Mar 31, 2015
1.1 Basis of preparation of financial statements
The Financial Statements are prepared under in accordance with Indian
Generally Accepted Accounting Principles (GAAP) under the historical
cost convention on accrual basis except those stated at revalued amount
on the going concern basis. GAAP comprises mandatory accounting
standards as prescribed by the Companies Rules, 2006; the provision of
the Companies Act, 2013 and guidelines issued by the Securities and
Exchange Board of India (SEBI). Accounting policies have been
consistently applied except where a newly issued accounting standard is
initially adopted or a revision to an existing accounting standard
requires a change in the accounting policy hereto in use.
1.2 Fixed Assets:
Fixed assets are stated at cost less accumulated depreciation. Cost is
inclusive of freight, duties, levies and any directly attributable cost
of bringing the assets to their working condition for their intended
use.
1.3 Depreciation:
Depreciation on tangible assets is provided to the extent of
depreciable amount on straight line method over the useful life of such
assets as specified in Schedule II to the Companies Act, 2013.
1.4 Revenue Recognition
Revenue is recognized only when it is reasonably certain that the
ultimate collection will be made.
1.5 Retirement Benefits
The Company follows the policy of accounting for the same only on
crystallization of the liability.
1.6 Provision for Current and Deferred Tax
Provision for Current tax is made after taking into consideration
benefits admissible under the Income Tax Act, 1961. Deferred Tax is
recognized, on timing difference, being the difference between taxable
income and accounting income that originate in one period and are
capable of reversal in one or more subsequent periods. The tax effect
is calculated on the accumulated timing differences at the end of an
accounting period based on enacted or substantially enacted
regulations. Deferred tax asset is recognized and carried forward only
to the extent that there is virtual certainty that the asset will be
realized in future.
1.7 Expenses
Material known liabilities are provided for on the basis of available
information / estimates. Material items of prior period expenses,
non-recurring and extra ordinary expenses are disclosed separately.
1.8 Earnings Per Share
Basic Earnings per share is computed by dividing the net profit after
tax by the weighted average number of equity shares outstanding during
the period.
1.9 Stock In Trade
Stocks are valued at lower of cost or market value.
1.10 Provisions, Contingent Liabilities and Contingent Assets
Provisions are recognized when there is present obligation as a result
of a past event it is probable that an outflow of resources will be
required to settle the obligation and in respect of which reliable
estimate can be made. Contingent Liabilities are disclosed in the notes
on accounts. Unless the possibility of any outflow in settlement is
remote, contingent assets are neither recognized nor disclosed.
Mar 31, 2014
1.1 Basis of preparation of financial statements
The Financial Statements are prepared under in accordance with Indian
Generally Accepted Accounting Principles (GAAP) under the historical
cost convention on accrual basis except those stated at revalued amount
on the going concern basis. GAAP comprises mandatory accounting
standards as prescribed by the Companies Rules, 2006; the provision of
the Companies Act, 1956 and guidelines issued by the Securities and
Exchange Board of India (SEBI). Accounting policies have been
consistently applied except where a newly issued accounting standard is
initially adopted or a revision to an existing accounting standard
requires a change in the accounting policy hereto in use.
1.2 Fixed Assets:
Fixed assets are stated at cost less accumulated depreciation. Cost is
inclusive of freight, duties, levies and any directly attributable cost
of bringing the assets to their working condition for their intended
use.
1.3 Depreciation:
Depreciation on fixed assets has been provided under the straight line
method and in the manner provided by Schedule XIV to the Companies Act,
1956.
1.4 Revenue Recognition
Revenue is recognized only when it is reasonably certain that the
ultimate collection will be made.
1.5 Retirement Benefits
The Company follows the policy of accounting for the same only on
crystallization of the liability.
1.6 Provision for Current and Deferred Tax
Provision for Current tax is made after taking into consideration
benefits admissible under the Income Tax Act, 1961. Deferred Tax is
recognized, on timing difference, being the difference between taxable
income and accounting income that originate in one period and are
capable of reversal in one or more subsequent periods. The tax effect
is calculated on the accumulated timing differences at the end of an
accounting period based on enacted or substantially enacted
regulations. Deferred tax asset is recognized and carried forward only
to the extent that there is virtual certainty that the asset will be
realized in future.
1.7 Expenses
Material known liabilities are provided for on the basis of available
information / estimates. Material items of prior period expenses,
non-recurring and extra ordinary expenses are disclosed separately.
1.8 Earnings Per Share
Basic earnings per share is computed by dividing the net profit after
tax by the weighted average number of equity shares outstanding during
the period.
1.9 Stock In Trade
Stock are valued at lower of cost or market value.
1.10 Provisions, Contingent Liabilities and Contingent Assets
Provisions are recognized when there is present obligation as a result
of a past event it is probable that an outflow of resources will be
required to settle the obligation and in respect of which reliable
estimate can be made. Contingent Liabilities are disclosed in the notes
on accounts. Unless the possibility of any outflow in settlement is
remote, contingent assets are neither recognized nor disclosed.
Mar 31, 2012
1.1 Basis of preparation of financial statements
The Financial Statements are prepared under in accordance with Indian
Generally Accepted Accounting Principles (GAAP) under the historical
cost convention on accrual basis except those stated at revalued amount
on the going concern basis. GAAP comprises mandatory accounting
standards as prescribed by the Companies Rules, 2006; the provision of
the Companies Act, 1956 and guidelines issued by the Securities and
Exchange Board of India (SEBl). Accounting policies have been
consistently applied except where a newly issued accounting standard is
initially adopted or a revision to an existing accounting standard
requires a change in the accounting policy hereto in use.
1.2 Fixed Assets:
Fixed assets are stated at cost less accumulated depreciation. Cost is
inclusive of freight, duties, levies and any directly attributable cost
of bringing the assets to their working condition for their intended
use.
1.3 Depreciation:
Depreciation on fixed assets has been provided under the straight line
method and in the manner provided by Schedule XIV to the Companies Act,
1956.
1.4 Revenue Recognition
Revenue is recognized only when it is reasonably certain that the
ultimate collection will be made.
1-5 Retirement Benefits
The Company follows the policy of accounting for the same only on
crystallization of the liability.
1.6 Provision for Current and Deferred Tax
Provision for Current tax is made after taking into consideration
benefits admissible under the Income Tax Act, 1961. Deferred Tax is
recognized, on timing difference, being the difference between taxable
income and accounting income that originate in one period and are
capable of reversal in one or more subsequent periods. The tax effect
is calculated on the accumulated timing differences at the end of an
accounting period based on enacted or substantially enacted
regulations. Deferred tax asset is recognized and carried forward only
to the extent that there is virtual certainty that the asset will be
realized in future.
1.7 Expenses
Material known liabilities are provided for on the basis of available
information / estimates. Material items of prior period expenses,
non-recurring and extra ordinary expenses are disclosed separately,
1.8 Earnings Per Share
Basic earnings per share is computed by dividing the net profit after
tax by the weighted average number of equity shares outstanding during
die period.
1.9 Investment
Investments are stated at cost. .Any diminution in the value
Of investment is charged to Profit and Loss Account, if such a decline
is other than temporary in the opinion of the Management.
1.10 Provisions, Contingent Liabilities and Contingent Assets *
Provisions are recognized when there is present obligation as a result
of a past event it is probable that an outflow of resources will be
required to settle the obligation and in respect of which reliable
estimate can be made. Contingent Liabilities are disclosed in the notes
on accounts. Unless the possibility of any outflow in settlement is
remote, contingent assets are neither recognized nor disclosed.
Mar 31, 2011
A) Basis of Accounting
The Financial Statements are prepared under the historical cost
convention and on accrual basis except those stated at revalued amount
on the going concern basis.
b) Fixed Assets:
Fixed assets are stated at cost less accumulated depreciation, Cost is
inclusive of freight, duties, levies and any directly attributable cost
of bringing the assets to their working condition for their intended
use.
c) Depreciation:
Depreciation on fixed assets has been provided under the straight line
method at the rates and in the manner provided by Schedule XIV to the
Companies Act, 1956.
d) Revenue Recognition
Revenue is recognized only when it is reasonably certain that the
ultimate collection will be made,
e) Retirement Benefits
The Company follows the policy of accounting for the same only on
crystallization of the liability,
f) Provision for Current and Deferred Tax
Provision for Current tax is made after taking into consideration
benefits admissible under the Income Tax Act, 1961. Deferred tax
resulting from "timing difference" between taxable and accounting
income is accounted for using the tax rates and laws that are enacted
or substantively enacted as on the balance sheet date, Deferred tax
asset is recognized and carried forward only to the extent that there
is virtual certainty that the asset will be realized in future.
g) Expenses
Material known liabilities are provided for on the basis of available
information / estimates, Material items of prior period expenses,
non-recurring and extra ordinary expenses are disclosed separately.
Mar 31, 2010
A) Basis of Accounting
Financial statements are prepared on historical cost convention and on
accrual basis except those stated at revalued amount and on the going
concern basis
b) Fixed Assets:
Fixed Assets are valued at historical cost less depreciation.
c) Depreciation:
Depreciation on fixed assets has been provided under the straight line
method at the rates and in the manner provided by Schedule XIV to the
Companies Act, 1956.
d) Revenue Recognition
Revenue is recognized only when it is reasonably certain that the
ultimate collection will be made.
e) Retirement Benefits
The Company follows the policy of accounting for the same only on
crystallization of the liability.
Mar 31, 2009
A). Basis of Accounting
Financial statements are prepared on historical cost convention and on
accrual basis except those stated at revalued amount and on the going
concern basis
b). Fixed Assets:
Fixed Assets are valued at historical cost less depreciation.
c). Depreciation:
Depreciation on fixed assets has been provided under the straight line
method at the rates and in the manner provided by Schedule XIV to the
Companies Act, 1956.
d). Revenue Recognition
Revenue is recognized only when it is reasonably certain that the
ultimate collection will be made.
e). Retirement Benefits
The Company follows the policy of accounting for the same only on
crystallization of the liability.