Prateek Singh (CA Intermdiate) (45 Points)
04 October 2011Hi all, can u please tell me da conditions for the applicability of CARO 2003 ?
Thanks & Regards
Prateek Singh
CA RICHA BADALIA
(CA,CS)
(1682 Points)
Replied 04 October 2011
CARO applies to all companies including foreign companies except:-
1.Banking Company
2.Insurance Company
3.Company u/s 25
4. PVT LTD CO. subject to the following condition (1).Aggregate of paid up capital & reserve should not exceed 50Lakhs (2).Loan outstanding from bank or financial institution should not exceed 25 Lakhs (3) Turnover should not exceed 5 crore.
CA. Urvashi Maharshi
(Member since 2008)
(627 Points)
Replied 16 January 2012
Rightly said by Ms. Richa
rohitjain
(Student )
(32 Points)
Replied 14 May 2012
In CasePVT LTD CO. subject to the following condition (1).Aggregate of paid up capital & reserve should not exceed 50Lakhs (2).Loan outstanding from bank or financial institution should not exceed 25 Lakhs (3) Turnover should not exceed 5 crore.
This above mention Condition are on cummulative Basis or on Individual Basis. Please Reply me As Soon As Possible
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