Applibality of caro 2015
Querist : Anonymous
I shall be thankful.
CARO Act 2015 shall not be applicable to a Private Company having paid up share capital of 50 lakhs Rupees and Turnover exceeding 5 crores Rupees.
So in the above case, CARO Act will be applicable.
Querist : Anonymous
please clear my doubt. I shall be grateful. Thanks a lot.
Querist : Anonymous
Is the definition of small company includes reserve and surplus or only paid up capital.
My doubt is still there. Thanks.
As per CARO 2015, CARO act shall not be applicable to Private Limited Company having paid up share capital and free reserves exceeding 50 Lakhs. so in your case also, Paid up share capital is 1lakh and Free Reserves are 55 Lakhs which is exceeding 50 lakhs. SO CARO 2015 will not be applicable on your Company.
Querist : Anonymous
Please read your reply again. Thanks.
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