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

Accounting Policies of Dhanlaxmi Cotex Ltd. Company

Mar 31, 2014

1. Fixed Assets : Valued at Cost.

2. Depreciation and Amortisation :

a. Depreciation is provided as per straight line method according to the rates specified in Schedule XIV of the Companies Act, 1956.

b. The Company writes off Leasehold land over the period of Lease on Straight line basis.

3. Investments : Investments are stated at cost.

4. Inventories :

Basis of Valuation Shares : At Cost.

5. Sales :

Sales of Products are recognised as on the date of the Invoices.

6. Gratuity :

No provision has been made in the accounts on account of gratuity which are not quantified as it is not applicable.

7. Basis Of Accounting :

The Financial Statements are prepared under the Historical cost convention accordance with the requirements of the Companies Act, 1956 and accepted Accounting Standards.

In the opinion of the Management, the Current Assets, Loans & Advances are not less than the value stated, if realised in the ordinary course of Business.

8. Deferred Tax :

a. The Company has adopted Accounting Standard-22 " Accounting for taxes on Income" with effect from 1st April 2001.

During the current year the Company has a Deferred Tax Assets due to higher depreciation adjusted as per the Companies Act, 1956 compared to depreciation admissible as per the Income Tax Act, 1961 which is credited to the Profit & Loss Account of the current year.


Mar 31, 2013

1. Fixed Assets : Valued at Cost.

2. Depreciation and Amortisation :

a. Depreciation is provided as per straight line method according to the rates specified in Schedule XIV of the Companies Act, 1956. v

b. The Company writes off Leasehold land over the period of Lease on Straight line basis.

3. Investments : Investments are stated at cost.

4. Inventories : Basis of Valuation

Finished Goods At Cost or Market Value whichever is lower.

Shares At Cost or Market Value whichever is lower.

5. Sales :

Sales of Products are recognised as on the date of the Invoices.

6. Gratuity :

No provision has been made in the accounts on account of gratuity which are not quantified as it is not applicable.

7. Basis Of Accounting :

The Financial Statements are prepared under the Historical cost convention accordance with the requirements of the Companies Act, 1956 and accepted Accounting Standards.

In the opinion of the Management, the Current Assets, Loans & Advances are not less than the value stated, if realised in the ordinary course of Business.

8. Deferred Tax :

a. The Company has adopted Accounting Standard-22" Accounting for taxes on Income* with effect from 1st April 2001.

During the current year the Company has a Deferred Tax Assets due to higher depreciation adjusted as per the Companies Act, 1956 compared to depreciation admissible as per the Income Tax Act, 1961 which is credited to the Profit & Loss Account of the current year.

b. The break up of net Deferred Tax Liability / Assets on 31st March, 2013 is under.

(Rs. In Lakhs)

Deferred Tax Liability as on 01.04.2012 6.93

Less : Deferred Tax Assets for the year 0.24

(Difference between book & tax depreciation)

Net Deferred Tax Liability 6.69

The Deferred Tax balances have arisen principally on account of the timing difference between the depreciation adjusted in account. Though adjustment has been made in term of Accounting Standard 22, having regard to the Normal Capital Expenditure which the Company is expected to continue to make in likely to materialize on account thereof.


Mar 31, 2012

1. Fixed Assets : Valued at Cost.

2. Depreciation and Amortisation :

a. Depreciation is provided as per straight line method according to the rates specified in Schedule XIV of the Companies Act, 1956.

b. The Company writes off Leasehold land over the period of Lease on Straight line basis.

3. Investments : Investments are stated at cost.

4. Inventories : Basis of Valuation

Raw Material : At Cost

Finished Goods : At Cost or Market Value whichever is lower.

Shares : At Cost or Market Value whichever is lower.

5. Sales :

Sales of Products are recognised as on the date of the Invoices.

6. Gratuity :

No provision has been made in the accounts on account of gratuity which are not quantified as it is not applicable.

7. Basis Of Accounting :

The Financial Statements are prepared under the Historical cost convention accordance with the requirements of the Companies Act, 1956 and accepted Accounting Standards.

In the opinion of the Management, the Current Assets, Loans & Advances are not less than the value stated, if realised in the ordinary course of Business.

8. Deferred Tax :

a. The Company has adopted Accounting Standard-22 " Accounting for taxes on Income" with effect from 1st April 2001.

During the current year the Company has a Deferred Tax Assets due to higher depreciation adjusted as per the Companies Act, 1956 compared to depreciation admissible as per the Income Tax Act, 1961 which is credited to the Profit & Loss Account of the current year.

The Deferred Tax balances have arisen principally on account of the timing difference between the depreciation adjusted in account. Though adjustment has been made in term of Accounting Standard 22, having regard to the Normal Capital Expenditure which the Company is expected to continue to make in likely to materialize on account thereof.


Mar 31, 2010

1. FIXED Assets : Valued at Cost.

2. Depreciation and Amortisation :

a. Depreciation is provided as per straight line method according to the rates specified in Schedule XIV of the Companies Act, 1956.

b. The Company writes off Leasehold land over the period of Lease on Straight line basis.

3. Investments : Investments are stated at cost.

4. Inventories : Basis of Valuation Raw Material At Cost

Finished Goods At Cost or Market Value whichever is lower.

Shares At Cost or Market Value whichever is lower.

5. Sales :

Sales of Products are recognised as on the date of the Invoices.

6. Gratuity :

No provision has been made in the accounts on account of gratuity which are not quantified as it is not applicable.

7. Basis Of Accounting :

The Financial Statements are prepared under the Historical cost convention accordance with the requirements of the Companies Act, 1956 and accepted Accounting Standards. In the opinion of the Management, the Current Assets, Loans & Advances are not less than the value stated, if realised in the ordinary course of Business.

8. Deferred Tax :

a. The Company has adopted Accounting Standard-22 " Accounting for taxes on Income" with effect from 1st April 2001.

Find IFSC