Accounting Policies of Jaihind Synthetics Ltd. Company

Mar 31, 2015

(i) Method of Accounting

The books of accounts are maintained on accrual basis.

(ii) Fixed Assets :

The gross block of fixed assets are shown at cost which includes all capital expenses which have been incurred to bring the asset to their present location.

(iii) Depreciation :

The company has provided depreciation on Straight Line Method at the rates specified in Schedule XIV of the Companies Act, 1956.

(iv) Investments :

Investments are stated at cost. Long Term investments are carried at cost and provision for diminution in value is made only if such decline is other than temporary in the opinion of Management

(v) Sales / Turnover :

Sales / Turnover for the year includes sales value of goods, but excludes the sales return and trade discounts.

(vi) Taxation :

Provision for current tax is made in accordance with the provisions of the Income Tax Act, 1961.

Deferred tax Assets/Liabilities have not been recognized as their future recovery is uncertain or not currently anticipated

(vii) Other Accounting Policies :

These arc consistent with the generally accepted accounting practices.

(viii) Treatment of Contingent Liability :

Contingent liabilities are disclosed by way of Notes to the Accounts.

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Mar 31, 2014

(i) Method of Accounting

The books of accounts are maintained on accrual basis

(ii) Fixed Assets :

The gross block of fixed assets are shown at cost which includes all capital expenses which have been, incurred to bring the asset to their present location.

(iii) Depreciation :

The company has provided depreciation on Straight Line Method at the rates specified in Schedule XIV of the Companies Act, 1956

(iv) Investments :

Investments are stated at cost. Long Term investments are carried, at cost and provision for diminution in value is made only if such decline is other than temporary in the opinion of Management.

(v) Sales/Turnover:

Sales / Turnover for the year includes sales value of goods, but excludes the sales return and trade discounts.

(vi) Taxation :

Provision for current tax is made in accordance with the provisions of the Income Tax Act, 1961.

Deferred tax Assets/liabilities have not been recognized as their future recovery is uncertain or not currently anticipated

(vii) Other Accounting Policies :

These arc consistent with the generally accepted accounting practices,

(viii) Treatment of Contingent Liability :

Contingent liabilities are disclosed by way of Notes to the Accounts

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Mar 31, 2013

(i) Method of Accounting

The books of accounts are maintained on accrual basis.

(ii) Fixed Assets :

The gross block of fixed assets are shown at cost which includes all capital expenses which have been incurred to bring the asset to their present location.

(iii) Depreciation :

The company has provided depreciation on Straight Line Method at the rates specified in Schedule XIV of the Companies Act. 1956.

(iv) Investments :

Investments are stated at cost. Long Term investments are carried at cost and provision for diminution in value is made only if such decline is other than temporary in the opinion of Management.

(v) Sales / Turnover :

Sales / Turnover for the year includes sales value of goods, but excludes the sales return and trade discounts.

(vi) Taxation : ....

Provision for current tax is made in accordance with the provisions of the Income tax Act. 1961. Deferred tax on account of timing difference between taxable and accounting income is provided using the tax rate and tax laws enacted or substantially enacted by the Balance sheet date.

(vii) Other Accounting Policies :

These are consistent with the generally accepted accounting practices.

(viii) Treatment of Contingent Liability :

Contingent liabilities are disclosed by way of Notes to the Accounts.

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Mar 31, 2012

(i) Method of Accounting

The books of accounts are maintained on accrual basis,

(ii) Fixed Assets :

The gross block of fixed assets are shown at cost which includes all capital expenses which have been incurred to bring the asset to their present location.

Depreciation :

The company has provided depreciation on Straight Line Method at the rates specified in Schedule XIV of the Companies Act, 1956.

(iv) Investments :

Investments are stated at cost. Long Term investments are carried at cost and provision for diminution in value is made only if such decline is other than temporary in the opinion of Management.

(v) Sales / Turnover :

Sales /Turnover for the year includes sales value of goods, but excludes the sales return and trade discounts.

(vi) Taxation :

Provision for current tax is made in accordance with the provisions of the Income tax Act, 1961.

Deferred tax Assets/Liabilities have not been recognized as their future recoverv is uncertain or not currently anticipated

(vii) Other Accounting Policies :

These are consistent with the generally accepted accounting practices.

(viii) Treatment of Contingent Liability :

Contingent liabilities are disclosed by way of Notes to the Accounts.

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Mar 31, 2011

(i) Method of Accounting

The books of accounts are maintained on accrual basis.

(ii) Fixed Assets :

The gross block of fixed assets are shown at cost which includes all capital expenses which have been incurred to bring the asset to their present location.

(iii) Depreciation :

The company has provided depreciation on Straight Line Method at the rates specified in Schedule XIV of the Companies Act, 1956.

(iv) Investments :

Investments are stated at cost. Long Term investments are carried at cost and provision for diminution in value is made only if such decline is other than temporary in the opinion of Management.

(v) Sales / Turnover :

Sales/Turnover for the year includes sales value of goods, but excludes the sales return and trade discounts.

(vi) Preliminary Expenses :

Preliminary Expenditure are amortized over a period often years.

(vii) Taxation :

Provision for current tax is made in accordance with the provisions of the Income Tax Act 1961 Deferred tax on account of timing difference between taxable and accounting income is provided using the tax rate and tax laws enacted or substantially enacted by the Balance sheet date.

(viii) Other Accounting Policies :

These are consistent with the generally accepted accounting practices.

(ix) Treatment of Contingent Liability :

Contingent liabilities are disclosed by way of Notes to the Accounts.

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Mar 31, 2010

(i) Method of Accounting

The books of accounts are maintained on accrual basis.

(ii) Fixed Assets :

The gross blocks of fixed assets are shown at cost which in clues all capital expenses which have been incurred to bring the asset to their present location.

(iii) Depreciation :

The Company has provided depreciation on staring line Method at the rates specified in provision for Schedule xiv of the Companies Act, 1956.

(iv) Investments:

The company has stated at cost long term investments are carried at carried at cost provision for diminution in value is made only if such decline is other than temporary in of Management.

(v) Sales/ Turnover:

Salves/turnover for the year includes Sales Value of good's, but excludes the return and trade discounts.

(vi) Preliminary Expenses :

Preliminary Expenditure are amortized over a period often years.

(vii) Taxation :

Provision for current tax is made in accordance with the provisions of the Income Tax Act 1961. deferred tax rate on account of timing different between taxed and accounting income is provided asking the tax law rate and tax laws enacted or substantially date.

(viii) Other Accounting Policies :

These are consistent with the generally accepted accounting practices.

(ix) Treatment of Contingent Liability :

Contingent liabilities are disclosed by way of Notes to the Accounts.