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Question ID : 34805

Applicability of CARO in FY 2017-18

Whether CARO is applicable to following Co.? 1. Turnover: Rs 28.08 Crore 2. Paid up share plus Reserve: Rs 23.03 crore 3. Borrowing: NIL

Posted by CA. GHOSH SAMRAT on Sep 13, 2018

Filed Under Companies Act, 2013

Answer ID : 73963

Pvt ltd cos are exempted from applicability of CARO 2016 if paid up capital plus reserve is less than 1 cr, borrowing is less than 1 cr and turnover is less than 10cr. In your case it caro should be applicable even in case it is a pvt ltd company

Posted by Deepak Gupta on Sep 22, 2018