Mar 31, 2015
(1) BASIS OF ACCOUNTING
The financial statements of the Company have been prepared in
accordance with the Generally Accepted Accounting Principles in India
(Indian GAAP). These financial statements have been prepared to comply
in all material aspects with the accounting standards specified under
Section 133 of Companies Act, 2013 (the Act), read with Rule 7 of the
Companies (Accounts) Rules, 2014.
All assets and Liabilities have been classified as current or
non-current as per the Company's normal operating cycle and other
criteria set out in the Companies Act, 2013.
The accounting policies adopted in the preparation of the financial
statements are consistent with those followed in the previous year.
(2) FIXED ASSETS
Fixed Assets are stated at their original cost of acquisition less
accumulated depreciation. Cost comprises of all costs incurred to bring
the assets to their location and working condition for its intended
use.
(3) DEPRECIATION
Depreciation has been provided on written down value method using such
rates arrived based on the useful lives of assets specified in Part C
of Schedule II thereto of the Companies Act, 2013.
(4) INVESTMENTS
Quoted Shares and Securities are stated at cost of acquisition.
Provision for diminution in the value of long term Investments is made,
only if such decline is other than temporary. Unquoted Shares are
stated at "cost price".
(5) INVENTORIES
Quoted Shares and Securities are stated at lower of "Cost" or "Market
Price". Unquoted Shares are stated at "cost price".
(6) REVENUE RECOGNITION
Sales are accounted as and when contract notes/bills raised upon the
parties. Items of Income and Expenditures are recognized on accrual
basis.
(7) TAXES ON INCOME
PCurrent tax is the amount payable on the taxable income for the year
determined in accordance with the provisions of the Income Tax Act,
1961.
Deferred tax is recognised on timing difference between the accounting
income and the taxable income for the period that originates in one
period and are capable of reversal in one or more subsequent periods.
Such deferred tax is quantified using tax rates and laws enacted or
substantively enacted as on balance sheet date.
Mar 31, 2014
(1) BASIS OF ACCOUNTING
The financial statements have been prepared under the historical cost
convention on the accrual basis of accounting in accordance with
accounting principles generally accepted in India (Indian GAAP) to
comply with the Accounting Standards prescribed by Companies
(Accounting Standards) Rules, 2006 issued by the Central Government (
which continues to the applicable in terms of General Circular 15/2013
dated September 13, 2013 of the Ministry of Corporate Affairs in
respect of section 133 of the Companies Act, 2013) and the provisions
of the Companies Act, 1956, (the ''Act'') to the extent applicable.
(2) FIXED ASSETS
These are stated at cost of acquisition or construction and subsequent
improvements thereto including taxes, duties, freight and other
specific expenses related to acquisition and installation less
accumulated depreciation.
(3) DEPRECIATION
This has been provided in the accounts at written down value method at
the rates as specified in the Schedule XIV of the Companies Act, 1956.
(4) INVESTMENTS
Quoted Shares and Securities are stated at cost of acquisition.
Provision for diminution in the value of long term Investments is made,
only if such decline is other than temporary. Unquoted Shares are
stated at "cost price".
(5) INVENTORIES
Quoted Shares and Securities are stated at lower of "Cost" or "Market
Price". Unquoted Shares are stated at "cost price".
(6) REVENUE RECOGNITION
Sales are accounted as and when contract notes/bills raised upon the
parties. Items of Income and Expenditures are recognized on accrual
basis.
(7) TAXES ON INCOME
Provision for current income tax is made on the assessable income at
the tax rate applicable to the relevant assessment year.
Deferred Tax is recognized, subject to consideration of prudence in
respect of deferred tax assets, on timing difference between taxable
incomes and accounting income that originate in one period and are
capable of reversal in one or more subsequent period.
Mar 31, 2013
(1) CONVENTION
The financial statements are prepared in accordance with the
requirement of the Companies Act, 1956, including the mandatory
Accounting Standards issued by the Institute of Chartered Accountants
of India, as referred to in Section 211 (3C) of the Companies Act, 1956
and the Guidelines issued by the RBI under the historical cost
convention on an accrual basis.
(2) FIXED ASSETS
These are stated at cost of acquisition or construction and subsequent
improvements thereto including taxes, duties, freight and other
specific expenses related to acquisition and installation less
accumulated depreciation.
(3) DEPRECIATION
This has been provided in the accounts at written down value method at
the rates as specified in the Schedule XIV of the Companies Act, 1956.
(4) INVESTMENTS
Quoted Shares and Securities are stated at cost of acquisition.
Provision for diminution in the value of long term Investments is made,
only if such decline is other than temporary. Unquoted Shares are
stated at "cost price".
(5) INVENTORIES
Quoted Shares and Securities are stated at lower of "Cost" or "Market
Price". Unquoted Shares are stated at "cost price".
(6) REVENUE RECOGNITION
Sales are accounted as and when contract notes/bills raised upon the
parties. Items of Income and Expenditures are recognized on accrual
basis.
(7) INCOME TAX
Provision for current income tax is made on the assessable income at
the tax rate applicable to the relevant assessment year.
Mar 31, 2012
(1)CONVENTION
The financial statements are prepared In accordance with the
requirement of the Companies Act, 1956, including the mandatory
Accounting Standards issued by the Institute of Chartered Accountants
of India, as referred to in Section 211 (3C) of the Companies Act, 1956
and the Guidelines issued by the RBI under the historical cost
convention on an accrual basis.
(2)FIXED ASSETS
These are stated at dost of acquisition or construction and subsequent
improvements thereto including taxes, duties, freight and other Specific
expenses related to acquisition and installation less accumulated
depreciation.
13) DEPRECIATION
This has been provided in the accounts at written down value method at
the rates as specified in the Schedule XIV of the Companies Act, 1956.
(4) INVESTMENTS
Quoted Shares and Securities are stated at cost of acquisition.
Provision for diminution in the value of long term Investments is made,
only if such decline is other than temporary. Unquoted Shares are
stated at "cost price".
(5)INVENTORIES
Quoted Shares and Securities are stated at lower of "Cost" or "Market
Price". Unquoted Shares are stated at "cost price".
(6) REVENUE RECOGNITION -
Sales are accounted as and when contract notes/biils raised upon the
parties. Items of Income and Expenditures are recognized on accrual
basis.
(7) INCOME TAX
Provision for current income tax is made on the assessable income at
the tax rate applicable to the relevant assessment year
Mar 31, 2011
(1) CONVENTION
The financial statements are prepared in accordance with the
requirement of the Companies Act. 1956, including the mandatory
Accounting Standards issued by the Institute of Chartered Accountants
of India, as referred to in Section 211 (3C) of the Companies Act, 1956
and the Guidelines issued by the RBI under the historical cost
convention on an accrual basis.
(2) FIXED ASSETS
These are stated at cost of acquisition or construction and subsequent
improvements thereto including taxes, duties freight and other specific
expenses related to acquisition and installation less accumulated
depreciation.
(3) DEPRECIATION
This has been provided in the accounts at written down value method at
the rates as specified in the Schedule XIV of the Companies Act, 1956.
(4) INVESTMENTS
Quoted Shares and Securities are stated at cost of acquisition.
Provision for diminution in the value of long term Investments is made,
only if such decline is other than temporary. Unquoted Shares are
stated at Âcost price".
(5) INVENTORIES
Quoted Shares and Securities are stated at lower of ÂCost" or "Market
Price*.Unquoted Shares are stated at ''cost price''.
(6) REVENUE RECOGNITION
Sales are accounted as and when contract notes/bills raised upon the
parties. Items of Income and Expenditures are recognized on accrual
basis.
(7) INCOME TAX
Provision for current income tax is made on the assessable income at
the tax rate applicable to the relevant assessment year