Easy to remember CARO, 2015 – Part 1

1. CARO, 2015 Applicability:

CARO, 2015 is all companies including Foreign Company u/s. 2(42)
but
not applicable to:
“One Small Private B I L”
i.e.
One Person Company
Small Company
Private Company (with some conditions)
Banking Company
Insurance Company
License Company u/s. 8

Private Company conditions:

CARO, 2015 is not applicable to Private Company if following conditions are satisfied:
(Paid up share capital + Reserves)
shall not exceed
Rs. 50 lakhs
                    &
Outstanding Loan from Banks+Financial Institutions
shall not exceed
Rs. 25 lakhs
                    &
Turnover at any point of time in financial year
shall not exceed
Rs. 5 crores

Small Company:
Section 2(85) Small Company
means
Other than Public Company
having
Paid up Share Capital
not exceeding
Rs 50 lakhs or such higher amount as may be prescribed upto maximum of Rs. 5 crores
Or
Turnover as per last as per last P&L A/c.
shall not exceed
Rs. 2 crores or such higher amount as may be prescribed upto maximum of Rs. 20 crores

Provided that:
Nothing above shall apply to:
(1) Holding Company/Subsidiary Company
(2) Company registered u/s. 8
(3) Company/Body Corporate governed by the Special Act

Most Simple Equation ‘Pain=Gain’

The harder the conflict, the more glorious the triumph.

In other words….Pain is Gain…!

So if you are feeling pain then feel that you actually in process of gaining.

Don’t loose hope if your pain is continue, as more you will pain the better success you will get.

And remember pain is always a temporary, so enjoy pain with hope.