Mar 31, 2014
A) Income:
i) The Accounts have been prepared on the priciple of going concern,
under the historical cost convention and on accrual basis
ii) Income on Inter Corporate Deposits is accounted on time accrual
basis.
b) Expenditure
It is the policy of the Company to provide for all expenses on accrual
basis.
c) Taxation
i) Provision for current income tax is made on the basis of taxable
income for the year as determined as per the provisions of the Income
Tax Act, 1961.
ii) Deferred Income Tax is accounted for by computing the tax effect on
timing differences, which arise during the year, and is capable of
reversal in the subsequent periods.
d) Amortization of Miscellaneous Expenditure:
Preliminary and share issue expenses are amortized in the year of
incurrence of expenditure.
e) Impairment Of Assets
If the carrying amount of Fixed Assets exceeds the recoverable amount
on the reporting date, the carrying amount is reduced to the
recoverable amount. The recoverable amount is measured as the higher of
the net selling price and the value in use determine
Mar 31, 2013
A) Income:
i) The Accounts have been prepared on the priciple of going concern,
under the historical cost convention and on accrual basis
ii) Income on Inter Corporate Deposits is accounted on time accrual
basis.
b) Expenditure
It is the policy of the Company to provide for all expenses on accrual
basis.
c) Taxation
i) Provision for current income tax is made on the basis of taxable
income for the year as determined as per the provisions of the Income
Tax Act, 1961.
ii) Deferred Income Tax is accounted for by computing the tax effect on
timing differences, which arise during the year, and is capable of
reversal in the subsequent periods.
d) Amortization of Miscellaneous Expenditure:
Preliminary and share issue expenses are amortized in the year of
incurrence of expenditure.
e) Impairment Of Assets.
If the carrying amount of Fixed Assets exceeds the recoverable amount
on the reporting date, the carrying amount is reduced to the
recoverable amount. The recoverable amount is measured as the higher of
the net selling price and the value in use determine
Mar 31, 2012
A) Income:
i) The Accounts have been prepared on the principle of going concern,
under the historical cost convention and on accrual basis
ii) Income on Inter Corporate Deposits is accounted on time accrual
basis.
b) Expenditure
It is the policy of the Company to provide for all expenses on accrual
basis.
c) Taxation
i) Provision for current income tax is made on the basis of taxable
income for the year as determined as per the provisions of the Income
Tax Act, 1961.
ii) Deferred Income Tax is accounted for by computing the tax effect on
timing differences, which arise during the year, and is capable of
reversal in the subsequent periods.
d) Amortization of Miscellaneous Expenditure:
Preliminary and share issue expenses are amortized in the year of
incurrence of expenditure.
e) Impairment Of Assets
If the carrying amount of Fixed Assets exceeds the recoverable amount
on the reporting date, the carrying amount is reduced to the
recoverable amount. The recoverable amount is measured as the higher of
the net selling price and the value in use determine
Mar 31, 2011
A) Income:
i) The Accounts have been prepared on the principle of going concern,
under the historical cost convention and on accrual basis
ii) Income on Inter Corporate Deposits is accounted on time accrual
basis.
b) Expenditure It is the policy of the Company to provide for all
expenses on accrual basis.
c) Taxation
i) Provision for current income tax is made on the basis of taxable
income for the year as determined as per the provisions of the
Income Tax Act, 1961.
ii) Deferred Income Tax is accounted for by computing the tax effect on
timing differences, which arise during the year, and is capable of
reversal in the subsequent periods.
iii) Provision for Fringe Benefit Tax is made as per applicable
provisions under Income Tax Act 1961.
d) Amortization of Miscellaneous Expenditure:
Preliminary and share issue expenses are amortized equally over a
period of ten years.
e) Impairment Of Assets
If the carrying amount of Fixed Assets exceeds the recoverable amount
on the reporting date, the carrying amount is reduced to the
recoverable amount. The recoverable amount is measured as the higher of
the net selling price and the value in use determined by the present
value of estimated future cash flows.
Mar 31, 2010
A) Income:
i) The Accounts have been prepared on the priciple of going concern,
under the historical cost convention and on accrual basis
ii) Income on Inter Corporate Deposits is accounted on time accrual basis.
b) Expenditure
It is the policy of the Company to provide for all expenses on accrual
basis.
c) Taxation
i) Provision for current income tax is made on the basis of taxable
income for the year as determined as per the provisions of the Income Tax
Act, 1961.
ii) Deferred Income Tax is accounted for by computing the tax effect on
timing differences, which arise during the year, and is capable of
reversal in the subsequent periods.
iii) Provision for Fringe Benefit Tax is made as per applicable
provisions under Income Tax Act 1961.
d) Amortization of Miscellaneous Expenditure:
Preliminary and share issue expenses are amortized equally over a
period of ten years.
e) Impairment Of Assets
If the carrying amount of Fixed Assets exceeds the recoverable amount
on the reporting date, the carrying amount is reduced to the
recoverable amount. The recoverable amount is measured as the higher of
the net selling price and the value in use determined by the present
value of estimated future cash flows.
Disclaimer: This is 3rd Party content/feed, viewers are requested to use their discretion and conduct proper diligence before investing, GoodReturns does not take any liability on the genuineness and correctness of the information in this article