CARO 2016 applicability

Yes, CARO is applicable.

companies auditor's report order

CARO 2016 would not applicable if the following conditions satisfied by the pvt company:

1. Paid up capital + Reserve <= 1Cr            and

2. Borrowing < 1Cr                                     and

3.Turnover < 10Cr                                

In this case, caro not applicable.

there is and instead of or @ radha.. so u have to fullfil all the three conditions then caro will applicable

Caro applicable

Thanks for the information but would like to know the purpose and format of reporting 

Suhas Basu 

Membership No 052684

As per the provisions we have to see the aggregate balance of paid up capital and reserves as on balance date. Whether it is debit balance of reserves or credit balance.

So i will suggest that Caro 2016 is not applicable because on balance sheet date the aggregate balance of paid up capital and reserves are less than Rs. 1 crore.(I.e. Rs 0.87 crore). 

I am assuming that company is fulfilling additional two conditions also, which are relevant for availing the exemption.

Actually the Reserve & surplus balance is Dr. so want to ask whether consider the aggregate of paid up +  Reserve & surplus which would be less than 1cr.?? now whether the CARO-16 Applicable???