Applicability of caro 2003 to private companies

25 lakhs is correct.

Originally posted by : praveer
	As pe RTP issued by ICAI, CARO 2003 shall apply to all Companies (including foreing companies)  subject to Following, Insurance Companies, Banking Companies, Sec 25 companies and  Private Companies , 1 with paid up capital & reserves not more than 5000000                            and   2 outstanding loan not exceeding1000000                           and   3  turnover not exceeding50000000, But In Study Material of Audit PCC & other places limit of outstanding loan is given2500000 instead of1000000 (as ginen in RTP NOV 2001) please suggest me which one in updated or correct.

ok, i have resolved my doubt from bare act. thanks
 

2500000 is correct

abe ghonchoo jab study meterial saamne hai to RTP Mein kyon solution dhoond raha hai.CA Ban raha hai ya PA

Yes. 25 lacs is correct. 

25 Lakhs is the correct one.

hello 

for first condition please explain 

paid up capital and reserve here mean is after adjusting P& L (Dr Bal) and Misc expenditure or before adjusting 

Thanks and regards

Ritesh

Debit balance is not to be deducted for calculating the limit of capital and reserve

Is CARO applicability to be checked on a yearly basis or is it so that once it is applicable it  will always be applicable. Please reply.

Paid up capital and reserve is after deducting Dr. bal. in PL A/c But loss shall be deducted from revenue Reserve only and not from the capital.