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CARO Clause 3(viii) — Unrecorded Income

Requires reporting on whether any transactions not recorded in the books have been surrendered or disclosed as income in tax assessments, and if so, whether this has been properly recorded.

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Related terms

  • CARO Clause 3(vi) — Cost Records

    Requires reporting on whether cost records have been made and maintained as prescribed by the Central Government, where applicable to the company's business.

  • CARO Clause 3(vii) — Statutory Dues

    Requires reporting on the regularity of depositing undisputed statutory dues (GST, PF, ESI, income tax and others), and the extent and nature of any disputed dues.

  • CARO Clause 3(x) — Utilisation of Issue Proceeds

    Requires reporting on whether money raised through an initial public offer, further public offer, or private placement of shares or debentures was utilised for the purposes it was raised for.

  • CARO Clause 3(xi) — Fraud Reporting

    Requires reporting on whether any fraud by or on the company has been noticed or reported during the year, the nature and amount involved, and whether a fraud report under Section 143(12) was filed.

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