Mar 31, 2015
A. Basis of preparation of Accounts
The financial statements are prepared on accrual basis, following the
historical cost convention in accordance with the Generally Accepted
Accounting Principles (GAAP), which are consistently adopted by the
Company, and in compliance with the Accounting Standard issued by the
Institute of Chartered Accountants of India and provisions of the
Companies Act, 2013, to the extent applicable.
b. Use of Estimates
The presentation of financial statements in conformity with GAAP
requires estimates and assumptions to be made that affect the reported
amount of assets and liabilities and disclosure of contingent
liabilities on the date of the financial statements. Any differences
between the actual results and the estimates are recognized in the
period in which the results are known / materialized.
c. Fixed Assets
Fixed Assets are stated at cost of acquisition including expenses
incidental to their acquisition less accumulated depreciation &
impairment.
d. Depreciation
Depreciation on Fixed Assets is provided on the Written Down Value
Method, at the rates and in the manner prescribed in Schedule XIV to
the Companies Act, 2013.
e. Revenue Recognition
All the incomes are accounted on accrual basis.
f. Employee Benefits
i) Short-term employee benefits are recognized as an expense at the
undiscounted amount in the Profit & Loss Account for the year in which
the related service is rendered.
ii) Post-employment and other long-term employee benefits are
recognised as an expense in the Profit & Loss Account for the year in
which the employee has rendered services. The expense is recognised at
the present value of the amount payable determined using actuarial
valuation techniques. Actuarial gains and loss in respect of
post-employment and other long-term benefits are charged to the Profit
& Loss Account.
g. Retirement Benefits
Company has policy of making provision for retirement benefits as and
when the liability arises.
h. Impairment of Assets
An asset is treated as impaired when the carrying cost of the asset
exceeds its recoverable value. An impairment loss is charged to the
Profit & Loss Account in the year in which an asset is identified as
impaired. The impairment loss recognized in prior accounting period is
reversed if there has been a change in the estimate of recoverable
amount.
i. Derivative Instruments
Derivative financial instruments are recorded at fair value on the date
of the derivative transaction and are re-measured at their fair value
at subsequent Balance Sheet date. Changes in the fair value of
derivatives are recorded in the Profit & Loss Account.
j. Provision for Current and Deferred Tax
Provision for current tax is made after taking into consideration
benefits admissible under the provisions of the Income tax Act, 1961.
Deferred tax resulting from "time differences" between taxable and
accounting income is accounted for using the tax rates and laws that
are enacted or substantively enacted as on Balance Sheet date. The
effect of deferred tax asset & liabilities of a change in tax rates is
recognised in the Profit & Loss Account in the year of change.
Mar 31, 2014
A. Basis of preparation of Accounts
The financial statements are prepared on accrual basis, following the
historical cost convention in accordance with the Generally Accepted
Accounting Principles (GAAP), which are consistently adopted by the
Company, and in compliance with the Accounting Standard issued by the
Institute of Chartered Accountants of India and provisions of the
Companies Act, 1956, to the extent applicable.
b. Use of Estimates
The presentation of financial statements in conformity with GAAP
requires estimates and assumptions to be made that affect the reported
amount of assets and liabilities and disclosure of contingent
liabilities on the date of the financial statements. Any differences
between the actual results and the estimates are recognized in the
period in which the results are known / materialized.
c. Fixed Assets
Fixed Assets are stated at cost of acquisition including expenses
incidental to their acquisition less accumulated depreciation &
impairment.
d. Depreciation
Depreciation on Fixed Assets is provided on the Written Down Value
Method, at the rates and in the manner prescribed in Schedule XIV to
the Companies Act, 1956.
e. Revenue Recognition
All the incomes are accounted on accrual basis.
f. Employee Benefits
i) Short-term employee benefits are recognized as an expense at the
undiscounted amount in the Profit & Loss Account for the year in which
the related service is rendered.
ii) Post-employment and other long-term employee benefits are
recognised as an expense in the Profit & Loss Account for the year in
which the employee has rendered services. The expense is recognised at
the present value of the amount payable determined using actuarial
valuation techniques. Actuarial gains and loss in respect of
post-employment and other long-term benefits are charged to the Profit
& Loss Account.
g. Retirement Benefits
Company has policy of making provision for retirement benefits as and
when the liability arises.
h. Impairment of Assets
An asset is treated as impaired when the carrying cost of the asset
exceeds its recoverable value. An impairment loss is charged to the
Profit & Loss Account in the year in which an asset is identified as
impaired. The impairment loss recognized in prior accounting period is
reversed if there has been a change in the estimate of recoverable
amount.
i. Derivative Instruments
Derivative financial instruments are recorded at fair value on the date
of the derivative transaction and are re-measured at their fair value
at subsequent Balance Sheet date. Changes in the fair value of
derivatives are recorded in the Profit & Loss Account.
j. Provision for Current and Deferred Tax
Provision for current tax is made after taking into consideration
benefits admissible under the provisions of the Income Tax Act, 1961.
Deferred tax resulting from "time differences" between taxable and
accounting income is accounted for using the tax rates and laws that
are enacted or substantively enacted as on Balance Sheet date. The
effect of deferred tax asset & liabilities of a change in tax rates is
recognised in the Profit & Loss Account in the year of change.
Mar 31, 2013
A. Basis of preparation of Accounts
The financial statements are prepared on accrual basis, following the
historical cost convention in accordance with the Generally Accepted
Accounting Principles (GAAP), which are consistently adopted by the
Company, and in compliance with the Accounting Standard issued by the
Institute of Chartered Accountants of India and provisions of the
Companies Act, 1956, to the extent applicable.
b. Use of Estimates
The presentation of financial statements in conformity with GAAP
requires estimates and assumptions to be made that affect the reported
amount of assets and liabilities and disclosure of contingent
liabilities on the date of the financial statements. Any differences
between the actual results and the estimates are recognized in the
period in which the results are known / materialized.
c. Fixed Assets
Fixed Assets are stated at cost of acquisition including expenses
incidental to their acquisition less accumulated depreciation &
impairment.
d. Depreciation
Depreciation on Fixed Assets is provided on the Written Down Value
Method, at the rates and in the manner prescribed in Schedule XIV to
the Companies Act, 1956.
e. Revenue Recognition
All the incomes are accounted on accrual basis.
f. Employee Benefits
i) Short-term employee benefits are recognized as an expense at the
undiscounted amount in the Profit & Loss Account for the year in which
the related service is rendered.
ii) Post-employment and other long-term employee benefits are
recognised as an expense in the Profit & Loss Account for the year in
which the employee has rendered services. The expense is recognised at
the present value of the amount payable determined using actuarial
valuation techniques. Actuarial gains and loss in respect of
post-employment and other long-term benefits are charged to the Profit
& Loss Account.
g. Retirement Benefits
Company has policy of making provision for retirement benefits as and
when the liability arises.
h. Impairment of Assets
An asset is treated as impaired when the carrying cost of the asset
exceeds its recoverable value. An impairment loss is charged to the
Profit & Loss Account in the year in which an asset is identified as
impaired. The impairment loss recognized in prior accounting period is
reversed if there has been a change in the estimate of recoverable
amount.
i. Derivative Instruments
Derivative financial instruments are recorded at fair value on the date
of the derivative transaction and are re-measured at their fair value
at subsequent Balance Sheet date. Changes in the fair value of
derivatives are recorded in the Profit & Loss Account.
j. Provision for Current and Deferred Tax
Provision for current tax is made after taking into consideration
benefits admissible under the provisions of the Income Tax Act, 1961.
Deferred tax resulting from "time differences" between taxable and
accounting income is accounted for using the tax rates and laws that
are enacted or substantively enacted as on Balance Sheet date. The
effect of deferred tax asset & liabilities of a change in tax rates is
recognised in the Profit & Loss Account in the year of change.
Mar 31, 2012
A. Basis of preparation of Accounts
The financial statements are prepared on accrual basis, following the
historical cost convention in accordance with the Generally Accepted
Accounting Principles (GAAP), which are consistently adopted by the
Company, and in compliance with the Accounting Standard issued by the
Institute of Chartered Accountants of India and provisions of the
Companies Act, 1956, to the extent applicable.
b. Use of Estimates
The presentation of financial statements in conformity with GAAP
requires estimates and assumptions to be made that affect the reported
amount of assets and liabilities and disclosure of contingent
liabilities on the date of the financial statements. Any differences
between the actual results and the estimates are recognized in the
period in which the results are known / materialized.
c. Fixed Assets
Fixed Assets are stated at cost of acquisition including expenses
incidental to their acquisition less accumulated depreciation &
impairment.
d. Depreciation
Depreciation on Fixed Assets is provided on the Written Down Value
Method, at the rates and in the manner prescribed in Schedule XIV to
the Companies Act, 1956.
e. Revenue Recognition
All the incomes are accounted on accrual basis.
f. Employee Benefits
1. Short-term employee benefits are recognized as an expense at the
undiscounted amount in the profit and loss account for the year in
which the related service is rendered.
2. Post employment and other long term employee benefits are
recognized as an expense in the profit and loss account for the year in
which the employee has rendered services. The expense is recognized at
the present value of the amount payable determined using actuarial
valuation techniques. Actuarial gains and loss in respect of post
employment and other long term benefits are charged to the profit and
loss account.
g. Retirement Benefits
Company has policy of making provision for retirement benefits as and
when the liability arises.
h. Impairment of Assets
An asset is treated as impaired when the carrying cost of the asset
exceeds its recoverable value. An impairment loss is charged to the
profit and loss account in the year in which an asset is identified as
impaired. The impairment loss recognized in prior accounting period is
reversed if there has been a change in the estimate of recoverable
amount.
i. Derivative Instruments
Derivative financial instruments are recorded at fair value on the date
of the derivative transaction and are re-measured at their fair value
at subsequent Balance Sheet date. Changes in the fair value of
derivatives are recorded in the profit & loss account.
j. Provision for Current and Deferred Tax
Provision for current tax is made after taking into consideration
benefits admissible under the provisions of the Income Tax Act, 1961.
Deferred tax resulting from "time differences" between taxable and
accounting income is accounted for using the tax rates and laws that
are enacted or substantively enacted as on Balance Sheet date. The
effect of deferred tax asset & liabilities of a change in tax rates is
recognized in the profit & loss account in the year of change.
Mar 31, 2010
A. Basis of preparation of Accounts
The financial statements are prepared on accrual basis, following the
historical cost convention in accordance with the Generally Accepted
Accounting Principles (GAAP) which are consistently adopted by the
Company, and in compliance with the Accounting Standard issued by the
Institute of Chartered Accountants of India and provisions of the
Companies Act 1956, to the extent applicable.
B. Use of Estimates
The presentation of financial statements in conformity with the
generally accepted accounting principles requires estimates and
assumptions to be made that affect the reported amount of assets and
liabilities and disclosure of contingent liabilities on the date of the
financial statements. Any differences between the actual results and
the estimates are recognized in the period in which the results are
known / materialized.
C. Fixed Assets
Fixed Assets are stated at cost, less accumulated depreciation and
impairment loss, if any
D. Depreciation
The Company follows the written down value method of Depreciation
(WDV). The Rates of Depreciation charged on all fixed assets are those
specified in Schedule XIV to Companies Act. 1956.
E. Revenue Recognition
All the incomes are accounted on accrual basis.
F. Employee Benefits
01. Short-term employee benefits are recognized as an expense at the
undiscounted amount in the profit and loss account of the year in which
the related service is rendered.
02. Post employment and other long term employee benefits are
recognized as an expense in the profit and loss account for the year in
which the employee has render services. The expense is recognized at
the present value of the amount payable determined using actuarial
valuation techniques. Actuarial gains and loss in respect of post
employment and other long term benefits are charged to the profit and
loss account.
G. Retirement Benefits
Company has policy of making provision for retirement benefits as and
when the liability arises.
H. Provision for Current and Deferred Tax.
Provision for current tax is made after taking into consideration
benfits admissable under the provisions of the Income-tax Act,1961.
Deferred tax resulting from "time differences" between taxable and
accounting income is accounting income is accounted for using the tax
rates and laws that are enacted or substantively enacted as on balance
sheet date. The effect of deferred tax asset & liabilities of a charge
in tax rates is recognised in the profit & loss account in the year of
change.