Mar 31, 2015
(a) Basis of Preparation of Financial Statement
The financial statements have been prepared under the historical cost
convention method in accordance with the generally accepted accounting
principles and the provisions of the Companies act 1956. The Company
follows mercantile system of accounting and recognizes income and
expenditure on accrual basis except in the case of significant
uncertainty relating to income.
(b) Fixed Assets and Depreciation:
Fixed assets of the Company are stated at cost renewals and
replacements are either Capitalized of charged to revenue, as
appropriate, depending upon the nature and long-term utility of such
renewals/ replacements. In respect of assets scrapped , discarded or
retire during the year, the net block value of such assets is written
off as loss an discarded fixed assets. The receipts on sale of such
scrapped assets are accounted as and when realized.
(c) Depreciation:
The Company has a policy of providing depreciation on fixed assets on
written down basis u/s 205(2)(a) of the Companies Act, 1956 at the
rates specified in schedule XIV of the said Act.
(d) Investment:
Investment in shares of companies, quoted or unquoted are carried at
cost of acquisition.
(e) Sales, Purchase and Inventories:
Sales are invoiced on delivery of goods. Purchases are accounted on the
receipt of title of goods including related cost. Inventories are
valued at cost including all related expenses or market value whichever
is lower on FIFO Basis .Stock of Educational materials has been valued
at cost.
(f) Miscellaneous Expenditure :
Preliminary & Preoperative Expenditure is written off over five years.
(g) Excise Duty :
Excise duty is not applicable to the business in which the company is
engaged
(h) Borrowing cost:
The company follows the practice of capitalizing interest on borrowing
for capital expenditure up to the date the assets is put to use.
(i) Taxes on Income :
Tax on income for the current period is determined on the basis of
taxable income and tax credits computed in accordance with the
provisions of the Income Tax Act, 1961 and based on excepted outcome of
assessment /appeals.
Deferred Tax is recognized on timing difference between the accounting
income and the taxable income for the year ended and quantified using
the tax rates and laws enacted or substantially enacted as on the
balance sheet date.
Mar 31, 2014
(a) Basis of Preparation of Financial Statement
The financial statements have been prepared under the historical cost
convention method in accordance with the generally accepted accounting
principles and the provisions of the Companies act 1956. The Company
follows mercantile system of accounting and recognizes income and
expenditure on accrual basis except in the case of significant
uncertainty relating to income.
(b) Fixed Assets and Depreciation:
Fixed assets of the Company are stated at cost renewals and
replacements are either Capitalized of charged to revenue, as
appropriate, depending upon the nature and long-term utility of such
renewals/ replacements. In respect of assets scrapped , discarded or
retire during the year, the net block value of such assets is written
off as loss an discarded fixed assets. The receipts on sale of such
scrapped assets are accounted as and when realized.
(C) Depreciation:
The Company has a policy of providing depreciation on fixed assets on
written down basis u/s 205(2)(a) of the Companies Act, 1956 at the
rates specified in schedule XIV of the said Act.
(d) Investment:
Investment in shares of companies, quoted or unquoted are carried at
cost of acquisition.
(e) Sales, Purchase and Inventories:
Sales are invoiced on delivery of goods. Purchases are accounted on the
receipt of title of goods including related cost. Inventories are
valued at cost including all related expenses or market value whichever
is lower on FIFO Basis .Stock of Educational materials has been valued
at cost.
(f) Miscellaneous Expenditure :
Preliminary & Preoperative Expenditure is written off over five years.
(g) Excise Duty :
Excise duty is not applicable to the business in which the company is
engaged
(h) Borrowing cost:
The company follows the practice of capitalizing interest on borrowing
for capital expenditure up to the date the assets is put to use.
(i) Taxes on Income :
Tax on income for the current period is determined on the basis of
taxable income and tax credits computed in accordance with the
provisions of the Income Tax Act, 1961 and based on excepted outcome of
assessment /appeals.
Deferred Tax is recognized on timing difference between the accounting
income and the taxable income for the year ended and quantified using
the tax rates and laws enacted or substantially enacted as on the
balance sheet date.
Mar 31, 2013
(a) Basis of Preparation of Financial Statement
The financial statements have been prepared under the historical cost
convention method in accordance with the generally accepted accounting
principles and the provisions of the Companies act 1956. The Company
follows mercantile system of accounting and recognizes income and
expenditure on accrual basis except in the case of significant
uncertainty relating to income.
(b) Fixed Assets and Depreciation:
Fixed assets of the Company are stated at cost renewals and
replacements are either Capitalized of charged to revenue, as
appropriate, depending upon the nature and long-term utility of such
renewals/ replacements. In respect of assets scrapped , discarded or
retire during the year, the net block value of such assets is written
off as loss an discarded fixed assets. The receipts on sale of such
scrapped assets are accounted as and when realized.
(c) Depreciation:
The Company has a policy of providing depreciation on fixed assets on
written down basis u/s 205(2)(a) of the Companies Act, 1956 at the
rates specified in schedule XIV of the said Act.
(d) Investment:
Investment in shares of companies, quoted or unquoted are carried at
cost of acquisition.
(e) Sales, Purchase and Inventories:
Sales are invoiced on delivery of goods. Purchases are accounted on the
receipt of title of goods including related cost. Inventories are
valued at cost including all related expenses or market value whichever
is lower on FIFO Basis. Stock of Educational materials has been valued
at cost.
(f) Miscellaneous Expenditure :
Preliminary & Preoperative Expenditure is written off over five years.
(g) Excise Duty :
Excise duty is not applicable to the business in which the company is
engaged
(h) Borrowing cost:
The company follows the practice of capitalizing interest on borrowing
for capital expenditure up to the date the assets is put to use.
(i) Taxes on Income :
Tax on income for the current period is determined on the basis of
taxable income and tax credits computed in accordance with the
provisions of the Income Tax Act, 1961 and based on excepted outcome of
assessment /appeals.
Deferred Tax is recognized on timing difference between the accounting
income and the taxable income for the year ended and quantified using
the tax rates and laws enacted or substantially enacted as on the
balance sheet date.
Mar 31, 2012
(a) Basis of Preparation of Financial Statement
The financial statements have been prepared under the historical cost
convention method in accordance with the generally accepted accounting
principles and the provisions of the Companies act 1956. The Company
follows mercantile system of accounting and recognizes income and
expenditure on accrual basis except in the case of significant
uncertainty relating to income.
(b) Fixed Assets and Depreciation:
Fixed assets of the Company are stated at cost renewals and
replacements are either Capitalized of charged to revenue, as
appropriate, depending upon the nature and long-term utility of such
renewals/replacements. In respect of assets scrapped , discarded or
retire during the year, the net block value of such assets is written
off as loss an discarded fixed assets. The receipts on sale of such
scrapped assets are accounted as and when realized.
(c) Depreciation:
The Company has a policy of providing depreciation on fixed assets on
written down basis u/s 205(2)(a) of the Companies Act, 1956 at the
rates specified in schedule XIV of the said Act.
(d) Investment:
Investment in shares of companies, quoted or unquoted are carried at
cost of acquisition.
(e) Sales, Purchase and Inventories:
Sales are invoiced on delivery of goods. Purchases are accounted on the
receipt of title of goods including related cost. Inventories are
valued at cost including all related expenses or market value whichever
is lower on FIFO Basis .Stock of Educational materials has been valued
at cost.
(f) Miscellaneous Expenditure :
Preliminary & Preoperative Expenditure is written off over five years.
(g) Excise Duty :
Excise duty is not applicable to the business in which the company is
engaged
(h) Borrowing cost:
The company follows the practice of capitalizing interest on borrowing
for capital expenditure up to the date the assets is put to use.
(i) Taxes on Income :
Tax on income for the current period is determined on the basis of
taxable income and tax credits computed in accordance with the
provisions of the Income Tax Act, 1961 and based on excepted outcome of
assessment /appeals.
Deferred Tax is recognized on timing difference between the accounting
income and the taxable income for the year ended and quantified using
the tax rates and laws enacted or substantially enacted as on the
balance sheet date.
Mar 31, 2010
(a) Basis of Preparation of Financial Statement :
The financial statements have been prepared under the historical cost
convention method in accordance with the generally accepted accounting
principles and the provisions of the Companies act 1956. The Company
follows mercantile system of accounting and recognizes income and
expenditure on accrual basis except in the case of significant
uncertainty relating to income.
(b) Fixed Assets and Depreciation :
Fixed assets of the Company are stated at cost renewals and
replacements are either Capitalized of charged to revenue, as
appropriate, depending upon the nature and long-term utility of such
renewals/ replacements. In respect of assets scrapped, discarded or
retire during the year, the net block value of such assets is written
off as a loss of discarded fixed assets. The receipts on sale of such
scrapped assets are accounted as and when realized. (C) Depreciation :
The Company has a policy of providing depreciation on fixed assets on
written down basis u/s 205(2) (a) of the Companies Act, 1956 at the
rates specified in schedule XIV of the said Act. However company has
not provided the depreciation during the year. (Refer note no.: 13)
(d) Investment : Investment in shares of companies, quoted or unquoted
are carried at cost of acquisition.
(e) Sales, Purchase and Inventories :
Sales are invoiced on delivery of goods. Purchases are accounted on the
receipt of title of goods including related cost. Inventories are
valued at cost including all related expenses or market value whichever
is lower on FIFO Basis .Stock of Educational materials has been valued
at cost.
(f) Miscellaneous Expenditure : Preliminary Expenditure is written off
over ten years.
(g) Excise Duty : Excise duty is not applicable to the business in
which the company is engaged.
(h) Borrowing cost: The company follows the practice of capitalizing
interest on borrowing for capital expenditure up to the date the assets
is put to use.
(i) Taxes on Income : Tax on income for the current period is
determined on the basis of taxable income and tax credits computed in
accordance with the provisions of the Income Tax Act, 1961 and based on
excepted outcome of assessment /appeals.
Deferred Tax is recognized on timing difference between the accounting
income and the taxable income for the year ended and quantified using
the tax rates and laws enacted or substantially enacted as on the
balance sheet date.