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Accounting Policies of Swastik Safe Deposit & Investments Ltd. Company

Mar 31, 2014

A Basis of Preparation

The financial statements are prepared under the historical cost convention, on accrual basis, and comply with the accounting standards referred to in Section 211(3C) of the Companies Act, 1956.

b Revenue Recognition

Company follows accrual system of accounting and takes into account expense and incomes as accrued. Dividend income is recognised when the company''s right to receive dividend established by the reporting date.

c Provision for Current and Deferred Taxation

Provision for current tax is made at the amount expected to be paid to taxation authority in accordance with the Income Tax Act, 1961.

d Investment

Investment share stated at cost.


Mar 31, 2013

A Basis of Preparation

The financial statements are prepared under the historical cost convention, on accrual basis, and comply with the accounting standards referred to in Section 211(3C) of the Companies Act, 1956.

b Revenue Recognition

Company follows accrual system of accounting and takes into account expense and incomes as accrued. Dividend income is recognized when the company''s right to receive dividend established by the reporting date.

c Provision for Current and Deferred Taxation

Provision for current tax is made at the amount expected to be paid to taxation authority in accordance with the Income Tax Act, 1961.

d Investment

Investments are stated at cost.


Mar 31, 2010

I) Basis of Accounting:

Financial Statements are prepared on accrual basis of accounting.

ii) Investments:

a) Investments ( Long Term ) are stated at cost.

iii) Interest on Demand/Call loans:

Interest on demand/call loans ore accounted as on year end or on date of repayment of demand/call loans whichever is earlier.

iv) Deferred Tax Liabilities/ Assets: There are no deferred tax assets / liabilities.

v) Prior Period Items: Prior period adjustements represent excess or short provision for income tax of earlier years.


Mar 31, 2009

I) Basis of Accounting:

Financial Statements are prepared on accrual basis of accounting.

ii) Investments:

Investments ( Long Term ) are stated at cost.

iii) Interest on Demand/Call loans:

Interest on demand/call loans are accounted as on year end or on date of repayment of j demand/call loans whichever is earlier.

iv) Deferred Tax Liabilities/ Assets:

There are no deferred tax assets / liabilities.

v) Prior Period Items:

Prior period adjustements represent excess or snort provision for income tax of earlier years.