Caro 2003 and cost audit applicability ( new form 23ac)

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Querist : Anonymous

Querist : Anonymous (Querist)

01 October 2012 Dear Experts

As per new form 23AC , there is selection of CARO and Cost audit applicability.Pl advice in which situations it is applicable and how.

Pl reply asap. thanks.

aadish

aadish (Expert)
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01 October 2012 CARo Applicability-private
Limited companies, conditions for non-applicability: 1. paid up capital and reserves not more than Rs.50 Lacs and 2. which doesn’t have loan outstanding exceeding Rs.25 from any bank or Fin instn and 3. doesn’t have turnover of turnover of Rs.5 crores at any point of time during the financial year, and all the three conditions has to be satisfied for caro's non applicability, if one of them breaches then caro will be APPLICABLE.

FOR COST AUDIT APPLICABILITY REFER THE FOLLOWING LINK.
http://www.casansaar.com/articles-detail/Cost-Audit-Applicability-2011-12-and-2012-13/800.html

Querist : Anonymous

Querist : Anonymous (Querist)

01 October 2012 In our case is 10.43 crores,it means CARO is applicable . what should be done while uploading form 23AC regarding caro. plz reply

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aadish

aadish (Expert)
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03 October 2012 yes caro is applicable.
Go through the following link, in this link u can find instructions regarding filing of form 23AC.
http://www.mca.gov.in/MCA21/dca/help/instructionkit/1103-Form23ACXbrl_help.PDF

aadish

aadish (Expert)
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03 October 2012 This is for Form 23AC XBRL Filing.

aadish

aadish (Expert)
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03 October 2012 http://www.icai.org/resource_file/13129Notification_12-9-08_Form23AC.pdf

this link is for Instructions for filing form 23AC non xbrl.