Please help me with applicability of CARO 2016 on private companies.I see three conditions for non applicability of CARO on private companies.If my company satisfies both conditions of borrowing and turnover but does not satisfy share capital of more than 1 crore.Is it required to prepare CARO report?
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Caro 2016
Replies (2)
Yes, For non applicability all of three CARO, 2016 conditions must be satisfied..
If any of three conditions not satisfy, then CARO will be applicable..
So in your case ,(Paid up capital+reserve) exceed 1 crore, CARO 2016 is applicable...
Applicable
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