CARO Reporting

The CARO report is an integral part of a company's statutory audit report and is not filed separately with the Income Tax authorities. Instead, it's submitted as part of the overall audit report. While companies must get their accounts audited and file financial statements with the ROC, the specific submission of the audit report depends on the governing statute. For instance, tax audit reports go to the Income Tax Department, while reports under the Companies Act are addressed to the company's members.