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Notes to Accounts of Tumus Electric Corporation Ltd.

Mar 31, 2015

Not available


Mar 31, 2014

NOTE 1

a) Fixed Assets / Intangible Assets - Company does not own any fixed asset.

b) Inventories - Company does not have any inventories

c) Contingent Liabilities - Nil

d) Earnings Per Share - Basic & Diluted earnings per share are calculated by dividing the net profit or loss for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period.

NOTE 2

Notes to Statement of Profit & Loss Account

a) Revenue Recognition - Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured.

b) Retirement and Other Employee Benefits - Liability in respect of gratuity to employees is accounted for and as and when paid.

d) Taxation - Provision for current tax is made for the tax liability payable on taxable income after considering tax allowances, deductions and exemptions determined in accordance with the prevailing tax laws.

e) Prior period comparatives - Previous year''s figures have been regrouped, rearranged or reclassified wherever necessary.


Mar 31, 2011

1 Previous Year figure have been reworked, regrouped, rearranged and reclassified, wherever considered necessary. Figures have been rounded off to nearest rupee

2. The company has been advised that no provision for taxation is necessary for the current financial year in view of losses incurred.

3. Board is ol the opinion that current assets, loans and advances have value at least equal to the amount stated, on realisation in the ordinary course of business

4. As required by Accounting standard - 22 (AS 22) on 'Accounting for Taxes on Income' issued by Institute of Chartered Accountants of India deferred tax assets/llabilities have not been recognised since in the opinion of the management there is no reasonable certainty- That sufficient future income will be available against which these can be realised.'

iii accordance With AN 18. Related Party Disclosure" issued by the Institute of chartered Accountants of India, the company has complied and certified the required information as stated below: -

Following persons having significant influence over the activities in the company:

i.) Mr. V. D. Jain

ii ) Smt. Amna Join

iii.) Mr. Ashok Jam

iv. ) Shri Asliok Jain (HUF)

v. ) Smt. Bela Mittal

vi. ) Mr. J.P. Jain

vii. ) Nidhi Trust

viii. ) M/S Ken Hlecirics Ltd.

Some transactions from related parties are loan & advances as under,

l .J Ken Electicul Ltd. : Rs. 14,14,363/-

2. ) Vindato Investment Ltd. ; Rs. 12,980/-

3. ) Bela Mittal : Rs. 1.90.120/-

4) Telec Ltd. ; Rs. 85.478/-

5.) ABC Electrical Ltd. : Rs. 1,07.572/-

 
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