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 æ 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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