Q.1. Is CARO applicable to subsidiary or holding company of a private company even if not crossed specified limits?
Q.2.If CARO is applicable for one year. Should they report every year even if fell under specified limits?
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CARO applicability to companies in Group
Replies (1)
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Subsidiaries: Any private company that is a subsidiary or holding of a public company is not eligible for the CARO exemption reserved for independent private companies, regardless of its size.
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Annual Applicability: CARO applicability is not a "once applicable, always applicable" rule. It must be reassessed each financial year. If a company qualifies as a "Small Company" in a later year (and is not a subsidiary of a public company), it will become exempt again for that year.
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