Mar 31, 2014
ACCOUNTING FOR TAXES ON INCOME TAX
Income Tax expenses comprise of current tax being amount of tax
determined in accordance with Income Tax Law. A provision is made for
income tax annually, based on the tax liability computed after
considering tax allowances and exemptions.
(i) No provision for current tax is made during the financial year
2013-14 as the company has incurred loss.
EARNING PER SHARE
The amount considered in ascertaining the Company''s earning per share
constitutes the net profit / loss after tax. The number of shares used
in computing basic earning per share is the weighted average number of
shares outstanding during the year.
Previous Year figures have been regrouped / recast wherever
necessary.
Mar 31, 2013
1. CONTINGENT LIABILITIES
There are no known contingent liabilities not provided for including
claims against the company acknowledged as debts.
2. ACCOUNTING FOR TAXES ON INCOME TAX
Income Tax expenses comprise of current tax being amount of tax
determined in accordance with Income Tax Law. A provision is made for
income tax annually, based on the tax liability computed after
considering tax allowances and exemptions.
(i) No provision for current tax is made during the financial year
2012-13 as the company has incurred loss.
3. Previous Year figures have been regrouped / recast wherever
necessary.
Mar 31, 2012
(a) Contingent liabilities:
There are no known contingent liabilities not provided for including
claims against the company acknowledged as debts.
(b) Prior period items include Expenses / Income related to previous
year not provided for are separately classified as prior period
expenditure / income during the current year in accounts.
(c) In the opinion of the Board and to the best of their knowledge and
belief, the value on realisation of the Current Assets, Loans &
Advances in the ordinary course of business will not be less than the
value stated in the Balance Sheet.
(d) Some of the balances in Receivables, Payables and Loans and
Advances are subject to confirmation.
Mar 31, 2010
(a) There are no known contingent liabilities not provided for
including claims against the company acknowledged as debts.
(b) In the opinion of the Board and to the best of their knowledge and
belief, the value on realisation of the Current Assets, Loans &
Advances in the ordinary course of business will not be less than the
value stated in the Balance Sheet.
(c) Balances in respect of some of the Debtors, Creditors, Advances and
Deposits are subject to confirmation.
(d) Previous year figures have been regrouped and rearranged wherever
required to conform to this years classification.
(e) No provision for current tax is made during the financial year
2009-10 as the company has incurred loss. Deferred Tax resulting from
"Timing difference" between book & taxable profit is accounted for
using the tax rates and laws that have been enacted and subsequently
enacted as on the balance sheet date. Provision for Fringe Benefit Tax
has been made in accordance with the applicable Income Tax Laws
prevailing for relevant assessment year.
(f) Related Party Disclosures as per Accounting Standard 18 :
Related party disclosures, as required by AS-18 are given below :
(g) Relationships :
Category I: Major Shareholders in the Company
Anand S.K.
M.S.Sridhar
Swarupa Hunsur Satyanarayana
Usha Sridhar
Category II: Subsidiaries of the Company : None
Category III : Key Management Personnel None