Regarding your RTP Lecture may'18

Questions › Category: CA-Final Prof Ethics › Regarding your RTP Lecture may'18

bharat gahlot asked 6 years ago

In Clause 11 you mentioned that Auditor of Banking co. can’t overdue the amount more than 10000 on credit card.
My question is such overdue amt. upto Rs. 10000 should be counted in Indebtedness mentioned u/s 141(3) of Rs. 500000 for disqualification??

1 Answers

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Ravi Staff answered 6 years ago

As per ICAI announcement, if limit for outstanding dues on credit card is 10,000 .Further Company Act says indebtedness limit is 5,00,000.

Nowas 2 things are applicable we have to follow whichever is strict, strict is Rs 10,000.