Mar 31, 2010
(1) Basis of Accounting:
The financial statements have been prepared under historical cost
convention on accrual basis
(2) Fixed Assets:
Fixed assets are shown at cost less accumulated Depreciation
(3) Depreciation
Depreciation on fixed assets is provided under straight line method at
the rates and in the manner specified under Schedule XIV to the
Compaines Act. 1956
(4) Inventories:
Inventories i.e. Stock in Trade of Equity Shares are valued at cost or
market value whichever is lower
(5) Income.
No income is recognised in respect to past dues if any on
Non-Performing Assets Overdue Income is recognised as income on
realisation.
(6) Earning per Share
The basic and diluted Earnings per Share is computed by dividing the
net profit after tax for the year by weighted average number of equity
shares outstanding during the year
(7) Provision for Taxation
Tax expense comprises of current tax, deferred tax and fringe benefit
tax
Provision for taxation is computed as per the total income returnable
under the Income Tax Act, 1961
Mar 31, 2009
1) Basis of Accounting: ,-1ie financial statements have beer prepared
under historical cost convention on accrual basis
(2) Fixed Assets:
Fixed assets are shown at cost less accumulated Depreciation.
(3) Depreciation1
Depreciation on fixed assets is provided under straight line method at
the rates and in the manner specified under Schedule XIV to the
Compaines Act. 1956
(4) Inventories
Inventories i e Stock in Trade of Equity Shares are valued at cost or
market value whichever is lower.
(5) Income:
No income is recognised in respect to past dues if any on
Non-Performing Assets. Overdue Income is recognised as income on
realisation
(6) Earning per Share
The basic and diluted Earnings per Share is computed by dividing the
net profit after tax for the year by weighted average number of equity
shares outstanding during the year.
(7) Provision for Taxation
Tax expense comprises of current tax, deferred tax and fringe benefit
tax . Provision for taxation Is computed as per the total income
returnable under me Income Tax Act, 1961