Mar 31, 2016
01 ACCOUNTING CONVENTIONS
The Financial Statements are prepared on Historical Cost Convention. Financial Statements are prepared in accordance with relevant presentational requirements of the Companies Act, 2013 and applicable mandatory Accounting Standards as prescribed under section 133 of Companies Act, 2013 read with rule 7 of the Companies (Accounts) Rules, 2014.
02 INVESTMENTS
Investments that are readily realizable and intended to be held for not more than a year are classified as Current Investments. All other Investments are classified as Non Current Investments. Current Investments are stated at lower of cost and market rate on an individual investment basis. Non Current Investments are considered âat costâ on individual investment basis, unless there is a decline other than temporary in the value, in which case adequate provision is made against such diminution in the value of investments.
03 RECOGNITION OF INCOME & EXPENDITURE
Income & Expenditures are accounted for on accrual basis, except Dividend which is accounted for on Receipt Basis.
04 FIXED ASSETS
Fixed Assets are stated at cost less accumulated depreciation and impairment losses, if any. Cost comprises the purchase price and any attributable cost of bringing the asset to its working condition for its intended use.
05 DEPRECIATION ON FIXED ASSETS
Depreciation on fixed assets has been provided based on useful life assigned to each asset prescribed in accordance with Part -âCâ of Schedule II of the Companies Act,2013.
Depreciation on fixed assets added/disposed off during the year, is provided on pro-rata basis with reference to the date of addition/disposal.
In a case of impairment, if any, depreciation is provided on the revised carrying amount of the assets over their remaining useful life.
06 IMPAIRMENT OF ASSETS
i. The carrying amounts of assets are reviewed at each balance sheet date if there is any indication of impairment based on internal/external factors. An impairment loss is recognized wherever the carrying amount of an asset exceeds its recoverable amount. The recoverable amount is the greater of the asset''s net selling price and value in use. In assessing the value in use, the estimated future cash flows are discounted to their present value at the weighted average cost of capital.
ii. After impairment, depreciation is provided on the revised carrying amount of the assets over its remaining useful life.
07 TAXES ON INCOME
Current Tax is determined as the amount of tax payable in respect of taxable income for the year.
Deferred Tax is recognized, subject to consideration of prudence, in respect of deferred tax assets / liabilities on timing difference, being the difference between taxable income and accounting income that originated in one period and are capable of reversal in one or more subsequent periods.
08 CONTINGENT LIABILITIES
Contingent Liability , if any is disclosed by way of notes on accounts.
09 EARNING PER SHARE
Earnings per share is calculated by dividing the net profit or loss for the year attributable to equity shareholders, by the weighted average number of equity shares outstanding during the year.
For the purpose of calculating diluted earnings per share, the net profit or loss for the year attributable to equity shareholders and weighted average number of shares outstanding during the year are adjusted for the effects of all dilutive potential equity shares.
10 PROVISIONING FOR DEFERRED TAXES
The Provision for current tax is made after taking into consideration benefits admissible under the provisions of the Income Tax Act, 1961.
Deferred Tax resulting from â timings difference â between book and taxable profit is accounted for using the tax rates and laws that have been enacted or substantially enacted as on the Balance Sheet date . The Deferred Tax Asset is recognized and carried forward only to the extent that there is a reasonable certainty that the assets will be realized in future.
Mar 31, 2014
01 ACCOUNTING CONVENTIONS
The Financial Statements are prepared on Historical Cost Convention.
Financial Statements are prepared in accordance with relevant
presentational requirements of the Companies Act, 1956 and applicable
mandatory Accounting Standards.
02 INVESTMENTS
Investments that are readily realizable and intended to be held for not
more than a year are classified as Current Investments. All other
Investments are classified as Non-Current Investments. Current
Investments are stated at lower of cost and market rate on an
individual investment basis. Non-Current Investments are considered ''at
cost'' on individual investment basis, unless there is a decline other
than temporary in the value, in which case adequate provision is made
against such diminution in the value of investments.
03 RECOGNITION OF INCOME & EXPENDITURE
Income & Expenditures are accounted for on accrual basis, except
Dividend which is accounted for on Receipt Basis.
04 FIXED ASSETS
Fixed Assets are stated at cost less accumulated depreciation and
impairment losses, if any. Cost comprises the purchase price and any
attributable cost of bringing the asset to its working condition for
its intended use.
05 DEPRECIATION ON FIXED ASSETS
Depreciation has been provided on written down value method at the
rates and in the manner prescribed in schedule XIV of the Companies
Act, 1956.
06 IMPAIRMENT OF ASSETS
i. The carrying amounts of assets are reviewed at each balance sheet
date if there is any indication of impairment based on
internal/external factors. An impairment loss is recognized wherever
the carrying amount of an asset exceeds its recoverable amount. The
recoverable amount is the greater of the asset''s net selling price and
value in use. In assessing the value in use, the estimated future cash
flows are discounted to their present value at the weighted average
cost of capital.
ii. After impairment, depreciation is provided on the revised carrying
amount of the assets over its remaining useful life.
07 TAXES ON INCOME
Current Tax is determined as the amount of tax payable in respect of
taxable income for the year.
Deferred Tax is recognised, subject to consideration of prudence, in
respect of deferred tax assets / liabilities on timing difference,
being the difference between taxable income and accounting income that
originated in one period and are capable of reversal in one or more
subsequent periods.
08 CONTINGENT LIABILITIES
Contingent Liability, if any is disclosed by way of notes on accounts.
09 EARNING PER SHARE
Earnings per share is calculated by dividing the net profit or loss for
the year attributable to equity shareholders, by the weighted average
number of equity shares outstanding during the year.
For the purpose of calculating diluted earnings per share, the net
profit or loss for the year attributable to equity shareholders and
weighted average number of shares outstanding during the year are
adjusted for the effects of all dilutive potential equity shares.
10 PROVISIONING FOR DEFERRED TAXES
The Provision for current tax is made after taking into consideration
benefits admissible under the provisions of the Income Tax Act, 1961.
Deferred Tax resulting from "timings difference" between book and
taxable profit is accounted for using the tax rates and laws that have
been enacted or substantially enacted as on the Balance Sheet date. The
Deferred Tax Asset is recognized and carried forward only to the extent
that there is a reasonable certainty that the assets will be realized
in future.
Mar 31, 2013
01 ACCOUNTING CONVENTIONS
The Financial Statements are prepared on Historical Cost Convention.
Financial Statements are prepared in accordance with relevant
presentational requirements of the Companies Act, 1956 and applicable
mandatory Accounting Standards.
02 INVESTMENTS
Investments are long-term investments, hence valued at cost.
03 RECOGNITION OF INCOME & EXPENDITURE
Income & Expenditures are accounted for on accrual basis, except
Dividend which is accounted for on Receipt Basis.
04 TAXES ON INCOME
Current Tax is determined as the amount of tax payable in respect of
taxable income for the year. Deferred Tax is recognised, subject to
consideration of prudence, in respect of deferred tax assets /
liabilities on timing difference, being the difference between taxable
income and accounting income that originated in one period and are
capable of reversal in one or more subsequent periods.
05 CONTINGENT LIABILITIES
Contingent Liability, if any is disclosed by way of notes on accounts.
06 EARNING PER SHARE
Earnings per share is calculated by dividing the net profit or loss for
the year attributable to equity shareholders, by the weighted average
number of equity shares outstanding during the year. For the purpose of
calculating diluted earnings per share, the net profit or loss for the
year attributable to equity shareholders and weighted average number of
shares outstanding during the year are adjusted for the effects of all
dilutive potential equity shares
Mar 31, 2012
01 ACCOUNTING CONVENTIONS
The Financial Statements are prepared on Historical Cost Convention.
Financial Statements are prepared in accordance with relevant
presentational requirements of the Companies Act, 1956 and applicable
mandatory Accounting Standards.
02 INVESTMENTS
Investments are long-term investments, hence valued at cost.
03 RECOGNITION OF INCOME & EXPENDITURE
Income & Expenditures are accounted for on accrual basis, except
Dividend which is accounted for on Receipt Basis.
04 TAXES ON INCOME
Current Tax is determined as the amount of tax payable in respect of
taxable income for the year. Deferred Tax is recognised, subject to
consideration of prudence, in respect of deferred tax assets /
liabilities on timing difference, being the difference between taxable
income and accounting income that originated in one period and are
capable of reversal in one or more subsequent periods
05 PRELIMINARY EXPENSES
Preliminary Expenses is amortised over a period of five years.
06 CONTINGENT LIABILITIES
Contingent Liability , if any is disclosed by way of notes on accounts.
07 EARNING PER SHARE
Earnings per share is calculated by dividing the net profit or loss for
the year attributable to equity shareholders, by the weighted average
number of equity shares outstanding during the year For the purpose of
calculating diluted earnings per share, the net profit or loss for the
year attributable to equity shareholders and weighted average number of
shares outstanding during the year are adjusted for the effects of all
dilutive potential equity shares
Mar 31, 2011
01 ACCOUNTING CONVENTIONS
The Financial Statements are prepared on Historical Cost Convention.
Financial Statements are prepared in accordance with relevant
presentational requirements of the Companies Act, 1956 and applicable
mandatory Accounting Standards.
02 INVESTMENTS
Investments are long-term investments, hence valued at cost.
03 RECOGNITION OF INCOME & EXPENDITURE
Income & Expenditures are accounted for on accrual basis, except
Dividend which is accounted for on Receipt Basis.
04 TAXES ON INCOME
Current Tax is determined as the amount of tax payable in respect of
taxable income for the year.
Deferred Tax is recognised, subject to consideration of prudence, in
respect of deferred tax assets / liabilities on timing difference,
being the difference between taxable income and accounting income that
originated in one period and are capable of reversal in one or more
subsequent periods.
05 PRELIMINARY EXPENSES
Preliminary Expenses is amortised over a period of five years.
06 CONTINGENT LIABILITIES
Contingent Liability, if any is disclosed by way of notes on accounts.
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