Notes to Accounts of Amsons Apparels Ltd.

Mar 31, 2015

1. The previous year's figures have been reworked, regrouped, rearranged and reclassified wherever necessary.

2. All the investments, if any made by the company are valued at Cost.

3. Managerial Remuneration: Rs. 2,40,000

4. The inventories of the company are valued as per cost price and market price which ever is less.

5. Deferred tax arising on account of timing difference and which are capable of reversal in one or more subsequent periods is recognized using the tax rates and tax laws that have been enacted or substantively enacted. Deferred tax assets are recognized unless there is virtual certainty with respect to the reversal of the same in future years.

6. All schedules annexed to and form integral part of the Balance Sheet and Profit & Loss Account.

7. Minimum Alternative Tax (MAT) is recognised as an asset only when and to the extent there is convicing evidence that the company will pay normal income tax during the specefied period. The Company reviews the same at each balance sheet date and writes down the carrying amount of MAT Credit Entilement to the extent there is no longer convincing evidence to the effect that company will pay normal Income Tax during the specified period.

8. Value of Import on CIF Basis Nil

9. Earnings in Foreign Exchange (FOB Value) Nil

10. Expenditure in Foreign Currency Nil