Caro 2003 and cost audit applicability ( new form 23ac)
This query is : Resolved
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.
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.
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
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
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
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
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.
this link is for Instructions for filing form 23AC non xbrl.
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