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Notes to Accounts of CTIL Ltd.

Mar 31, 2014

Note No. 1: Payments to Statutory Auditor:

2013-14 2012-13

Audit fee

Statutory 1,00,000 1,00,000

Tax 50,000 50,000

Total 1,50,000 1,50,000

Note No. 2. a. Current Tax:

Provision for the current tax has been provided as per the provisions of the Income Tax Act, 1961.

b. Deferred Tax

The Deferred Tax Asset in adoption of new A.S.22 "Taxation Income" issued by The Institute of Chartered Accountants of India amounting to Rs.1,52,565/- resulting from timing differences between book and tax profits is accounted for under the liability method, at the current rate of tax, to the extent that the timing differences are expected to crystallize.

Note No. 3. Segment Reporting:

The company is engaged in Software Development business which as per Accounting Standard 17 is considered the only reportable business segment. As part of secondary reporting, revenues are attributable to geographic areas based on the location of the customers.

Note No. 4. There are no amounts due to small-scale industrial undertakings, to whom the company owes a sum which is outstanding for more than 30 days and hence the details in respect of outstanding dues to small-scale industrial undertakings are not furnished, as required as per the notification No.GSR 129(E) dated 22nd February 1999.

Note No. 5. Number of employees who were in receipt of remuneration of Rs. 60,00,000 or more if employed through-out the year or Rs. 5,00,000/-per month if employed for a part of the year is NIL.

Note No. 6. Previous year''s figures have been reclassified/ regrouped wherever necessary to conform to the current years'' classification.


Mar 31, 2013

Note No. 1. a. Current Tax:

Provision for the current tax has been provided as per the provisions of the Income Tax Act, 1961.

b. Deferred Tax

The Deferred Tax Asset in adoption of new A.S.22 "Taxation Income" issued by The Institute of Chartered Accountants of India amounting to Rs.445214/- resulting from timing differences be- tween book and tax profits is accounted for under the liability method, at the current rate of tax, to the extent that the timing differences are expected to crystallize.

Note No. 2. Segment Reporting:

The company is engaged in Software Development business which as per Accounting Standard 17 is considered the only reportable business segment. As part of secondary reporting, revenues are attributable to geographic areas based on the location of the customers. Geographical Segments:

Note No. 3. Related party Disclosures:

1. Related Party disclosures in accordance with AS-18 issued by The Institute of Chartered Accoun- tants of India by virtue of share holding and key management personnel.

a) Relation Ship

i. Associate Companies : Nil

ii 100% Subsidiary Companies : CTIL Infrastructure Pvt Ltd

CTIL Media Pvt Ltd Iii Other Indian Subsidiaries : SPRY Resources India Pvt. Ltd.

ACE BPO Services Pvt. Ltd. iii. Key Management Personnel : Executive Director

b) The following transactions were carried out with related parties in the ordinary course of business.

Note No. 4. There are no amounts due to small-scale industrial undertakings, to whom the company owes a sum which is outstanding for more than 30 days and hence the details in respect of outstanding dues to small-scale industrial undertakings are not furnished, as required as per the notification No.GSR 129(E) dated 22nd February 1999.

Note No. 5 Number of employees who were in receipt of remuneration of Rs. 60,00,000 or more if employed through-out the year or Rs. 5,00,000/-per month if employed for a part of the year is NIL. Note No. 34 Previous year''s figures have been reclassified/ regrouped wherever necessary to conform to the current years'' classification.


Mar 31, 2012

Note No. 1 Estimated amount of contracts remaining to be executed on capital accounts Rs. NIL (Previous year Rs. Nil )

1. Claims against the company, not acknowledged as debts Rs. NIL (Previous year Rs. Nil )

Note No. 2 Payments to Statutory Auditor:

2011-12 2010-11

Audit fee

Statutory 1,00,000 1,00,000

Tax 50,000 50,000

Total 1,50,000 1,50,000

Note No. 3. a. Current Tax :

Provision for the current tax has been provided as per the provisions of the Income Tax Act, 1961.

b. Deferred Tax

The Deferred Tax Asset in adoption of new A.S.22 "Taxation Income" issued by The Institute of Chartered Accountants of India amounting to Rs. 585958/- resulting from timing differences between book and tax profits is accounted for under the liability method, at the current rate of tax, to the extent that the timing differences are expected to crystallize.

Note No. 4. Segment Reporting:

The company is engaged in Software Development business which as per Accounting Standard 17 is considered the only reportable business segment. As part of secondary reporting, revenues are attributable to geographic areas based on the location of the customers.

Note No. 5. Related party Disclosures:

1. Related Party disclosures in accordance with AS-18 issued by The Institute of Chartered Accountants of India by virtue of share holding and key management personnel.

a) Relation Ship

i. Associate Companies :

ii 100% Subsidiary Companies : CTIL Infrastructure Pvt Ltd

CTIL Media Pvt Ltd

Iii Other Indian Subsidiaries : SPRY Resources India Pvt. Ltd.

ACE BPO Services Pvt. Ltd. iii. Key Management Personnel : Executive Directors

b) The following transactions were carried out with related parties in the ordinary course of business.

Note No. 6. There are no amounts due to small-scale industrial undertakings, to whom the company owes a sum which is outstanding for more than 30 days and hence the details in respect of outstanding dues to small-scale industrial undertakings are not furnished, as required as per the notification No.GSR 129(E) dated 22nd February 1999.

Note No. 7 Number of employees who were in receipt of remuneration of Rs. 60,00,000 or more if employed through-out the year or Rs. 5,00,000/-per month if employed for a part of the year is NIL.

Note No. 8 Previous year's figures have been regrouped wherever necessary to conform to the current years' classification.


Mar 31, 2010

1. Estimated amount of contracts remaining to be executed on capital accounts Rs. Nil (Previous Year Rs.Nil)

2. Claims against the company, not acknowledged as debt Rs. NIL (Previous year Rs. Nil)

3. Deferred Tax:

The Deferred Tax Liability in adoption of new A.S.22 "Taxation Income" issued by the Institute of Chartered Accountants of India amounting to Rs.1,35,289/- resulting from timing differences between ¦ book and tax profits is accounted for under the liability method, at the current rate of tax, to the extent that the timing differences are expected to crystallize.

4. Related party Disclosures:

Related party disclosures in accordance with AS-18 issued by The Institute of Chartered Accountant of India by virtue of share holding and key management personnel.

1) Related Parties Nature of Relationship

a)- Managing Director Key Management Personnel

Transactions with Related Parties

a) Remuneration Rs.9,00,0007-

5. There are no amounts due to small-scale Industrial undertakings, to whom the company owes a sum which is outstanding for more than 30 days and hence the details in respect of outstanding dues to small-scale Industrial undertakings are not furnished, as required as per the notification No.GSR 129(E) dated 22nd February 1999.

6. Secured Loan :

During the year Company has obtained working capital facility of Rs. 500 lacks from UCO Bank, Secunderabad Branch and availed an amount of Rs. 67,76,250/- only.

7. Previous years figures have been regrouped wherever necessary to confirm to the current year classification.

 
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