Mar 31, 2018
SIGNIFICANT ACCOUNTING POLICIES:
I BASIS OF ACCOUNTING:
The financial statements are prepared under historical cost convention, on accrual basis, in accordance with the provisions of Companies Act, 2013 and the accounting principles generally accepted in India and comply with the Accounting Standards notified by the Companies (Accounting Standards) Rules, 2006.
II REVENUE RECOGNITION
Revenue is recognised upon invoicing shares sold and services rendered.
III. INVESTMENTS:
Investments being Long Term Investments are stated at cost. Fluctuation in Value of investments is accounted on Realisation.
IV. TAXES ON INCOME
Income Tax expenses comprises of current tax and deferred tax (charge or credit). Provision for Income Tax of Rs. 33,50,000 has been made on the basis of taxable income for the current accounting year in accordance with the provisions of the Income Tax Act, 1961. There is no deferred tax liability up to the year ended 31st March, 2018.
V. REPORTABLE SEGMENT There are no reportable segments.
VI. RELATED PARTY DISCLOSURES
VII. CONTINGENT LIBILITIES
No contingent liabilities are provided for the year ended 31/03/2018.
VIII. Disclosure of details as required by Revised Para 13 of Non-Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 2009, earlier Paragraph 9BB of Non-Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 1998.
IX. Figures of previous year have been regrouped/ rearranged whenever necessary.
Mar 31, 2014
I. BASIS OF PREPARATION OF FINANCIAL STATEMENTS:
During the year ended 31st March 2014, the revised Schedule VI notified
under the Companies Act 1956, has become applicable to the company, for
preparation and presentation of its financial statements. However, it
has significant impact on presentation and disclosures made in the
financial statements. The company has also re- classified the previous
year figures in accordance with the figures of the current year.
II BASIS OF ACCOUNTING:
The financial statements are prepared under historical cost convention,
on accrual basis, in accordance with the provisions of Companies Act,
1956 and the accounting principles generally accepted in India and
comply with the Accounting Standards notified by the Companies
(Accounting Standards) Rules, 2006.
III REVENUE RECOGNITION
Revenue is recognised upon invoicing shares sold and services rendered.
IV. FIXED ASSETS
Fixed Assets are stated at cost of acquisition less accumulated
depreciation.
V DEPRECIATION
The company has provided depreciation on Fixed Assets on written down
value basis at the revised rates prescribed under the Income Tax Act,
1961.
VI INVESTMENTS:
Investments being Long Term Investments are stated at cost. Fluctuation
in Value of investments is accounted on Realisation.
IX. TAXES ON INCOME
Income Tax expenses comprises of current tax and deferred tax (charge
or credit). No Provision for Income Tax is made on the basis of taxable
income for the current accounting year in accordance with the
provisions of the Income Tax Act, 19 61. There is no deferred tax
liability up to the year ended 31st March, 2014.
Mar 31, 2013
I. BASIS OF PREPARATION OF FINANCIAL STATEMENTS:
During the year ended 31st March 2013, the revised Schedule VI notified
under the Companies Act 1956, has become applicable to the company, for
preparation and presentation of its financial statements. However, it
has significant impact on presentation and disclosures made in the
financial statements. The company has also re-classified the previous
year figures in accordance with the figures of the current year.
II. BASIS OF ACCOUNTING:
The financial statements are prepared under historical cost convention,
on accrual basis, in accordance with the provisions of Companies Act,
1956 and the accounting principles generally accepted in India and
comply with the Accounting Standards notified by the Companies
(Accounting Standards) Rules, 2006.
III. REVENUE RECOGNITION
Revenue is recognised upon invoicing shares sold and services rendered.
IV. FIXED ASSETS
Fixed Assets are stated at cost of acquisition less accumulated
depreciation.
V. DEPRECIATION
The company has provided depreciation on Fixed Assets on written down
value basis at the revised rates prescribed under the Income Tax Act,
1961.
VI. INVESTMENTS:
Investments being Long Term Investments are stated at cost. Fluctuation
in Value of investments is accounted on Realisation.
VII. TAXES ON INCOME
Income Tax expenses comprises of current tax and deferred tax (charge
or credit). No Provision for Income Tax is made on the basis of taxable
income for the current accounting year in accordance with the
provisions of the Income Tax Act, 1961. There is no deferred tax
liability up to the year ended 31st March, 2013.
VIII. REPORTABLE SEGMENT There are no reportable segments.
IX. CONTINGENT LIBILITIES
No contingent liabilities are provided for the year ended 31/03/2013.
X. Disclosure of details as required by Revised Para 13 of
Non-Banking Financial Companies Prudential Norms (Reserve Bank)
Directions, 2009, earlier Paragraph 9BB of Non-Banking Financial
Companies Prudential Norms (Reserve Bank) Directions, 1998.
Mar 31, 2012
I. BASIS OF PREPARATION OF FINANCIAL STATEMENTS:
During the year ended 31* March 2012, the revised Schedule VI notified
under the Companies Act 1956, has become applicable to the company, for
preparation and presentation of 'rts financial statements.
However, rt has significant impact on. presentation and disclosures
made in the financial statements. The company has also re-classified
the previous year figures in accordance with the figures of the current
year.
II. BASIS OF ACCOUNTING:
The financial statements are prepared under historical cost convention,
on accrual basis, in accordance with the provisions of Companies Act,
1956 and the accounting principles generally accepted in India and
comply with the Accounting Standards notified by the Companies
(Accounting Standards) Rules, 2006. -
III. REVENUE RECOGNITION
Revenue is recognised upon invoicing shares sold and services rendered.
IV. FIXED ASSETS
Fixed Assets are stated at cost of acquisition less accumulated
depredation.
V. DEPRECIATION
The company has provided depredation on Fixed Assets on written down
value basis at the revised rates prescribed under the Income Tax Act
1961.
VI. INVESTMENTS:
Investments being Long Term investments are slated at cost Fluctuation
in Value of investments is accounted on realisation.
VII. TAXES ON INCOME
Income Tax expenses comprises of current tax and deferred tax (charge
or credit). Provision for Income Tax is made on the basis of taxable
income for the current accounting year in accordance with the
provisions of the Income Tax Ad, 1961. There is no deferred tax
liability up to the year ended 31st March, 2012.
VIII. REPORTABLE SEGMENT There are no reportabte segments.
IX. CONTINGENT UBIUTJES
No contingent Nabifities are provided for the year ended 31/03/2012.
X. Disclosure of details as required by Revised Para 13 of Non-Ban
king Financial Companies Prudential Norms (Reserve Bank) Directions,
2009, earlier Paragraph 9BB of Non-Banking Financial Companies
Prudential Norms (Reserve Bank) Directions, 1998.
Mar 31, 2010
A) BASIS OF ACCOUNTING
The financial statements are prepared under historical cost convention
on an accrual basis and are in accordance with the requirements of the
Companies Act, 1956.
b) FIXED ASSETS
Fixed Assets are staled at cost of acquisition less accumulated
depreciation.
c) DEPRECIATION
The company has provided depreciation on Fixed Assets on written down
value basis at the revised rates prescribed under the Income Tax Act,
1961.
d) Accounting policies not specifically referred to otherwise are in
accordance with generally accepted accounting principles consistently
followed by the Company.
e) INCOME RECOGNITION
Income is recognised upon invoicing shares sold and services rendered.