Mar 31, 2014
I) Basis of preparation :
The accounts are prepared under Historical Cost Convention in
accordance with the generally accepted accounting principles in India
and the provisions of the Companies Act, 1956.
ii) Investments:
Long term Investments are valued at cost less provision made to
recognize any decline, other than temporary, in the value of such
investments.
iii) 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 on timing
differences, being the difference between taxable income and
accounting income that originate in one period and is capable of
reversal in one or more subsequent periods.
Mar 31, 2011
I) The accounts are prepared under Historical Cost Convention in
accordance with the generally accepted accounting principles in India
and the provisions of the Companies Act, 1956.
ii) Investments:
Long term Investments are valued at cost less provision made to
recognize any decline, other than temporary, in the value of such
investments.
iii) Taxes on Income:
i) Current tax is determined as the amount of tax payable in respect of
taxable income for the year.
ii) Deferred tax is recognised on timing diferences, being the
difference between taxable income and accounting income that originate
in one period and is capable of reversal in one or more subsequent
periods.
Mar 31, 2010
I) The accounts are prepared under Historical Cost Convention in
accordance with the generally accepted accounting principles in India
and the provisions of the Companies Act, 1956.
ii) Investments:
Long term Investments are valued at cost less provision made to
recognize any decline, other than temporary, in the value of such
investments.
iii) Taxes on Income:
i) Current tax is determined as the amount of tax payable in respect of
taxable income for the year.
ii) Deferred tax is recognised on timing differences, being the
difference between taxable income and accounting income that originate
in one period and is capable of reversal in one or more subsequent
periods.
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