hi
what is applicability of CARO.?
should all condition or any 1 is enough for CARO applicability.?
Karan S Shah (Article) (36 Points)
01 July 2010hi
what is applicability of CARO.?
should all condition or any 1 is enough for CARO applicability.?
praveen
(Chartered Accountant)
(6971 Points)
Replied 01 July 2010
CARO Applicability: The order shall be applicable to:
Explanations:
Application of even one provision will attract CARO
Sumit Jain
(CA)
(4760 Points)
Replied 01 July 2010
praveen is correct
any one limit exceed is enough to made caro applicable
Sumit Jain
(CA)
(4760 Points)
Replied 01 July 2010
if any limit exceed once during any part of the year
caro will be applicable
it is not necessary to check these limit on year end
Rahul Gupta
(Project Controller ACA MBA(Fin.))
(8019 Points)
Replied 05 July 2010
Agreed. If any of the limit touches at any time in year.CARO will be applicable.