Mar 31, 2014
(i) Accounting for taxes on income:
Deferred Tax Assets are not recognized in respect of unabsorbed
depreciation and carry forward of losses under tax laws as there is no
convincing evidence to support that the sufficient future taxable
income will be available against which such deferred tax assets can be
realized.
(ii) Balances of Trade receivables and Trade payables are subject to
confirmation.
(iii) The company is in the process of obtaining the information of the
registration status of suppliers as required under the Micro, Small and
Medium Enterprises Development Act, 2006. Hence the information
required under the said Act could not be compiled and disclosed.
(iv) Company has surrendered certificate of registration as Non Banking
Financial Company to Reserve Bank of India on 15.12.2000. During the
year no new business of NBFC''s carried by company.
(v) Previous year figures have been regrouped and rearranged wherever
found necessary.
Mar 31, 2013
(i) There was no contingent liability as on 31.03.2013
(ii) Establishment of the company is in the premises of Autolite
(India) Limited. The expenditure incurred for the purpose of company''s
work has been reimbursed to that company. These are debited as follows:
(iii) Accounting for taxes on income:
Deferred Tax Assets are not recognized in respect of unabsorbed
depreciation and carry forward of losses under tax laws as there is no
convincing evidence to support that the sufficient future taxable
income will be available against which such deferred tax assets can be
realized.
(iv) Balances of Trade receivables and Trade payables are subject to
confirmation.
(v) The company is in the process of obtaining the information of the
registration status of suppliers as required under the Micro, Small and
Medium Enterprises Development Act, 2006. Hence, the information
required under the said Act could not be compiled and disclosed.
(vi) Company has surrendered certificate of registration as Non Banking
Financial Company to Reserve Bank of India on 15.12.2000. During the
year no new business of NBFC''s carried by company.
(vii) Previous year figures have been regrouped and rearranged wherever
found necessary.
Mar 31, 2012
Company Overview
Palsoft Infosy stems Limited is the IT Arm of the Autopal Group which
is India's leading Automotive Component Manufacturer. The Company
provides "Engineering and Design Services along with software
development consulting and Project Management. The Company is listed in
the Bombay Stock Exchange and its corporate headquarters is in Jaipur
(Rajasthan).
1.1 Accounting for taxes on income:
Deferred Tax Assets are not recognized in respect of unabsorbed
depreciation and carry forward of losses under tax laws as there is no
convincing evidence to support that the sufficient future taxable
income will be available against which such deferred tax assets can be
realized.
1.2 Balances of debtors and creditors are subject to confirmation.
1.3 The company is in the process of obtaining the information of the
registration status of suppliers as required under the Micro, Small and
Medium Enterprises Development Act, 2006. Hence the information
required under the said Act could not be compiled and disclosed.
1.4 Company has surrendered certificate of registration as Non Banking
Financial Company to Reserve Bank of India on 15.12.2000. During the
year no new business of NBFC's carried by company.
Mar 31, 2011
1. CONTINGENT LIABILITIES AS ON
31/03/2011 31/03/2010
Disputed Sales Tax Demand 1,59,307 1,59,307
2. ACCOUNTING FOR TAXES ON INCOME
Deferred Tax Assets are not recognised in respect of unabsorbed
depreciation and carry forward of losses under tax laws as there is no
convincing evidence to support that the sufficient future taxable
income will be available against which such deferred tax assets can be
realised.
3. Balances of debtors and creditors are subject to confirmation.
4. The Company is in the process of obtaining the information of the
registration status of suppliers as required under the Micro, Small and
Medium Enterprises Development Act, 2006. Hence the information
required under the said Act could not be complied and disclosed.
5. Company has surrendered certificate of registration as Non Banking
Financial Company to Reserve Bank of India on 15.12.2000. During the
year no new business of NBFC's carried by company.
6. Figures of previous year reworked, regrouped & rearranged wherever
found necessary.
7. Managerial remuneration paid to managing director Rs. 612,000 and
other director Rs. 360,000.
8. Other information or details required by schedule VI Part I and
Part II are either Nil or not applicable.
9. Balance Sheet Abstract and Company's General Business Profile is
annexed with Notes on Accounts.
Mar 31, 2010
1. CONTINGENT LIABILITIES AS ON
31/03/2010 31/03/2009
Disputed Sales Tax Demand 1,59,307 1,59,307
2. ACCOUNTING FOR TAXES ON INCOME :
Deferred Tax Assets are not recognised in respect of unabsorbed
depreciation and carry forward of losses under tax laws as there is no
convincing evidence to support that the sufficient future taxable
income will be available against which such deferred tax assets can be
realised.
3. Balances of debtors and creditors are subject to confirmation.
4. The Company is in the process of obtaining the information of the
registration status of suppliers as required under the Micro, Small and
Medium Enterprises Development Act, 2006. Hence the information
required under the said Act could not be complied and disclosed.
5. Company has surrendered certificate of registration as Non Banking
Financial Company to Reserve Bank of India on 15.12.2000. During the
year no new business of NBFCs carried by company.
6. Figures of previous year reworked, regrouped & rearranged wherever
found necessary.
7. The company has identified all the related parties transaction
during the year as per details given below, in respect of the
outstanding balance recoverable/payable as at 31st March, 2010. No
provision for doubtful debts is required to be made. During the year,
there were no amounts written off or written back from such parties.
8. Advances includes Rs. NIL from Directors with Maximum Debit Balance
of Rs. 1015931 (Previous year NIL)
9. Managerial Remuneration paid to Managing Director Rs. 153000 and
other Director Rs. 90000.
10. Other information or details required by schedule VI Part I and
Part II are either Nil or not applicable.
11. Balance Sheet Abstract and Companys General Business Profile is
annexed with Notes on Accounts.