Mar 31, 2014
(a) Basis of Accounting:
The Financial Statements are prepared under the historical cost
convention on an accrual basis and are in accordance with requirements
of the Companies Act, 1956.
(b) Fixed assets and Depreciation:
Fixed assets are stated at cost of acquisition less accumulated
depreciation.
Depreciation is provided on the written down value method, at the rates
specified in Schedule XIV to the Companies Act, 1956.
(d) Investments
Long term investments are stated at cost, less provision for diminution
in value (other than temporary) where applicable.
Short term investments are stated at lower of cost and fair value.
(e) Contingent Liabilities:
Contingent Liabilities are not provided for, and If any are separately
disclosed.
(f) Taxation
Income tax / savings comprises Current tax and Deferred Tax charge or
credit. Provision for current tax is made on the estimated taxable
income at the tax rate applicable to the relevant assessment year.
The deferred tax assets are recognised based on the principles of
prudence. Deferred tax assets and deferred tax liabilities are
calculated by applying the rate and the tax laws that have been enacted
or substantively enacted by the Balance Sheet date. Deferred Tax Assets
are reviewed at each Balance Sheet date.
Mar 31, 2012
(a) Basis of accounting
The financial statements are prepared under the historical cost
convention, on an accrual basis, in accordance with requirements of the
Companies Act, 1956.
(b) Fixed assets
Fixed assets are stated at cost inclusive of incidental expenses
(c) Depreciation
Depreciation on fixed assets has been calculated on written down value
at the rates as per Schedule XIV to the Companies Act, 1956.
(d) Investments
Long term investment are stated at cost less provision for diminution
in value (other than temporary) where applicable. Short term investment
are stated at cost and fair value
(e) Taxation
i) Current tax is measured at the amount expected to be paid in
accordance with The Income Tax Act, 1961. ii) Deferred tax is
recognized, subject to the consideration of prudence, on timing
differences, being the difference between taxable income and accounting
income that originate in one period and capable of reversal in one or
more subsequent periods
Mar 31, 2011
A) Basis of accounting :
The financial statements are prepared under Historical Cost Convention
on accrual basis.
b) Long term investments are stated at cost less provision for
diminution in value (other than temporary) where applicable. Short term
investments are stated at lower of cost and fair value.
c) Fixed Assets : Fixed Assets are capitalised at cost inclusive of
incidental expenses
d) Depreciation : Depreciation on fixed assets has been calculated on
written down value at the rates as per Schedule XIV to the Companies
Act, 1956.
e) Contingent Liabilities:
Contingent Liabilities are not provided for, and if any separately
disclosed.
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