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Accounting Policies of Adhbhut Infrastructure Ltd. Company

Jun 30, 2015

I) Basic of Accounting :

The Financial Statements have been prepared and presented under the historical cost convention on an accrual basis of accounting and in accordance with the accounting principles generally accepted in India and comply with the Accounting Standards referred in the Companies (Accounting Standards) Rules, 2006 which continue to apply under section 133 of the Companies Act, 2013 read with Rule 7 of the Companies (Account) Rules, 2014.

ii) Revenue Recognition

Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is recognized on accrual basis in accordance with the terms of relevant agreement.

iii) Fixed Assets:

Fixed Assets are accounted for at cost, inclusive of expenses relating to acquisition thereof.

iv) Depreciation:

Depreciation on fixed assets is provided on the basis of SLM based on useful life of assets as prescribed in Scheduled II of the Companies Act 2013.

v) Provision for current tax:

Provision for current tax is made after taking into consideration benefits admissible under the provisions of the Income Tax Act, 1961.

vi) Investment

(a) The cost of an investment includes incidental expenses like brokerage, fees and duties incurred prior to acquisition.

(b) Long term investments are shown at cost. Provision for diminution is made only if; in the opinion of the management such a decline is other than temporary.

vii) Contingent Liabilities

No provision is made for a liability which is contingent in nature but if material, the same is disclosed by way of note to the accounts.


Jun 30, 2014

I) Basis of Preparation of Financial Statements:

The Financial Statements have been prepared under the historical cost convention in accordance with the generally accepted accounting principles in India and the provisions of the Companies Act, 1956.

ii) Fixed Assets:

Fixed Assets are accounted for at cost, inclusive of expenses relating to acquisition thereof.

iii) Depreciation:

Depreciation on fixed assets has been provided on straight line method at the rates and in the manner prescribed in Schedule XIV to the Companies Act 1956.

iv) Provision for current tax:

Provision for current tax is made after taking into consideration benefits admissible under the provisions of the Income Tax Act, 1961.

v) Investment

(a) The cost of an investment includes incidental expenses like brokerage, fees and duties incurred prior to acquisition.

(b) Long term investments are shown at cost. Provision for diminution is made only if; in the opinion of the management such a decline is other than temporary.


Jun 30, 2013

Basis of Preparation of Financial Statements:

The Financial Statements have been prepared under the historical cost convention in accordance with the generally accepted accounting principles in India and the provisions of the Companies Act, 1956.

i) Fixed Assets:

Fixed Assets are accounted for at cost, inclusive of expenses relating to acquisition thereof.

ii) Depreciation:

Depreciation on fixed assets has been provided on straight line method at the rates and in the manner prescribed in Schedule XIV to the Companies Act 1956.

iii) Provision for current tax:

Provision for current tax is made after taking into consideration benefits admissible under the provisions of the Income Tax Act, 1961.

iv) Investment

(a) The cost of an investment includes incidental expenses like brokerage, fees and duties incurred prior to acquisition.

(b) Long term investments are shown at cost. Provision for diminution is made only if; in the opinion of the management such a decline is other than temporary.


Mar 31, 2011

I) Basis of Preparation of Financial Statements:

The Financial Statements have been prepared under the historical cost convention in accordance with the generally accepted accounting principles in India and the provisions of the Companies Act, 1956.

ii) Fixed Assets:

Fixed Assets are accounted for at cost, inclusive of expenses relating to acquisition thereof.

iii) Depreciation:

Depreciation on fixed assets has been provided on straight line method at the rates and in the manner prescribed in Schedule XIV to the Companies Act 1956.

iv) Provision for current tax:

Provision for current tax is made after taking into consideration benefits admissible under the provisions of the income Tax Act, 1961.

v) inventories:

Inventories are valued at cost or market price whichever is lower.

vi) Project Work in Progress:

Project & Construction work in progress is carried at cost till such time the outcome of the project can not be ascertained reliably. Cost of project work in progress includes direct and allocable expenditure attributable to such project and construction related work.

 
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