Dear Members, Greetings for the day!
If a company is having Paid up share capital of More than 1 crore, Borrowings and Turnover more than 1 crore and 10 crore but it is covered under section 2(85) "Small Company" , whether CARO 2020 will be applicable ?
Menu
Applicability regarding CARO 2020
Replies (3)
CARO 2020 is not applicable to a private limited company, not being a subsidiary or holding of a public company if all of the following conditions are satisfied:
- having a Paid-up capital & Reserves & Surplus not more than ₹1 Cr. as on the balance sheet date, and
- does not have total borrowings exceeding ₹1 Cr. from any bank or financial institution at any point of time during the financial year, and
- does not have a total revenue exceeding ₹10 Cr. during the financial year as per the financial statements.
Dear Sir,
Kindly update whether CARO 2020 is applicable on Holding and Subsidiary companies, where both the holding and subsidiary companies are Private Limited Companies and both holding and subsidiary companies are small companies.
Dear Member,
Kindly update whether CARO 2020 is applicable on Holding and Subsidiary companies, where both the holding and subsidiary companies are Private Limited Companies and both holding and subsidiary companies are small companies.
Regards
Rajat Pandya
Recent Topics :
- Utilising Section 54(F) for capital gains reinvest
- GST ewaybill closure and Bill to ship to GST numbe
- TDS ON PARNTER INTEREST
- Share important chapters of ca inter costing
- Free CA Foundation Study Material - PYQs with Sugg
- INCOME TAX
- Moving from old to new tax regime after notice
- Need urgent help on notice
- ITR-3 - F&O Loss adjusted against business inc
- Error - Blank Rows in Schedule SI (ITR-2)
Related Topics :
CAclubindia
