Caro rules
N.VINAY KUMAR (Student CA Final ) (28 Points)
03 October 2013
Dear Experts,
As per the CARO Rules 2003, a private company which has it's paid up capital and Reserves exceeding Rs.50 lacs will come under the virtue of the rules.
A private company which has a paid up capital of Rs.1,00,00,000 and Reserves of Rs.(1,50,00,000)i.e, the net is Rs.(50,00,000).
is CARO applicable because it's combined paid up capital and Reserves doesn't exceed Rs.50 lacs??
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