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Notes to Accounts of Tulive Developers Ltd.

Mar 31, 2015

1. (a) Disclosures of related parties

Name of Company Interested Director

(I) Acura Agencies & Sales Private Ltd Mr. Atul Gupta

(ii) G K Shetty Builders Private Ltd Mr. K V Ramana Shetty

(b).Details of Transactions as required by AS-18

2. PROVISION FOR TAXATION:

Provisions for Taxation has been made ascertaining taxable income .Since the share income from firms and agricultural income are totally excluded under Section 10 of it Act 1961 the same have been excluded while determining taxable income .There is NO liability for Deferred tax.

3. Confirmation of Balances as at 31.3.2015 have NOT been received from certain parties / persons in response to letters sent seeking confirmation of balances.

4. Figures for the previous years have been regrouped and reclassified wherever required to conform to the classification as per accounts drawn as per Schedule VII of the Companies Act 2013.


Mar 31, 2014

1. Note:

(i) of the above issued shares 4,96,875 Equity shares were issued as Right shares at par on 24.4.2010

(ii) as per the above shares 27,87,500 Equity Shares were alloted as Bonus Shares at par on 12.10.2010 by way of Captilisation of part of General Reserve.

(iii) There are no restrictions attached to issued equity Capital on distribution of Dividends and voting Rights

(iv) There is No holding Company holding any of the issued shares

(v) Shares held in the Company held by each share holder holding more than 5% of shares issued

2. PROVISION FOR TAXATION:

Since the share income from firm (Net) and agricultural income are totally exempt under Section 10 of Income Tax Act 1961, provision for taxation is made on other taxable income. Tax under section 115JB (MAT) is lower than current tax provided for . There is NO liability for deferred tax .

3. Confirmation of balances as at 31.3.2014 have NOT been received from certain parties in response to letters sent seeking confirmation of balances.

4. Figures for the previous years have been regrouped and reclassified wherever necessary to conform to the classification as per accounts drawn in accordance with the Revised Schedule VI and in the absence of specific requirement, Balance Sheet abstract and General Profile of the Company are NOT furnished.


Mar 31, 2013

1. PROVISION FOR TAXATION :

Since the share income from firms (Net) and agricultural income are totally exempt under Section 10 and excluded from taxable income, provision for taxation including Minimum Alternative Tax (MAT-u/s 115JB) on Book Profit is considered Not necessary. Further as at 31" March 2013 there is no liability to provide for deferred taxation.

2. Confirmation of balances as at 31.3.2013 have not been received from few parties in response to letters sent seeking confi rmation of balances.

3. Figures for the previous year have been regrouped and reclassified wherever necessary to conform to the classification in term of accounts drawn in accordance with the Revised Schedule VI and in the absence of specific requirement, Balance Sheet abstract and General Profile of the Company are not furnished.


Mar 31, 2012

1. Accompanying Financial Statements for the year ended 31st March 2012

II OTHER NOTES: 31.3.2012 31.3.2011 Rs. Rs.

I. Estimated amount of contracts remaining to be executed on Capital Accounts and not provided for NIL NIL

2. Contingent liabilities NIL NIL

3. The Company did not carry on any manufacturing activity - - during the year.

4. There were no imports of raw materials stores spare parts and Capital goods during the year in pouring foreign exchange - -

5. Earnings in Foreign Exchange NIL NIL

6. Consumption of imported raw materials NIL NIL

7. Remittance in foreign currency on account of Dividends NIL NIL

9. PROVISION FOR TAXATION:

Since the share income from firms (Net) and agricultural income are totally exempt under Section 10 and excluded from taxable income, provision for taxation including Minimum Alternative Tax (MAT- u/s 115JB) on Book Profit is considered Not necessary. Further as at 3Tst March 2012 there is no liability to provide for deferred taxation.

10. DISPUTED INCOME - TAX DEMAND: Rs. 78,64,120/- Honorable Income Tax Appellate Tribunal, Mumbai Bench E in their Order dated 17.6.2011 in I.T.A No. 1374/MUM/2010 up holding our contention allowed and decidedthe issue in favour of Company, resulting in deletion of the entire disputed demand.

11. Confirmation of balances as at 31.3.2012 has not been received from few parties in response to letters sent seeking confirmation of balances.

12. Figures for the previous year have been regrouped and reclassified wherever necessary to conform to the classification in term of accounts drawn in accordance with the Revised Schedule VI and in the absence of specific requirement, Balance Sheet abstract and General Profile of the Company are not furnished.


Mar 31, 2011

1. DISCLOSURE AS REQUIRED BY ACCOUNTING STANDARD-18

A RELATED PARTY DISCLOSURES

(I) Acura Agencies & Sales Private Ltd - Director interested Sri ATUL GUPTA

(II) G.K.Shetty Builders Private Ltd - Director Sri. K.V.RAMANA SHETTY

(III) Messrs: KERRY ESTATE - Firm in which the company is a partner

(IV) Messrs: TULIVE ESTATE - -DO-

(V) Messrs: TULIVE PROPERTIES - -DO-

2. Since the share income from firms and agricultural income are exempt u/s 10 and excluded from taxable income, provision for taxation including Minimum Alternative Tax (U/s 115JB) on Book Profit is considered not necessary.

3. Disputed Income tax Demand of Rs.78,64,120/- No provision in respect of disputed demand of Rs.78,64,120/- relating to Income tax Assessment Year 2005 - 06 as per regular Assessment order U/s. 143(3) dated 31.12.2007. is made since appeal filed before Income Tax Appellate Tribunal Mumbai Bench is pending.

4. Confirmation of Balances as at 31-3-2011 have not been received from certain parties in response to company letters seeking confirmation of balances

5. Figures for the previous year have been regrouped / reclassified wherever necessary to conform to current years' grouping and classifications


Mar 31, 2010

A. RELATED PARTY DISCLOSURE of Transactions AS - 18

(I) Acura Agencies & Sales Private Limited

(II) G.K.Shetty Builders Private Limited

(III) Directors

(a) K.V. Ramana Shetty

(b) Atul Gupta

(iv) KERRY ESTATE - Partnership firm in which the company is a partner

(v) TULIVE ESTATE - Partnership firm in which the company is a partner

1. Confirmation of balances as at 31.03.2010 have not been received from certain parties in response to letters seeking confirmation of balances sent to all parties.

2. Figures for the previous year have been regrouped / reclassified wherever necessary to conform to current years classifications.

3. In the absence of taxable income as well as any taxable book profits U/s. 115JB provisions for taxation has not been made. Provisions for Fringe Benefit tax has been made determining the value of "Fringe Benefits"

4. Disputed Income tax Demand of Rs.78,64,120/- No provision in respect of disputed demand of Rs.78,64,120/- relating to Income tax Assessment Year 2005 - 06 as per regular Assessment order U/s. 143(3) dated 31.12.2007. An appeal filled against the disputed assessment is pending before CIT (A) - II Mumbai.

 
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