Please explain the limits of private co on which caro 2003 is appilcable?
payal gupta
(ca final student)
(482 Points)
Replied 31 May 2013
if during the year pvt.co has following limits caro 2003 will be NOT applicable to it
these limits are
1. paid up capital & free reserves<=50lakh
2. loan o/s<=25lakh (in aggregate of all banks etc)
3. turnover<=5crores
IF ANY OF THESE LIMITS ARE EXCEEDS THEN CARO WILL BE APPLICABLE TO THESE CO.
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