Mar 31, 2016
NOTES TO THE ACCOUNTS:
(1) Segment Reporting:
The company is operating in Education & Training industry. Accordingly, these financial statements are reflective of the information required by the AS-17 for Education & Training segment.
(2) Related Party Disclosures:
In compliance of AS-18 issued by the ICAI on "Related Party Disclosures" issued by the ICAI, the details pertaining to related party disclosures are as follows:
Remuneration to Director and Key Management Personnel Rs. 6409106/-
(3) Deferred Tax Liability/Assets:
(I) Provision for Deferred Tax Assets as per AS-22, issued by the Institute. Income Tax is computed in accordance with AS-22. Accounting for taxes on income issued by ICAI. Tax expenses are accrued in the same period as the revenue and expenses to which they relate.
ii. Provision for current income tax is made on the tax liability payable on taxable income after considering tax allowances, deductions and exemptions determined in accordance with the prevailing tax laws. The difference between taxable income and the net profit or loss before tax for the period as per the financial statements are identified and the tax effect of the deferred tax asset or deferred tax liability is recorded for timing differences, i.e. difference that originate in one accounting period and reverse in another. The tax effect is calculated on accumulated timing differences at the end of the accounting period based on the effective tax rates that would apply in the years in which the timing differences are expected to reverse.
(4) In the opinion of Board of Directors, the balances of Sundry Debtors and Loans & Advances are considered good and fully recoverable, although on certain loans interest has not been charged.
(5) The cost of the Computer Software, web browser and portals have been recognized as an asset on the following assumptions:
i. the future economic benefits from these assets will flow to the company; and
ii. the cost of the asset is measured reliably.
Depreciation on computer software, web browsers and portals have not been charged during the year as the same have not been used during the year for any income earning activities.
(6) Contingent Liability
Income tax demand of Rs. 60,50,564/- and penalty of Rs. 60,50,150/- for the A.Y. 1996-97 & Rs. 3,04,364/for the A.Y. 2004-2005 against which the company has filed an Appeal with ITAT, New Delhi, the Company is doing efforts for the early disposal of the case.
(I) Previous year figures have been regrouped and rearranged, wherever found necessary, to confirm to the Current year''s classification.
Mar 31, 2015
(a) Segment Reporting:
The company is operating in Education & Training industry. Accordingly,
these financial statements are reflective of the information required
by the AS-17 for Education & Training segment.
(b) Related Party Disclosures:
In compliance of AS-18 issued by the ICAI on "Related Party
Disclosures" issued by the ICAI, the details pertaining to related
party disclosures are as follows:
(c) Deferred Tax Liability/Assets:
I. Provision for Deferred Tax Assets as per AS-22, issued by the
Institute. Income Tax is computed in accordance with AS-22. Accounting
for taxes on income issued by ICAI. Tax expenses are accrued in the
same period as the revenue and expenses to which they relate.
ii. Provision for current income tax is made on the tax liability
payable on taxable income after considering tax allowances, deductions
and exemptions determined in accordance with the prevailing tax laws.
The difference between taxable income and the net profit or loss before
tax for the period as per the financial statements are identified and
the tax effect of the deferred tax asset or deferred tax liability is
recorded for timing differences, i.e. difference that originate in one
accounting period and reverse in another. The tax effect is calculated
on accumulated timing differences at the end of the accounting period
based on the effective tax rates that would apply in the years in which
the timing differences are expected to reverse.
(d) In the opinion of Board of Directors, the balances of Sundry
Debtors and Loans & Advances are considered good and fully recoverable,
although on certain loans interest has not been charged.
The Board of Directors has confirmed that no allotment has been made of
share application money shown in loans and advances as on the date of
balance sheet.
(e) The cost of the Computer Software, web browser and portals have
been recognized as an asset on the following assumptions:
i. The future economic benefits from these assets will flow to the
company; and
ii. The cost of the asset is measured reliably.
Depreciation on computer software, web browsers and portals have not
been charged during the year as the same have not been used during the
year for any income earning activities.
(f) Contingent Liability
Income tax demand of Rs. 60,50,564/- and penalty of Rs. 60,50,150/- for
the A.Y. 1996-97 & Rs. 3,04,364/- for the A.Y. 2004-2005 against which
the company has filed an Appeal with ITAT, New Delhi, the Company is
doing efforts for the early disposal of the case.
( g) Previous year figures have been regrouped and rearranged, wherever
found necessary, to confirm to the Current year's classification.
Mar 31, 2014
(a) Segment Reporting:
The company is operating in Education & Training industry. Accordingly,
these financial statements are reflective of the information required
by the AS-17 for Education & Training segment.
(b) Related Party Disclosures:
In compliance of AS-18 issued by the ICAI on "Related Party
Disclosures" issued by the ICAI, the details pertaining to related
party disclosures are as follows:
Remuneration to key Management Personnel Rs. 8,27,903/-
Sr. No. Name Amount paid (in Rs.)
1. Mr. Neeraj Kaushik 2,29,570/-
2. Mr. Prakash Chand Goyal 5,98,333/-
Note: Related party relationship is as identified by the Company and
relied upon by the Auditors.
(c) Deferred Tax Liability/Assets:
i. Provision for Deferred Tax Assets as per AS-22, issued by the
Institute. Income Tax is computed in accordance with AS-22. Accounting
for taxes on income issued by ICAI. Tax expenses are accrued in the
same period as the revenue and expenses to which they relate.
ii. Provision for current income tax is made on the tax liability
payable on taxable income after considering tax allowances, deductions
and exemptions determined in accordance with the prevailing tax laws.
The difference between taxable income and the net profit or loss before
tax for the period as per the financial statements are identified and
the tax effect of the deferred tax asset or deferred tax liability is
recorded for timing differences, i.e. difference that originate in one
accounting period and reverse in another. The tax effect is calculated
on accumulated timing differences at the end of the accounting period
based on the effective tax rates that would apply in the years in which
the timing differences are expected to reverse.
(d) In the opinion of Board of Directors, the balances of Sundry
Debtors and Loans & Advances are considered good and fully recoverable,
although on certain loans interest has not been charged.
The Board of Directors has confirmed that no allotment has been made of
share application money shown in loans and advances as on the date of
balance sheet.
(e) The cost of the Computer Software, web browser and portals have
been recognized as an asset on the following assumptions:
i. the future economic benefits from these assets will flow to the
company; and
ii. the cost of the asset is measured reliably.
Depreciation on computer software, web browsers and portals have not
been charged during the year as the same have not been used during the
year for any income earning activities.
(f) Contingent Liability
Income tax demand of Rs. 60,50,564/- and penalty of Rs. 60,50,150/- for
the A.Y. 1996-97 & Rs. 3,04,364/- for the A.Y. 2004-2005 against which
the company has filed an Appeal with ITAT, New Delhi, the Company is
doing efforts for the early disposal of the case.
(g) Previous year figures have been regrouped and rearranged, wherever
found necessary, to confirm to the Current year''s classification.
Mar 31, 2013
(a) Segment Reporting:
The company is operating in Education & Training industry. Accordingly,
these financial statements are reflective of the information required
by the AS-17 for Education & Training segment.
(b) Related Party Disclosures:
In compliance of AS-18 issued by the ICAI on "Related Party
Disclosures" issued by the ICAI, the details pertaining to related
party disclosures are as follows:
(c) Deferred Tax Liability/Assets:
(i) Provision for Deferred Tax Assets as per AS-22, issued by the
Institute. Income Tax is computed in accordance with AS-22. Accounting
for taxes on income issued by ICAI. Tax expenses are accrued in the
same period as the revenue and expenses to which they relate.
(ii) Provision for current income tax is made on the tax liability
payable on taxable income after considering tax allowances, deductions
and exemptions determined in accordance with the prevailing tax laws.
The difference between taxable income and the net profit or loss before
tax for the period as per the financial statements are identified and
the tax effect of the deferred tax asset or deferred tax liability is
recorded for timing differences, i.e. difference that originate in one
accounting period and reverse in another. The tax effect is calculated
on accumulated timing differences at the end of the accounting period
based on the effective tax rates that would apply in the years in which
the timing differences are expected to reverse.
(d) In the opinion of Board of Directors, the balances of Sundry
Debtors and Loans & Advances are considered good and fully recoverable,
although on certain loans interest has not been charged.
Market value of quoted investments is assumed same as in last year
since the concern shares are not traded since last year.
The Board of Directors has confirmed that no allotment has been made of
share application money shown in loans and advances as on the date of
balance sheet.
(e) The cost of the Computer Software, web browser and portals have
been recognized as an asset on the following assumptions:
(i) the future economic benefits from these assets will flow to the
company; and
(ii) the cost of the asset is measured reliably.
Depreciation on computer software, web browsers and portals have not
been charged during the year as the same have not been used during the
year for any income earning activities.
(f) Contingent Liability
Income tax demand of Rs. 6050564/- and penalty of Rs. 6050150/- for the
A.Y. 1996-97 & Rs. 304364/- for the A.Y. 2004-2005 against which the
company has filed an Appeal with ITAT, New Delhi, the Company is doing
efforts for the early disposal of the case.
(g) Previous year figures have been regrouped and rearranged, wherever
found necessary, to confirm to the Current year''s classification.
Mar 31, 2012
NOTE 1A
Disclosure pursuant to Note no. 6(T) of Part I of Schedule VI to the
Companies Act. 1956
As At
31.03.2012 As At
31.03.2011
Contingent liabilities and commitments (to
the extent not provided for) Amount Amount
(i) Contingent Liabilities
(a) Claims against the company not
acknowledged as debt
(b) Guarantees
(c) Other money for which the company is
contingently liable - -
(ii) Commitments
(a) Estimated amount of contracts
remaining to be executed on capital
account and not provided for
(b) Uncalled liability on shares and
other investments partly paid
(c) Other commitments (specify nature) - -
- -
(a)Segment Reporting:
The company is operating in Education & Training industry. Accordingly,
these financial statements are reflective of the information required
by the AS-17 for Education & Training segment.
(b) Related Party Disclosures:
In compliance of AS-18 issued by the ICAI on "Related Party
Disclosures" issued by the ICAI, the details pertaining to related
party disclosures are as follows:
- Key Management Personnel:
Mr. Neeraj Kaushik Managing Director
- Detail of Transactions with Related Parties:
Remuneration to key Management Personnel Rs. 2,40,000/-
Note: Related party relationship is as identified by the company and
relied upon by the auditors.
(c) Deferred Tax Liabilitv/Assets:
(i) Provision for Deferred Tax Assets as per AS-22, issued by the
Institute. Income Tax is computed in accordance with AS-22. Accounting
for taxes on income issued by ICAI. Tax expenses are accrued in the
same period as the revenue and expenses to which they relate.
(ii) Provision for current income tax is made on the tax liability
payable on taxable income after considering tax allowances, deductions
and exemptions determined in accordance with the prevailing tax laws.
The difference between taxable income and the net profit or loss before
tax for the period as per the financial statements are identified and
the tax effect of the deferred tax asset or deferred tax liability is
recorded for timing differences, i.e. difference that originate in one
accounting period and reverse in another. The tax effect is calculated
on accumulated timing differences at the end of the accounting period
based on the effective tax rates that would apply in the years in which
the timing differences are expected to reverse.
In the opinion of Board of Directors, the balances of Sundry Debtors
and Loans & Advances are considered good and fully recoverable,
although on certain loans interest has not been charged.
Market value of quoted investments is assumed same as in last year
since the concern shares are not traded since last year.
The Board of Directors has confirmed that no allotment has been made of
share application money shown in loans and advances as on the date of
balance sheet.
(d) The cost of the Computer Software, web browser and portals have
been recognized as an asset on the following assumptions:
(i) the future economic benefits from these assets will flow to the
company; and
(ii) the cost of the asset is measured reliably.
Depreciation on computer software, web browsers and portals have not
been charged during the year as the same have not been u$ed during the
year for any income earning activities.
(e) Contingent Liability
Income tax demand of Rs. 6050564/- and penalty of Rs. 6050150/- for the
A.Y. 1996-97 & Rs. 304364/- for the A.Y. 2004-2005 against which the
company has filed an Appeal with CIT (Appeal), XIX, New Delhi, the
company is doing efforts for the early disposal of the case.
(f) Previous year figures have been regrouped and rearranged, wherever
found necessary, to conform to the Current year's classification.
Mar 31, 2011
(a) Segment Reporting:
The company is operating in Education & Training industry. Accordingly,
these financial statements are reflective of the information required
by the AS-17 for Education & Training segment.
(b) Related Party Disclosures:
In compliance of AS-18 issued by the ICAI on "Related Party
Disclosures" issued by the ICAI, the details pertaining to related
party disclosures are as follows:
(c) Deferred Tax Liability/Assets:
(i) Provision for Deferred Tax Assets as per AS-22, issued by the
Institute. Income Tax is computed in accordance with AS-22. Accounting
for taxes on income issued by ICAI. Tax expenses are accrued in the
same period as the revenue and expenses to which they relate.
(ii) Provision for current income tax is made on the tax liability
payable on taxable income after considering tax allowances, deductions
and exemptions determined in accordance with the prevailing tax laws.
The difference between taxable income and the net profit or loss before
tax for the period as per the financial statements are identified and
the tax effect of the deferred tax asset or deferred tax liability is
recorded for timing differences, i.e. difference that originate in one
accounting period and reverse in another. The tax effect is calculated
on accumulated timing differences at the end of the accounting period
based on the effective tax rates that would apply in the years in which
the timing differences are expected to reverse.
(d)In the opinion of Board of Directors, the balances of Sundry Debtors
and Loans & Advances are considered good and fully recoverable,
although on certain loans interest has not been charged.
Market value of quoted investments is assumed same as in last year
since the concern shares are not traded since last year.
The Board of Directors has confirmed that no allotment has been made of
share application money shown in loans and advances as on the date of
balance sheet.
(e) The cost of the Computer Software, web browser and portals have
been recognized as an asset on the following assumptions:
(i) the future economic benefits from these assets will flow to the
company; and
(ii) the cost of the asset is measured reliably.
Depreciation on computer software, web browsers and portals have not
been charged during the year as the same have not been used during the
year for any income earning activities.
(f) Contingent Liability
Income tax demand of Rs. 6,050,564/- and penalty of Rs. 6,050,150/- for
the A.Y. 1996-97 against which the company has filed an Appeal with CIT
(Appeal), XIX, New Delhi.
(g) Previous year figures have been regrouped and rearranged, wherever
found necessary, to conform to the Current year's classification.
(h) Schedule 1 to 11 Forms an integral part of the balance sheet and
profit and loss account.
Mar 31, 2010
(a) Segment Reporting:
The company is operating in Education & Training industry. Accordingly,
these financial statements are reflective of the information required
by the AS-17 for Education & Training segment.
(b) Related Party Disclosures:
In compliance of AS-18 issued by the ICAI on "Related Party
Disclosures" issued by the ICAI, the details pertaining to related
party disclosures are as follows:
(c) Deferred Tax Liability/Assets:
(i) Provision for Deferred Tax Assets as per AS-22, issued by the
Institute. Income Tax is computed in accordance with AS-22. Accounting
for taxes on income' issued by ICAI. Tax expenses are accrued in the
same period as the revenue and expenses to which they relate.
(ii) Provision for current income tax is made on the tax liability
payable on taxable income after considering tax aUowances, deductions
and exemptions determined in accordance with the prevailing tax laws.
The difference between taxable income and the net profit or loss before
tax for the period as per the financial statements are identified and
the tax effect ot the deferred tax asset or deferred tax liability is
recorded for timing differences, i.e. difference that originate in one
accounting period and reverse in another. The tax effect is calculated
on accumulated timing differences at the end of the accounting period
based on the effective tax rates that would apply in the years in which
the timing differences are expected to reverse.
(d) In the opinion of Board of Directors, the balances of Sundry
Debtors and Loans & Advances are considered good and fully recoverable,
although on certain loans interest has not been charged.
Market value of quoted investments is assumed same as in last year
since the concern shares are not traded since last year.
The Board of Directors has confirmed that no allotment has been made of
share application money shown in loans and advances as on the date of
balance sheet.
(e) The cost of the Computer Software, web browser and portals have
been recognized as an asset on the following assumptions:
(i) the future economic benefits from these assets will flow to the
company; and (ii) the cost of the asset is measured reliably.
Depreciation on computer software, web browsers and portals have not
been charged during the year as the same have not been used during the
year for any income earning activities.
(f) Contingent Liability
Income tax demand of Rs. 6,050,564/- and penalty of Rs. 6,050,150/- for
the A.Y. 1996-97 against which the company has filed an Appeal with CIT
(Appeal), XIX, New Delhi.
(g) Previous year figures have been regrouped and rearranged, wherever
found necessary, to conform to the Current year's classification.
(h) Schedule 1 to 11 Forms an integral part of the balance sheet and
profit and loss account.
Mar 31, 2009
(a) Segment Reporting:
The company is operating in software industry. Accordingly, these
financial statements are reflective of information required by AS-17
for software segment.
(b) Related Party Disclosures:
In compliance of AS-8 issued by the ICAI on "Related Party
Disclosures" the details pertaining to related party disclosures are
as follows:
- Key Management Personnel:
Mr. Neeraj Kaushik Managing Director
- Detail of Transactions with Related Parties:
Remuneration to key Management Personnel 105000/-
Note: Related party relationship is as identified by the company and
relied upon by the auditors.
(c) Deferred Tax Liability/Assets:
(i) Provision for Deferred Tax Assets as per AS-22, issued by the
Institute. Income tax is computed in accordance with AS-22. Accounting
for taxes on income' issued by ICAI. Tax expenses are accrued in the
same period as the revenue and expenses to which they relate.
(ii) Provision for current income tax is made on the tax liability
payable on taxable income after considering tax allowances, deductions
and exemptions determined in accordance with the prevailing tax laws.
The difference between taxable income and the net profit or loss before
tax for the period as per the financial statements are identified and
the tax effect of the deferred tax asset or deferred tax liability is
recorded for timing differences, i.e. difference that originate in one
accounting period and reverse in another. The tax effect is calculated
on accumulated timing differences at the end of the accounting period
based on the effective tax rates that would apply in the years in which
the timing differences are expected to reverse.
(d) In the opinion of Board of Directors, the balances of Sundry
Debtors and Loans & Advances are considered good and fully recoverable,
although on certain loans interest has not been charged.
Market value of quoted investments are assumed same as in last year
since the shares are not traded last year.
The Board of Directors has confirmed that no allotment has been made of
share application money shown in loans and advances as on the date of
balance sheet.
(e) The cost of the computer Softwares, web browser and portals have
been recognised as an asset on the following assumptions:
(i) the future economic benefits from these assets will flow to the
company; and
(ii) the cost of the asset is measured as actually incurred.
Depreciation on computer softwares, web browsers and portals has not
been charged during the year as the same have not been used during the
year.
(f) There is no contingent liability at the year end.
(g) Previous year figures have been regrouped and rearranged, wherever
found necessary, to conform to the Current year's classification.
(h) Schedule 1 to 11 Forms an integral part of the balance sheet and
profit and loss account.
Mar 31, 2007
(a) Segment Reporting:
i The company is operating in software industry. Accordingly, these
financial statements are reflective of the information required by the
AS-17 for software segment'
(b) Related Party Disclosures:
In compliance of AS-8 issued by the ICAI on "Related Party Disclosures"
issued by the ICAI, the details pertaining to related party
disclosures are as follows:
- Key Management Personnel:
Mr. Neeraj Kaushik Managing Director
- Detail of Transactions with Related Parties:
Remuneration to key Management Personnel NIL
Note: Related party relationship is as identified by the company and
relied upon By the auditors.
(c) Deferred Tax Liability/Assets:
(i) Provision for Deferred Tax Assets as per AS-22, issued by the
Institute. Income tax is computed in accordance with AS-22. Accounting
for taxes on income' issued by ICAI. Tax expenses are accrued in the
same period as the revenue and expenses to which xhey relate.
(ii) Provision for current income tax is made on the tax liability
payable on taxable û income after considering tax allowances,
deductions and exemptions determined in accordance with the prevailing
tax laws. The difference between taxable income and the net profit or
loss before tax for the period as per the financial statements are
identified and the tax effect of the deferred tax asset or deferred tax
liability is recorded for timing differences, i.e. difference that
originate in one accounting period and reverse in another. The tax
effect is calculated on accumulated timing differences at the end of
the accounting period based on the effective tax rates, that x Ã.
would apply in the years in which the timing differences are expected
to reverse.
(d) In the opinion of Board of Directors, the balances of Sundry
Debtors and Loans & Advances are considered good and fully recoverable,
although on certain loans interest has not been charged.
Market value of quoted investments are assumed same as in last year
since the concern shares are not traded since last year,
The Board of Directors has confirmed that no allotment has been made of
share application money shown in loans and advances as on the date of
balance sheet.
(e) The cost of the computer Softwares, web browser and portals have
been recognised as an asset on the following assumptions:
(i) the future economic benefits from these assets will flow to the
company; and
(ii) the cost of the asset is measured reliably.
* Depreciation on computer softwares, web browsers and portals have not
been charged durjng the year as the same have not been used during the
year for any income earning activities.
(f) There is no contingent liability at the year end.
(g) Previous year figures have been regrouped and rearranged, wherever
found necessary, to conform to the Current year's classification.
(h) Schedule 1 to 11 Forms an integjaLpart of the balance sheet and
profit and loss account.