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Notes to Accounts of Cyberscape Multimedia Ltd.

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

 
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