators
- Sales return eway bill
- Relief u/s Section 89
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- TAN for Partnership
- STCG on ETF gold & silver
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- Loan by Partnership Firm
- Is it compulsory to File 10E if Income including Pension Arrears is below 12 Lakh for the F Y 25 26
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
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
