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Accounting Policies of TCI Industries Ltd. Company

Mar 31, 2014

I. Recognition of Income & Expenditure: Income and expenditure are recognized on.accrual basis.

ii. Fixed assets are stated at cost and/or at revaluation.

iii. Depreciation is provided on straight-line method at rates specified in Schedule XIV to the Companies Act, 1956. Depreciation on addition/deductions is calculated pro-rata from/to the month of addition/ deduction.

iv. Gratuity: The Company is a participant of group gratuity scheme with Life Insurance Corporation of India and the required premium under the scheme is paid.

v. As there is no reasonable certainty that sufficient future taxable income will be available against which deferred tax assets can be realized, no deferred tax assets have been recognized in the accounts in respect of brought forward losses eligible as per Income Tax Act.


Mar 31, 2013

I. Recognition of Income & Expenditure: Income and expenditure are recognized on. accrual basis.

ii. Fixed assets are stated at cost and/or at revaluation.

iii. Depreciation is provided on straight-line method at rates specified in Schedule XIV to the Companies Act, 1956. Depreciation on addition/deductions is calculated pro-rata from/to the month of addition/deduction.

iv. Gratuity: The Company is a participant of group gratuity scheme with Life Insurance Corporation of India and the required premium under the scheme is paid.

v. As there is no reasonable certainty that sufficient future taxable income will be available against which deferred tax assets can be realized, no deferred tax assets have been recognized in the accounts in respect of brought forward losses eligible as per Income Tax Act.


Mar 31, 2012

1. Recognition of Income & Expenditure: Income and expenditure are recognized on accrual basis.

2. Gratuity: The Company is a participant of group gratuity scheme with Life Insurance Corporation of India and the required premium under the scheme is paid.

3. As there is no reasonable certainty that sufficient future taxable income will be available against which deferred tax assets can be realized, no deferred tax assets have been recognized in the accounts in respect of brought forward losses eligible as per Income Tax Act.

4. Depreciation: Depreciation is provided on straight-line method at rates specified in Schedule XIV to the Companies Act, 1956. Depreciation on addition/deductions is calculated pro-rata from/to the month of addition/ deduction.

5. Fixed Assets: Fixed assets are stated at cost and/or at revaluation.


Mar 31, 2011

1. Recognition of Income & Expenditure: Income and expenditure are recognized on accrual basis.

2. Gratuity: The Company is a participant of group gratuity scheme with Life Insurance Corporation of India and the required premium under the scheme is paid.

3. As there is no reasonable certainty that sufficient future taxable income will be available against which deferred tax assets can be realized, no deferred tax assets have been recognized in the accounts in respect of brought forward losses eligible as per Income Tax Act.

4. Depreciation: Depreciation is provided on straight-line method at rates specified in Schedule XIV to the Companies Act, 1956. Depreciation on addition/deductions is calculated pro-rata from/to the month of addition/ deduction.

5. Fixed Assets: Fixed assets are stated at cost and/or at revaluation.


Mar 31, 2010

1. Recognition of Income & Expenditure: Income and expenditure are recognised on accrual basis.

2. Gratuity: The Company is a participant of group gratuity scheme with Life Insurance Corporation of India and trie required premium under the scheme is paid.

3. As there is no reasonable certainty that sufficient future taxable income will be available against which deferred tax assets can be realized, no deferred tax assets have been recognized in the accounts in respect of brought forward losses eligible as per Income Tax Act.

4. Depreciation: Depreciation is provided on straight-line method at rates specified in Schedule XIV to the Companies Act, 1956. Depreciation on addition/deductions is calculated pro-rata from/to the month of addition/ deduction.

5. Fixed Assets: Fixed assets are stated at cost and/or at revaluation.

 
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