Mar 31, 2013
1. System of Accounting
a. Financial statements are based on historical cost.
b. The Company follows the mercantile system of accounting and
recognises income and expenditure on accrual basis except in case of
significant uncertainties.
2. FIXED ASSETS AND DEPRECIATION
a. Fixed Assets are stated at cost less depreciation. Cost includes
all identifiable expenditure incurred to bring the assets to its
present condition and location.
b. Depreciation has been provided in the books of accounts on Written
Down Value Method as specified in Schedule XIV of the Companies Act,
1956.
3. INVENTORIES: The Company does not have inventories.
4. INCOME TAXES:
Current Tax: Provision for Income-Tax is determined in accordance with
the provisions of Income-tax Act 1961.
Deferred Tax Provision: Deferred tax is recognized, on timing
difference, being the difference between the taxable incomes and
accounting income that originate in one period and are capable of
reversal in one or more subsequent periods.
Mar 31, 2012
1. System of Accounting
a. Financial statements are based on historical cost.
b. The Company follows the mercantile system of accounting and
recognizes income and expenditure on accrual basis except in case of
significant uncertainties.
2. FIXED ASSETS AND DEPRECIATION
a. Fixed Assets are stated at cost less depreciation. Cost includes
all identifiable expenditure incurred to bring the assets to its
present condition and location.
b. Depreciation has been provided in the books of accounts on Written
Down Value Method as specified in Schedule XIV of the Companies Act,
1956.
3. INVENTORIES: The Company does not have inventories.
4. INCOME TAXES:
Current Tax: Provision for Income Tax is determined in accordance with
the provisions of Income tax Act 1961.
Deferred Tax Provision: Deferred tax is recognized, on timing
difference, being the difference between the taxable incomes and
accounting income that originate in one period and are capable of
reversal in one or more subsequent periods.
Mar 31, 2011
1 (a) System of Accounting
i) Financial statements are based on historical cost.
ii) The Company follows the mercantile system of accounting and
recognizes income and expenditure on accrual basis except in case of
significant uncertainties.
(A) Fixed Assets and Depreciation
i) Fixed Assets
Fixed Assets are stated at cost less depreciation. Cost includes all
identifiable expenditure incurred to bring the assets to its present
condition and location.
ii) Depreciation
Depreciation has been provided in the books of accounts on Written down
Value Method as specified in Schedule XIV of the Companies Act, 1956.
(B) Taxation
Current Tax: Provision for Income-Tax is determined in accordance with
the provisions of Income-tax Act 1961.
Deferred Tax Provision: Deferred tax is recognized, on timing
difference, being the difference between the taxable incomes and
accounting income that originate in one period and are capable of
reversal in one or more subsequent periods.
(C) Inventories
The Company does not have inventories.
Mar 31, 2010
1. A.System of Accounting
i. Financial statements are based on historical cost.
ii. The Company follows the mercantile system of accounting and
recognizes income and expenditure on accrual basis except in case of
significant uncertainties.
B. Fixed Assets and Depreciation
i. Fixed Assets
Fixed Assets are stated at cost less depreciation. Cost includes all
identifiable expenditure incurred to bring the assets to its present
condition and location.
ii. Depreciation
Depreciation has been provided in the books of accounts on Written Down
Value Method as specified in Schedule XTV of the Companies Act, 1956.
C. Taxation
i. Current Tax : Provision for Income-Tax is determined in accordance
with the provisions of Income-tax Act 1961.
ii. Deferred Tax Provision : Deferred tax is recognized, on timing
difference, being the difference between the taxable incomes and
accounting income that originate in one period and are capable of
reversal in one or more subsequent periods.
D. Inventories
The Company does not have inventories.
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