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Applicability of CARO
Is CARO applicable to a private company having a paid up capital of Rs. 1,50,00,000 and having a loss of Rs. 80,00,000 under Reserves and Surplus?
Replies (2)
CARO, 2016 shall not be applicable on Small Companies (Companies with Paid up capital less than or equal to Rs. 50 Lakhs and Last reported turnover less than or equal to Rs. 2 Crores). Profit or Loss doesn't play any role.
No CARO won't be applicable Aarathi. you have to take net amount for applicability
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