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Applicability of CARO

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 July 2010 Hi

I have small doubt in applicability of CARO. Company has obtained a cash credit of Rs.45L during the year.

In verifying CARO applicability, whether the cash credit can be treated as loan for checking the loan outstanding exceeds 25L in the FY clause?

Kindly help me in this regard with relevant supportings.

Thanks in advance
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mohinder kansal

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mohinder kansal (Expert)
21 July 2010 yes cash credit will be treated as loan for the CARO purpose

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