AB Ltd has borrowed INR 1,25,00,000 from directors . No borrowing from financial institutions and bank during the year. Whether CARO applicable for AB Ltd or not ?
1 Replies
madhavendra shenoy
(4 Points)
Replied 01 January 2022
Exemption given is only for certain private companies which fulfill certain cumulative creteria. Since in the instant case, it's a Public Company, CARO should be applicable.
Recent Topics
- Profit or Loss on Sale of Assets Accounting treatm
- Clarification on RCM on Rent Payment for QRMP Deal
- Reclaimed itc in gstr9
- Gamification in Accounting Software: Boosting Enga
- I want to knw Hsn code and gst rate of resin produ
- Schedule FA clarification
- Income tax on freelance income from crypto
- ITC temporary reversal and reclaim
- Query on Transactions
- Two GSTN under different PAN in same address
Related Threads
CAclubindia
