Dear all members
My query is that why CARO is not applicable on banking co. and insurance co.
Thanks in advance !!
Menu
Caro
Replies (1)
Para 1(2) of CARO 2003 states that it will not apply to insurance and banking companies. The reason is that such companies are covered under special Acts of Parliament and such matters are taken care of by the respective statutes. In case of insurance companies, IRDA has made separate regulations for the same.
Recent Topic
- India GST Mobile App
- Reporting STCG on non equity oriented MF
- Section 54F exemption for buying a plot
- My client missed to file ITR 3 for AY 25-26
- Subscription/Membership fees
- Inverted tax gst refund
- Mismatch of pincode and district while registering
- Total income less than 12 lakhs but after processi
- Is Getsvision Solutions right for SMTP bulk email
- Queries on Stock/ETF gifting.
Related Topics
CAclubindia
