Mar 31, 2015
1. Basis of Accounting
The financial statements have been prepared under the historical cost
convention and on accrual basis in compliance with all material aspect
of the applicable Accounting Standards in India and the relevant
provisions of the Companies Act, 1956, except otherwise mentioned, the
accounting policies have been consistently applied by the Company and
are consistent with those used in the previous year.
2. Revenue Recognition
a. Revenue from Broking income is recognised on completed contract
method.
b. Dividend income is accounted on receipt basis.
c. Option premium Income is booked after the same is actually
realised.
3. Expenditure
Expenses are accounted on accrual basis and provisions are made for
all known losses and liabilities.
4. Fixed Assets
Fixed Assets are stated at cost less depreciation / impairment losses,
if any. Cost includes cost of purchase and other cost attributable to
bringing the assets to working condition for intended use.
5. Depreciation
Depreciation is provided on pro rata basis using written down value
method at the rate specified under Schedule XIV to the Companies Act
1956. Depreciation on assets added/ disposed during the year is
provided with reference to the date of addition/ disposal.
6. AS-28 Impairment of Assets
The carrying amounts of assets are reviewed at each Balance Sheet date
for any indication of impairment based on internal/external factors.
An asset is treated as impaired when the carrying cost of the assets
exceeds its recoverable value.
7. Foreign Currency Translation
Transactions in foreign currency (if any) are recorded at the rate of
exchange prevailing on the date of transaction. Foreign currency
monetary items are reported using closing rate of exchange at the end
of the year. The resulting exchange gain/loss is reflected in the
profit and loss account. Other items, like fixed assets, investments
in equity shares are carried in terms of historical cost using the
exchange rate at the date of transaction.
8. Investments
Investments are classified into long term investments and current
investments. Investments which are intended to be held for more than
one year are classified as long term investments and investments which
are intended to be held for less than one year are classified as
current investments. Long term investments are accounted at cost and
any decline in the carrying value other than temporary in nature is
provided for.
9. Taxation
Tax expense comprises of current and deferred tax.
Provision for current tax is made on the basis of estimated taxable
income for the current accounting year in accordance with the Income
Tax Act, 1961
The deferred tax for timing differences between the book and tax
profits for the year is accounted for, using the tax rates and laws
that have been substantively enacted as of the balance sheet date.
Deferred tax assets arising from timing differences are recognized to
the extent there is reasonable certainty that these would be realized
in future
Deferred tax assets in case of unabsorbed losses and unabsorbed
depreciation are recognized only if there is virtual certainty that
such deferred tax asset can be realized against future taxable profits
10. Contingent Liabilities & Provisions
Contingent Liabilities are possible but not probable obligations as on
the Balance Sheet date, based on the available evidence.
Provisions are recognized when there is a present obligation as a
result of past event and it is probable that an outflow of resources
will be required to settle the obligation, in respect of which a
reliable estimate can be made.
Provisions are determined based on best estimate required to settle
the obligation at the Balance Sheet date.
Mar 31, 2014
1. Basis of Accounting
The financial statements have been prepared under the historical cost
convention and on accrual basis in compliance with all material aspect
of the applicable Accounting Standards in India and the relevant
provisions of the Companies Act, 1956, except otherwise mentioned, the
accounting policies have been consistently applied by the Company and
are consistent with those used in the previous year.
2. Revenue Recognition
a. Revenue from Broking income is recognised on completed contract
method.
b. Dividend income is accounted on receipt basis.
c. Option premium Income is booked after the same is actually
realised.
3. Expenditure
Expenses are accounted on accrual basis and provisions are made for all
known losses and liabilities.
4. Fixed Assets
Fixed Assets are stated at cost less depreciation / impairment losses,
if any. Cost includes cost of purchase and other cost attributable to
bringing the assets to working condition for intended use.
5. Depreciation
Depreciation is provided on pro rata basis using written down value
method at the rate specified under Schedule XIV to the Companies Act
1956. Depreciation on assets added/ disposed during the year is
provided with reference to the date of addition/ disposal.
6. AS-28 Impairment of Assets
The carrying amounts of assets are reviewed at each Balance Sheet date
for any indication of impairment based on internal/external factors. An
asset is treated as impaired when the carrying cost of the assets
exceeds its recoverable value.
7. Foreign Currency Translation
Transactions in foreign currency (if any) are recorded at the rate of
exchange prevailing on the date of transaction. Foreign currency
monetary items are reported using closing rate of exchange at the end
of the year. The resulting exchange gain/loss is reflected in the
profit and loss account. Other items, like fixed assets, investments in
equity shares are carried in terms of historical cost using the
exchange rate at the date of transaction.
8. Investments
Investments are classified into long term investments and current
investments. Investments which are intended to be held for more than
one year are classified as long term investments and investments which
are intended to be held for less than one year are classified as
current investments. Long term investments are accounted at cost and
any decline in the carrying value other than temporary in nature is
provided for.
9. Taxation
Tax expense comprises of current and deferred tax
Provision for current tax is made on the basis of estimated taxable
income for the current accounting year in accordance with the Income
Tax Act, 1961
The deferred tax for timing differences between the book and tax
profits for the year is accounted for, using the tax rates and laws
that have been substantively enacted as of the balance sheet date.
Deferred tax assets arising from timing differences are recognized to
the extent there is reasonable certainty that these would be realized
in future Deferred tax assets in case of unabsorbed losses and
unabsorbed depreciation are recognized only if there is virtual
certainty that such deferred tax asset can be realized against future
taxable profits
10. Contingent Liabilities & Provisions
Contingent Liabilities are possible but not probable obligations as on
the Balance Sheet date, based on the available evidence.
Provisions are recognized when there is a present obligation as a
result of past event and it is probable that an outflow of resources
will be required to settle the obligation, in respect of which a
reliable estimate can be made.
Provisions are determined based on best estimate required to settle the
obligation at the Balance Sheet date.
Mar 31, 2013
1. Basis of Accounting
The financial statements have been prepared under the historical cost
convention and on accrual basis in compliance with all material aspect
of the applicable Accounting Standards in India and the relevant
provisions of the Companies Act, 1956, except otherwise mentioned, the
accounting policies have been consistently applied by the Company and
are consistent with those used in the previous year.
2. Revenue Recognition
a. Revenue from Broking income is recognised on completed contract
method.
b. Dividend income is accounted on receipt basis.
c. Option premium Income is booked after the same is actually
realised.
3. Expenditure
Expenses are accounted on accrual basis and provisions are made for all
known losses and liabilities.
4. Fixed Assets
Fixed Assets are stated at cost less depreciation / impairment losses,
if any. Cost includes cost of purchase and other cost attributable to
bringing the assets to working condition for intended use.
5. Depreciation
Depreciation is provided on pro rata basis using written down value
method at the rate specified under Schedule XIV to the Companies Act
1956. Depreciation on assets added/ disposed during the year is
provided with reference to the date of addition/ disposal.
6. AS-28 Impairment of Assets
The carrying amounts of assets are reviewed at each Balance Sheet date
for any indication of impairment based on internal/external factors. An
asset is treated as impaired when the carrying cost of the assets
exceeds its recoverable value.
7. Foreign Currency Translation
Transactions in foreign currency (if any) are recorded at the rate of
exchange prevailing on the date of transaction. Foreign currency
monetary items are reported using closing rate of exchange at the end
of the year. The resulting exchange gain/loss is reflected in the
profit and loss account. Other items, like fixed assets, investments in
equity shares are carried in terms of historical cost using the
exchange rate at the date of transaction.
8. Investments
Investments are classified into long term investments and current
investments. Investments which are intended to be held for more than
one year are classified as long term investments and investments which
are intended to be held for less than one year are classified as
current investments. Long term investments are accounted at cost and
any decline in the carrying value other than temporary in nature is
provided for.
9. Taxation
Tax expense comprises of current and deferred tax
Provision for current tax is made on the basis of estimated taxable
income for the current accounting year in accordance with the Income
Tax Act, 1961
The deferred tax for timing differences between the book and tax
profits for the year is accounted for, using the tax rates and laws
that have been substantively enacted as of the balance sheet date.
Deferred tax assets arising from timing differences are recognized to
the extent there is reasonable certainty that these would be realized
in future
Deferred tax assets in case of unabsorbed losses and unabsorbed
depreciation are recognized only if there is virtual certainty that
such deferred tax asset can be realized against future taxable profits
10. Contingent Liabilities & Provisions
Contingent Liabilities are possible but not probable obligations as on
the Balance Sheet date, based on the available evidence.
Provisions are recognized when there is a present obligation as a
result of past event and it is probable that an outflow of resources
will be required to settle the obligation, in respect of which a
reliable estimate can be made.
Provisions are determined based on best estimate required to settle the
obligation at the Balance Sheet date.
Mar 31, 2012
1. Basis of Accounting
The financial statements have been prepared under the historical cost
convention and on accrual basis in compliance with all material aspect
of the applicable Accounting Standards in India and the relevant
provisions of the Companies Act, 1956, except otherwise mentioned, the
accounting policies have been consistently applied by the Company and
are consistent with those used in the previous year.
2. Revenue Recognition
a. Revenue from Broking income is recognised on completed contract
method.
b. Dividend income is accounted on receipt basis.
c. Option'premium Income is booked after the same is actually
realised.
3. Expenditure
Expenses are accounted on accrual basis and provisions are made for all
known losses and liabilities.
4. Fixed Assets
Fixed Assets are stated at cost less depreciation / impairment losses,
if any. Cost includes cost of purchase and other cost attributable to
bringing the assets to working condition for intended use.
5. Depreciation
Depreciation is provided on pro rata basis using written down value
method al the late specified under Schedule XIV to the Companies Act
1956. Depreciation on assets added/ disposed during the year is
provided with reference to the date of addition/ disposal.
6. AS-28 Impairment of Assets
The carrying amounts of assets are reviewed at each Balance Sheet date
for any indication of impairment based on internal/external factors. An
asset is treated as impaired when the carrying cost of the assets
exceeds its recoverable value.
7. Foreign Currency Translation
Transactions in foreign currency (if any) are recorded at the rate of
exchange prevailing on the date of transaction. Foreign currency
monetary items are reported using closing rate of exchange at the end
of the year. The resulting exchange gain/loss is reflected in the
profit and loss account. Other items, like fixed assets, investments in
equity shares are carried in terms of historical cost using the
exchange rate at the date of transaction.
Mar 31, 2011
1 Basis of Accounting
The financial statements have been prepared under the historical cost
convention and on accrual basis in compliance with all material aspect
of the applicable Accounting Standards in India and the relevant
provisions of the Companies Act, 1956, except otherwise mentioned, the
accounting policies have been consistently applied by the Company and
are consistent with those used in the previous year.
2. Revenue Recognition
a. Revenue from Broking income is recognised on completed contract
method.
b. Dividend income is accounted on receipt basis.
c. Option premium Income is booked after the same is actually
realised.
3. Expenditure
Expenses are accounted on accrual basis and provisions are made for all
known losses and liabilities.
4. Fixed Assets
Fixed Assets are stated at cost less depreciation / impairment losses,
if any. Cost includes cost of purchase and other cost attributable to
bringing the assets to working condition for intended use.
5. Depreciation
Depreciation is provided on pro rata basis using written down value
method at the rate specified under Schedule XIV to the Companies Act
1956. Depreciation on assets added/disposed during the year is provided
with reference to the date of addition/ disposal.
6. AS-28 Impairment of Assets
The carrying amounts of assets are reviewed at each Balance Sheet date
for any indication of impairment based on internal, external factors.
An asset is treated as impaired when the carrying cost of the assets
exceeds its recoverable value.
7. Foreign Currency Translation
Transactions in foreign currency (if any) are recorded at the rate of
exchange prevailing on the date of transaction. Foreign currency
monetary items are reported using closing rate of exchange at the end
of the year. The resulting exchange gain/loss is reflected in the
profit and loss account. Other items, like fixed assets, investments
in equity shares are carried in terms of historical cost using the
exchange rate at the date of transaction.
8. Investments
Investments are classified into long term investments and current
investments. Investments which are intended to be held for more than
one year are classified as long term investments and investments which
are intended to be held for less than one year are classified as
current investments. Long term investments are accounted at cost and
any decline in the carrying value other than temporary in nature is
provided for.
9. Taxation
Tax expense comprises of current and deferred tax
Provision for current tax is made on the basis of estimated taxable
income for the current accounting year in accordance with the Income
Tax Act, 1961
The deferred tax for timing differences between the book and tax
profits for the year is accounted for, using the tax rates and laws
that have been substantively enacted as of the balance sheet date.
Deferred tax assets arising from timing differences are recognized to
the extent there is reasonable certainty that these would be realized
in future
Deferred tax assets in case of unabsorbed losses and unabsorbed
depreciation are recognized only if there is virtual certainty that
such deferred tax asset can be realized against future taxable profits
10. Contingent Liabilities & Provisions
Contingent Liabilities are possible but not probable obligations as on
the Balance Sheet date, based on the available evidence.
Provisions are recognized when there is a present obligation as a
result of past event and it is probable that an outflow of resources
will be required to settle the obligation, in respect of which a
reliable estimate can be made.
Provisions are determined based on best estimate required to settle the
obligation at the Balance Sheet date
Mar 31, 2010
1. Accounting polcies not specifically reffered to otherwise are in
accordance with generally accepted accounting principles.
2. Expenses and Income considered payable and receivable respectively
are accounted for on acrual basis.
3. In the opinion of the Board, the Current Assets, Loans and and
Advances are approximestely of the value stated if realised In the
oridinary course of business. The provisions of all known liabilites is
adequate and not in excess of the amount necessary.
Fixed assets & Depreciation
4. Fixed Assets are capitalised at cost inclusive of all incidental
expenses related thereon.
5. Depreciation on the assets has been provided on written down value
bases as per the rates prescribed under schedule. xiv of the companies
Act, 1956 and on pro-rate basis from the date of addition.
6. Investments are valued at cost price. All the shares are not in
Demat form, few shares are in physical form and are in possession of
Directors.
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