One of my clients turnover is more than Rs. 10 crs., paid up share capital is more than Rs. 1 cr. But it doesnt have any borrowings. Whether CARO provisions will be applicable to such private limited company?
Sonal (CA Final) (382 Points)
05 January 2021One of my clients turnover is more than Rs. 10 crs., paid up share capital is more than Rs. 1 cr. But it doesnt have any borrowings. Whether CARO provisions will be applicable to such private limited company?
CA. Sourav Sarkar
(Chartered Accountant )
(24578 Points)
Replied 05 January 2021
Spurto Consultancy Services
(Consultant)
(1891 Points)
Replied 05 January 2021
Yes it will be applicable. CARO 2020 has been made applicable from 1st April 2021
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