Can i get the format of statutory audit report for the financial year 2013-2014 (assessment year 2014-2015)
Piyush Kumar Pankaj (Student) (24 Points)
18 July 2014Can i get the format of statutory audit report for the financial year 2013-2014 (assessment year 2014-2015)
Harshit Kumar Bansal
(Chartered Accountant)
(47 Points)
Replied 19 July 2014
for the company or for others?
if company, caro applicable or not?
Pooja Mundra
(Article Assistant)
(43 Points)
Replied 19 July 2014
CARO came into force on 1-7-2003. It applies to all Companies, including foreign companies defined u/s.591 of the Companies Act (Act). It is, however, provided that this order shall not apply to follow-ing companies :
(i) A banking company
(ii) An insurance company
(iii) A company registered u/s.25 of the Act
(iv) A private limited company which satisfies the following conditions :
(a) Its paid up capital and reserves do not exceed Rs.50 lacs;
(b) It has not accepted any public deposits;
(c) Its turnover does not exceed Rs.5 crores; and.
(d) Its outstanding loan from any bank or financial institution does not exceed Rs.10 lacs.
If any of the above conditions are not satisfied, the above order will apply to the private limited company.
Thanks
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