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AnkitAnkit asked 3 months ago

what is ‘reasonable interval’ for physical verification for clause i & ii of CARO 2020

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RaviRavi Staff answered 3 months ago

Reasonable Interval of Time
For Fixed Asset.
Annual verification is reasonable for Fixed Assets
It can be extended up to 3 years but in such case, mention this in report
For Inventory
Reasonable interval of time for inventory is generally 1 year