Mar 31, 2015
I. Recognition of Income and Expenditure-
Revenue / Income and Costs / Expenditure are generally accounted on
accrual basis as and when they are earned or incurred except as
otherwise stated in the Accounts.
II. Fixed Assets-
Tangible assets are stated at cost, less accumulated depreciation and
impairment, if any. Direct costs are capitalized until such assets are
ready for use. Capital work-in-progress comprises of the cost of fixed
assets that are not yet ready for their intended use at the reporting
date.
III. Method of Depreciation-
Depreciation on tangible assets is provided on the straight-line method
over the useful lives of assets as prescribed under Part C of Schedule
II of the Companies Act 2013. Depreciation for assets purchased / sold
during a period is proportionately charged.
IV. Valuation of In ventories-
Stocks of quoted equity shares are valued at cost or Market value
whichever is lower and where the quotations are not available, at cost.
Unquoted shares are valued at cost.
V. Investments-
Investments in Shares & Securities are all long term and are valued at
cost. Temporary diminution in the value of Investments meant to be held
for long period of time is not recognised.
VI. Taxes on income-
Tax expense comprise both current tax and deferred tax at the
applicable enacted rates.
Current tax represents the amount of income tax payable / recoverable
in respect of the taxable income/loss for the reporting period.
Deferred tax represents the effect of timing differences be- tween
taxable and accounting income for the reporting period that originate
in, one period and are capable of reversal in one or more subsequent
periods.
VII. Retirement Benefits-
The Company contributes to Provident Fund administered by Government
and such contributions are charged to revenue. The company's liability
in respect of gratuity has been accounted for and is funded with Life
Insurance Corporation of India under its Group Gratuity Scheme.
VIII. Contingent Liabilities-
Contingent Liabilities are generally not provided for in the accounts
and are separately shown by way of Note.
Mar 31, 2014
I. Recognition of Income and Expenditure -
Revenue / Income and Costs / Expenditure are generally accounted on
accrual basis as and when they are earned or incurred except as
otherwise stated in the Accounts.
II. Fixed Assets -
Fixed Assets are stated at cost less accumulated depreciation.
III. Method of Depreciation -
Depreciation on all assets other than Plant & Machinery & Others (being
not in use) is provided for on the straight line method in accordance
with the provisions of Section 205(2)(b) as per the rates specified in
Schedule XIV to the Companies Act, 1956. Depreciation on additions or
on disposal of assets is calculated pro-rata from the month of such
additions or upto the month of such disposal, as the case may be.
IV. Valuation of Inventories -
Stocks of quoted equity shares are valued at cost or Market value
whichever is lower and where the quotations are not available, at cost.
Unquoted shares are valued at cost.
V. Investments-
Investments in Shares & Securities are all long term and are valued at
cost. Temporary diminution in the value of Investments meant to be held
for long period of time is not recognised.
VI Taxes on income -
Tax expense comprise both current tax and deferred tax at the
applicable enacted rates.
Current tax represents the amount of income tax payable / recoverable
in respect of the taxable income/loss for the reporting period.
Deferred tax represents the effect of timing differences between
taxable and accounting income for the reporting period that originate
in one period and are capable of reversal in one or more subsequent
periods.
VII. Retirement Benefits -
The Company contributes to Provident Fund administered by Government
and such contributions are charged to revenue. The company''s liability
in respect of gratuity has been accounted for and is funded with Life
Insurance Corporation of India under its Group Gratuity Scheme.
VIII. Contingent Liabilities -
Contingent Liabilities are generally not provided for in the accounts
and are separately shown by way of Note.
Mar 31, 2013
I. Recognition of Income and Expenditure -
Revenue / Income and Costs / Expenditure are generally accounted on
accrual basis as and when they are earned or incurred except as
otherwise stated in the Accounts.
II Fixed Assets -
Fixed Assets are stated at cost less accumulated depreciation.
III Method of Depreciation -
Depreciation on all assets other than Plant & Machinery & Others (being
not in use) is provided for on the straight line method in accordance
with the provisions of Section 205(2)(b) as perthe rates specified in
Schedule XIV to the Companies Act, 1956. Depreciation on additions oron
disposal of assets is calculated pro-rata from the month of such
additions or upto the month of such disposal, as the case may be.
IV. Valuation of Inventories -
Stocks of quoted equity shares are valued at cost or Market value
whichever is lower and where the quotations are not available, at cost.
Unquoted shares are valued at cost.
V Investments -
Investments in Shares & Securities are all long term and are valued at
cost. Temporary diminution in the value of Investments meant to be held
for long period of time is not recognised.
VI. Taxes on income -
Tax expense comprise both current tax and deferred tax at the
applicable enacted rates.
Current tax represents the amount of income tax payable / recoverable
in respect of the taxable income/loss for the reporting period.
Deferred tax represents the effect of timing differences between
taxable and accounting income for the reporting period that originate
in one period and are capable of reversal in one or more subsequent
periods.
VII. Retirement Benefits -
The Company contributes to Provident Fund administered by Government
and such contributions are charged to revenue. The company''s
liabilities in respect of gratuity have been accounted for and is
funded with Life Insurance Corporation of India under its Group
Gratuity Scheme.
VIII. Contingent Liabilities- Contingent Liabilities are generally not
provided for in the accounts and are separately shown by way of Note.
Mar 31, 2012
I Recognition of Income and Expenditure - ,
Revenue / Income and Costs / Expenditure are generally accounted on
accrual basis as and when they are earned or incurred except as
otherwise stated in the Accounts.
II Fixed Assets -
Fixed Assets are stated at cost less accumulated depreciation.
III. Method of Depreciation -
Depreciation on all assets other than Plant & Machinery & Others (being
not in use) is provided for on the straight line method in accordance
with the provisions of Section 205(2)(b) as per the rates specified in
Schedule XIV to the Companies Act, 1956. Depreciation on additions or
on disposal of assets is calculated pro-rata from the month of such
additions or upto the month of such disposal, as the case may be.
IV. Valuation of Inventories -
Stocks of quoted equity shares are valued at cost or Market value
whichever is lower and where the quotations are not available, at cost.
Unquoted shares are valued at cost.
V. Investments -
Investments in Shares & Securities are all long term and are valued at
cost. Temporary diminution in the value of Investments meant to be held
for long period of time is not recognised.
VI. Taxes on income -
Tax expense comprise both current tax and deferred tax at the
applicable enacted rates.
Current tax represents the amount of income tax payable / recoverable
in respect of the taxable income/loss for the reporting period.
Deferred tax represents the effect of timing differences between
taxable and accounting income for the reporting period that originate
in one period and are capable of reversal in one or more subsequent
periods.
VII. Retirement Benefits -
The Company contributes to Provident Fund administered by Government
and such contributions are charged to revenue. The company's
liabilities in respect of gratuity has been accounted for and is funded
with Life Insurance Corporation of India under its Group Gratuity
Scheme.
VIII. Contingent Liabilities -
Contingent Liabilities are generally not provided for in the accounts
and are separately shown by way of Note.
Mar 31, 2010
I. Recognition of Income and Expenditure -
Revenue / Income and Costs / Expenditure are generally accounted on
accrual basis as and when they are earned or incurred except as
otherwise stated in the Accounts.
II. Fixed Assets -
Fixed Assets are stated at cost less accumulated depreciation.
III. Method of Depreciation -
Depreciation on all assets other than Plant & Machinery & Others (being
not in use) is provided for on the straight line method in accordance
with the provisions of Section 205(2)(b) as per the rates specified in
Schedule XIV to the Companies Act, 1956. Depreciation on additions or
on disposal of assets is calculated pro-rata from the month of such
additions or upto the month of such disposal, as the case may be.
IV. Valuation of Inventories -
Stocks of quoted equity shares are valued at cost or Market value
whichever is lower and where the quotations are not available, at cost.
Unquoted shares are valued at cost.
V. Investments -
Investments in Shares & Securities are all long term and are valued at
cost. Temporary diminution in the value of Investments meant to be held
for long period of time is not recognised.
VI. Taxes on income -
Tax expense comprise both current tax and deferred tax at the
applicable enacted rates.
Current tax represents the amount of income tax payable / recoverable
in respect of the taxable income/loss for the reporting period.
Deferred tax represents the effect of timing differences between
taxable and accounting income for the reporting period that originate
in one period and are capable of reversal in one or more subsequent
periods.
VII. Retirement Benefits -
The Company contributes to Provident Fund administered by Government
and such contributions are charged to revenue. The companyÃs
liabilities in respect of gratuity have been accounted for and is
funded with Life Insurance Corporation of India under its Group
Gratuity Scheme.
VIII. Contingent Liabilities -
Contingent Liabilities are generally not provided for in the accounts
and are separately shown by way of Note.
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