Mar 31, 2014
1. General
i) The Accounts have been prepared on historical cost basis changes, if
any, in the purchasing of money
ii) All revenue and expenses are accounted on accrual basis
2. Taxation
i) Provision for current tax is made after taking into consideration
benefits admissible under the provision of the Income Tax Act, 1961.
ii) Deferred Tax resulting from timing difference between book &
taxable profit is accounted for using rates and law that have been
enacted as on the Balance Sheet Date. Deferred Tax assets, if any, is
recognized and carried forward only to the extent that there is a
reasonable certainty that the assets will be realized in future.
3. Borrowing Cost
Borrowing cost directly attributed to the acquisition of the fixed
assets are capitalized a part of the cost the asset, up to the date of
the assets is put to use, other borrowing costs are changed to profit &
loss account in the year in which they are incurred .
4. Investment
Long term investments are stated at cost. Provision for diminution in
value of long term investment is made as if such a decline is other
than temporary.
5. Cash and cash equivalents
Cash comprise cash in hand demand deposits with banks.
6. Cash flow statement
Cash Flow are reported using the indirect method, whereby profit /
(loss before extraordinary items and tax is adjusted for the effects of
transactions of non - cash nature and deferrals or accruals of past or
future cash receipts or payments. The cash flows from operating,
investing and financing activities of the Company are segregated based
on the available information.
7. Income Recognition
Income earn during the year is form commission on ticket & tour
package, sale of Bottled Water, contact Car Hire charges & Incidental
Income thereto.
Mar 31, 2013
1. General
i) The accounts have been prepared on historical cost basis ignoring
changes, if any, in the purchasing power of money.
ii) All revenue and expenses are accounted on accrual basis.
2. Taxation
i) Provision for current tax is made after taking into consideration
benefits admissible under the provision of the Income Tax Act, 1961.
ii) Deferred Tax resulting from timing difference between book &
taxable profit is accounted for using tax rates and law that have been
enacted as on the Balance Sheet Date. Deferred Tax asset, if any, is
recognised and carried forward only to the extent that there is a
reasonable certainty that the assets will be realised in future.
3. Borrowing Cost
Borrowing cost directly attributable to the acquisition or construction
of fixed assets are capitalized as part of the cost of the asset, up to
the date of the asset is put to use , other borrowing costs are charged
to profit & loss account in the year in which they are incurred.
4. Investment
Long term investments are stated at cost. Provision for diminution in
value of long term investment is made only if such a decline is other
than temporary.
5. Cash and cash equivalents
Cash comprises cash on hand and demand deposits with banks.
6. Cash flow statement
Cash flows are reported using the indirect method, whereby profit /
(loss) before extraordinary items and tax is adjusted for the effects
of transactions of non-cash nature and any deferrals or accruals of
past or future cash receipts or payments.
Mar 31, 2009
A. The Financial Statement of the Company are prepared under the
historical cost convention in accordance with the generally accepted
accounting principles and provisions to the companies Act, 1956, using
the accrual method of accounting and on the basis of going concern.
b. Accounting policies not specifically referred to otherwise are in
consonance with generally accepted accounting principles.
c. As the Company do not owns any fixed assets. Question of valuation
to fixed assets as per schedule (xiv) of the Companies Act, 1956 do not
arises.
d. Retirement benefits : since there are no employee no provision for
gratuity has been made:
e. Inventory since Nil the question of valuation does not arise.
f. Preliminary expenses shall be written of after commencement of
commercial activities.