Notes to Accounts of Twinstar Industries Ltd.

Mar 31, 2015

1. Deferred Tax Assets ( net )

In accordance with the Accounting Standard 22 on " Accounting for Taxes on Income " issued by The Institute of Chartered

Accountants of India, Deferred assets and liabilities should be recognized for all timing differences in accordance with the

said standard.

The tax effect of significant timing differences during the year that have resulted in deferred tax assets and liabilities are given below:

Company Overview :

Twinstar Industries Ltd. (Formerly known as Twinstar Software Exports Ltd.) is a public limited company engaged in business of trading in various products.

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Mar 31, 2014

Company Overview:

Twinstar Industries Ltd. (Formerly known as Twinstar Exports Ltd.) along with fully owned and controlled subsidiary Twinstar Software Inc. is a Public Limited Company engaged in various sectors like I.T business and services, dealing and trading in cotton, steel, yarn, chemicals and electronic items according to the market scenario of the various products

1. Deferred Tax Assets ( net )

In accordance with the Accounting Standard 22 on " Accounting for Taxes on Income " issued by The Institute of Chartered Accountants of India, Deferred assets and liabilities should be recognized for all timing differences in accordance with the said standard.

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Mar 31, 2013

Company Overview:

Twinstar Industries Ltd. (Formerly known as Twinstar Exports Ltd.) along with fully owned and controlled subsidiary Twinstar Software Inc. is a public limited company engaged in business of trading in Steel, Cotton and Cotton coated Fabrics.

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Mar 31, 2012

Company Overview:

Twinstar Industries Ltd. (Formerly known as Twinstar Exports Ltd.) along with fully owned and controlled subsidiary Twinstar Software Inc. is a public limited company engaged in business of trading in Steel, Cotton and Cotton coated Fabrics.

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Mar 31, 2010

1. a) In the opinion of the Board of Directors, the Investments, Current Assets, Loans and Advances have a value on realization in the ordinary course of business, at least equal to the amount at which they are stated in the Balance Sheet.

b) Balance of Sundry Debtors, Sundry Creditors and Loans & Advances including capital advances are subject to confirmation, reconciliation and adjustments if any.

2. The Company being a software development unit and providing services on specific orders from clients, thus raw material and finished goods, etc. are not quantifiable. There are no openings or closing stock of goods.

3. There is no quantitative information which is required to be given under paragraphs 3 & 4 of Part II of Schedule VI of the Companies Act, 1956.

4. Disclosure of Segment Reporting under Accounting Standard 17 : The Company has No Segments.

5. Calculation of Earning Per Share (Face Value Rs, 10/- per Share) Fig in Lacs

6. In accordance with the Accounting standards 22 on "Accounting for Taxes on Income", (AS22) issued by the Institute of Chartered Accountant of India, deferred tax assets and liabilities should be recognized for all timing differences in accordance with the said standard. However, considering the present financial position and the requirement of the accounting standard regarding certainty/virtual certainty, the same is not provided for as an asset (net). However, the same will be reassessed at subsequent balance sheet dates and will be accounted for in the year of certainty/virtual certainty in accordance with the aforesaid accounting standard.

7. According to the information and the explanation given to us, there are no related partys transactions.

8. There is no outstanding payable to any Small Scale Industries by the Company as on 31st March, 2010.

9. Previous years figure have been regrouped and/or rearranged wherever necessary.

10. Balance Sheet Abstract and Companys General Business Profile required as per Schedule VI to the Companies Act, 1956 is annexed 1herewith.