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CARO applicability : A pvt co has paid up capital of Rs. 10 lacs and reserve of Rs. 50 lacs. Turnover -Rs. 1 crore. Hence CARO has been applicable for last many years on the basis of paid up & reserves more than Rs. 50 lacs. This year it also becomes a small company under the Companies Act, 2013 as paid up is less than Rs. 50 lacs. Will CARO continue to be applicable this year as well ?

Auditors

Posted By: Manouj agrawaal, fca, partner 9 year(s) ago

This question has been closed if you want to answer,you have to re-open.


Expert    Ankit Singhi

Small companies are exempted under Companies (Auditor's Report) Order,2015 which was issued vide notification dated April 10, 2015

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