Home  »  Company  »  Antariksh Industries  »  Quotes  »  Accounting Policy
Enter the first few characters of Company and click 'Go'

Accounting Policies of Antariksh Industries Ltd. Company

Mar 31, 2014

1. Basis of Preparation :

The Statement of accounts has been prepared under the historical convention using the accrual method of accounting.

2. Tangible Assets :

Tangible Assets are stated at cost of acquision or construction (net of Cenvat Credit / Value Added Tax). All costs relating to the acquisition and installation of tangible assets are capitalised and include borrowing costs directly attributable to acquisition of tangible assets upto the date the asset is put to use.

3. Depreciation :

The Company has provided depreciation as per Income Tax Rules 1962. Had it been provided as per Schedule XIV of the Companies Act 1956, the Depreciation would have been less by Rs.4,791/- (cumulative Rs.1,35,875/-) and correspondingly profit would have been more to the same extent for the year.

4. Provisions :

As per the opinion of the management, no liability arises for Professional Tax and accordingly no provision has been made for Professional Tax.

5. Figures for the previous year have been regrouped and rearranged wherever found necessary.

6. Additional information required pursuant to part II of schedule VI of the Companies Act, 1956, is either '' NIL'' or '' NOT APPLICABLE''.


Mar 31, 2013

(a) Basis of Preparation :

The Statement of accounts has been prepared under the historical convention using the accrual method of accounting

(b) Tangible Assets :

Tangible Assets are stated at cost of acquisition or construction (net of Cenvat Credit / Value Added Tax). All costs relating to the acquisition and installation of tangible assets are capitalised and include borrowing costs directly attributable to acquisition of tangible assets upto the date the asset is put to use.

(c) Depreciation:

The Company has provided depreciation as per Income Tax Rules 1962. Had it been provided as per Schedule XIV of the Companies Act 1956, the Depreciation would have been less by T.45,683/- (cumulative *. 1,31,084/-) and correspondingly profit would have been more to the same extent for the year.

(d) Provisions:

i. As per the opinion of the management, no liability arises for Professional Tax and accordingly no provision has been made for Professional Tax.

(e) Figures for the previous year have been regrouped and rearranged wherever found necessary

(f) Additional information required pursuant to part II of schedule VI of the Companies Act, 1956, is either''NIL'' or NOT APPLICABLE''.


Mar 31, 2012

(a) Basis of Preparation :

The Statement of accounts has been prepared under the historical convention using the accrual method of accounting.

(b) Tangible Assets:

Tangible Assets are stated at cost of acquision or construction (net of Convert Credit / Value Added Tax). All costs relating to the acquisition and installation of tangible assets are capitalised and include borrowing costs directly attributable to acquisition of tangible assets upto the date the asset is put to use.

(c) Depreciation:

The Company has provided depreciation as per income Tax Rules 1962. Had it been provided as per Schedule XIV of the Companies Act 1956, the Depreciation would have been less by Rs.44,684/- (cumulative Rs.85401/-) and correspondingly profit would have been more to the same extent for the year.

(d) Provisions:

i. No provisions for income tax has been made in view of Loss during the year.

II. As per the opinion of the management, no liability arises for Professional Tax and accordingly no provision has been made for Professional Tax.

 
Subscribe now to get personal finance updates in your inbox!