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Notes to Accounts of Kanak Krishi Implements Ltd.

Mar 31, 2014

1) The inventories of the company are valued as per cost price and market price which ever is less.

2) Deffered tax arising on account of timing differeance and which are capable of rev ersal in one or more subsequent periods is recognised using the tax rates and tax laws that have been enacted or substantively enacted. Deffered tax assests are recognised unless there is virtual certainty with respect to the reversal of the same in future years.

3) The revised Schedule VI as notif ied under the companies Act,1956, has become applicable to the company for the presentation of its financial statements for the year ending March 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.

4) All schedules annexed to and form integral part of the Balance Sheet and Profit & Loss Account.


Mar 31, 2013

1) The previous year''s figures have been reworked, regrouped, rearranged and reclassified wherever necessary.

2) All (he investments made by the company are valued at Cost.

3) Managerial Remuneration: Nil

4) The inventories of the company are valued as per cost price and market price whichever is less.

5) Differed tax arising on account of timing difference and which are capable of reversal in one or more subsequent periods is recoanised using the tax rates and tax lows that have been enhanced or substantively enacted. Differed tax assets are recognised unless the is virtual certainty with respect to the of the same in future years.

6) The received 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 March 31, 2013. The adaptation of the received Schedule VI requirements has significantly modified the presentation and disclosure 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 from integral part of the Balance Sheet and Profit & Loss Account.

8) Minimum Alternative Tax (MAT) is recognised as an assets only when and to the extent there is conversing evidence that the company will play normal income tax during the specific 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 convicting evidence to the effect that company will pay normal income tax during the specific period.

9) The Company has no employee to whom the provisions of section 217 (2A) of the Companies Act, 1956 are applicable.


Mar 31, 2012

1) The previous year''s figures have been reworked, regrouped, rearranged and reclassified wherever necessary.

2) All the movement mode by the company are Yokied at Cool.

3) Managerial Remuneration Nil

4) Company does not have any inventory as per AS-2.

5) Deferred tax arising account of tuning difference art which are capable of reversal in one or more subsiquent periods is recoganised using the tax rates and tax laws that have been or substancially enacted. Deferred tax assets are recognised unless there is virual certainty with respect to the reversal of the scene in future years.

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 March 31st 2013. The adaptation of the reviled Schedule VI requirements has significanty modified the presentation and disclosure which have been complied with in these financial statements Previous year figures have been reclassffied in accordance with current year requirements.

7) All Shedules annexured to and form Integral part of the Balence Sheet and Profit & Loss Account.

8) Minimum Alternative Tax (MAT) is recognised as on asset only when and to the attend there is conducting evidence that the company will pay normal income tax during the specified period. The Company reviews the some 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) The Company has no employee to whom the provision of section 317 (SA) of the Companies Act, 1956 are applicable.


Mar 31, 2011

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