Mar 31, 2015
I. The Financial Statements are prepared on Accrual Basis under
Historic Cost Convention and in accordance with the generally accepted
accounting principles in India and the Accounting Standards specified
in The Companies Act, 2013 / 1956 and rules notified thereto with
proper explanations relating to material departures. The Company being
a Non-Banking finance Company follows the guidelines as prescribed by
the Reserve Bank of India to the extent applicable to it.
ii. All assets and liabilities have been classified as current or
non-current as per the Companies operating cycle and other criteria set
out in the Schedule III to the Companies Act, 2013. The Company has
ascertained its operating cycle as 12 months for the purpose of current
- non current classification of assets and liabilities.
iii. Fixed Assets are stated at cost including any acquisition
expenses. The accounting of fixed assets is done as Block of Assets as
provided in Income Tax Act, 1961. Provision for depreciation in books
is also made at rates on written down value basis as per provision of
Income Tax Act, 1961 which are different from the rates prescribed
under The Companies Act, 2013. The basis adopted by company satisfies
the criteria of useful lives of the assets. Difference in depreciation
as per Company's Act and as per Income Tax Act, is not material.
iv. Investments - Investments are stated at cost. Investment in
properties that are not intended to be substantially used for the
operations of the company are classified as Investment Property. Income
from Investments is accounted for as and when realised by the company
and is included together with the related tax credit in the Profit &
Loss Account.
v. Loans and advances which are recoverable on demand or stipulation
in cash or kind or for value to be received are classified as short
term. The interests on Loan amounts given are provided whenever it is
receivable.
Mar 31, 2014
I. The Financial Statements are prepared on Accrual Basis under
Historic Cost Convention and in accordance with the Revised Schedule VI
to The Companies Act, 1956 and the Accounting Standards specified by
the Institute of Chartered Accountants of India with proper
explanations relating to material departures. The Company being a
Non-Banking finance Company follows the guidelines as prescribed by the
Reserve Bank of India to the extent applicable to it.
ii. Fixed Assets are stated at cost including any acquisition
expenses. Accounting standard 6 provides for provision of depreciation
as per Company''s Act, however as a measure of prudence depreciation in
books is provided at higher rates on written down value basis and the
accounting of fixed assets in books of accounts is done as per
provision of Income Tax Act, 1961 as Block of Assets. The difference in
depreciation as per Company''s Act and as per Income Tax Act, is not
material.
iii. Investments - Investments are stated at cost. Income from
Investments is accounted for as and when realised by the company and is
included together with the related tax credit in the Profit & Loss
Account.
iv. Loans and advances which are recoverable on demand or stipulation
in cash or kind or for value to be received are classified as short
term. The interests on Loan amounts given are provided whenever it is
receivable.
Mar 31, 2013
I. The Financial Statements are prepared on Accrual Basis under
Historic Cost Convention and in accordance with the Revised Schedule VI
to The Companies Act, 1956 and the Accounting Standards specified by
the Institute of Chartered Accountants of India with proper
explanations relating to material departures. The Company being a
Non-Banking finance Company follows the guidelines as prescribed by the
Reserve Bank of India to the extent applicable to it.
ii. Fixed Assets are stated at cost including any acquisition expenses.
Accounting standard 6 provides for provision of depreciation as per
Company''s Act, however as a measure of prudence depreciation in books
is provided at higher rates on written down value basis and the
accounting of fixed assets in books of accounts is done as per
provision of Income Tax Act, 1961 as Block of Assets. The difference in
depreciation as per Company''s Act and as per Income Tax Act, is not
material.
iii. Investments - Investments are stated at cost. Income from
Investments is included together with the related tax credit in the
Profit & Loss Account.
iv. Loans and advances which are recoverable on demand or stipulation
in cash or kind or for value to be received are classified as short
term. The interests on Loan amounts given are provided whenever it is
receivable.
Mar 31, 2011
I. The Financial Statements are prepared on Accrual Basis under
Historic Cost Convention and in accordance with the Accounting
Standards specified by the Institute of Chartered Accountants of India
with proper explanations relating to material departures.
ii. Fixed Assets are stated at cost including any acquisition expenses.
Depreciation is provided at higher rates on written down value basis as
per Income Tax Act. Accounting standard 6 provides for provision of
depreciation as per Company's Act, however as a measure of prudence,
the accounting of fixed assets in books of accounts is done as per
provision of Income Tax Act, 1961 as Block of Assets. The difference in
depreciation as per CompanyÃs Act and as per Income Tax, Act is not
material.
iii. Investments - Investments are stated at cost. Income from
Investments is included together with the related tax credit in the
Profit & Loss Account.
Mar 31, 2010
I. The Financial Statements are prepared on Accrual Basis under
Historic Cost Convention and in accordance with the Accounting
Standards specified by the Institute of Chartered Accountants of India
with proper explanations relating to material departures.
ii. Fixed Assets are stated at cost including any acquisition expenses.
Depreciation is provided at higher rates on written down value basis as
per Income Tax Act. Accounting standard 6 provides for provision of
depreciation as per Companys Act, however as a measure of prudence,
the accounting of fixed assets in books of accounts is done as per
provision of Income Tax Act, 1961 as Block of Assets. The difference in
depreciation as per Companys Act and as per Income Tax, Act is not
material.
iii Investments - Investments are stated at cost. Income from
Investments is included together with the related tax credit in the
Profit & Loss Account.
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