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Notes to Accounts of Edynamics Solutions Ltd.
Mar 31, 2014
1) The previous year''s figures have been reworked, regrouped,
rearranged and reclassified wherever necessary.
2) All the investments made by the company are valued at Cost.
Managerial Remuneration: -
4) The inventories of the company are valued as per cost price and
market price which everis less.
5) Deferred tax arising on account of timing difference and which are
capable of reversal in one or more subsequent periods is recognised
using the tax rates and tax laws that have been enacted or
substantively enacted. Deferred tax assests are recognised unless there
is virtual certainty with respect to the reversal of the same in future
6) The revised Schedule VI as notified under the companies Act,1956,
has become applicable to the company for the presentation of its
financial statements for the year ending January 31,2013. The
adoptation of the revised Schedule VI requirements has significantly
modified the presentation and disclosurs which have been complied with
in these financial statements Previous year figures have been
reclassified in accordance with current year requirements.
7) All schedules annexed to and form integral part of the Balance Sheet
and Profit & Loss Account.
8) Minimum Alternative Tax (MAT) is recognised as an asset only when
and to the extent there is convincing evidence that the company will
pay normal income tax during the specified period. The Company reviews
the same at each balance sheet date and writes down the carrying amount
of MAT Credit Entitlement to the extent there is no longer convincing
evidence to the effect that company will pay normal Income Tax during
the specified period.
9) Value of Import on CIF Basis Nil
10) Earnings in Foreign Exchange (FOB Value) Nil
Expenditure in Foreign Currency Nil
12) The Company has no employee to whom the provision s of section 217
(2A) of the Companies Act, 1956 are applicable.