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Accounting Policies of NCC Finance Ltd. Company

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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