Mar 31, 2014
(a) Basis of Accounting
The accounts of the company are prepared under the historical cost
convention and are in accordance with the applicable Accounting
Standards and accordingly accrual basis of accounting is followed for
recognition of Income & Expenses.
(b) Fixed Assets
The Fixed Assets are valued at cost of acquisition less accumulated
depreciation.
(c) Depreciation
Depreciation of all assets are provided on "Straight Line Method" at
the rate and manner prescribed in schedule XIV of the Companies Act,
1956.
(d) Tax on Income
Income Tax Expenses comprises current tax and deferred tax charge of
credit.
The deferred tax charge or credit is recognized using current tax
rates. When there is unabsorbed depreciation or carry forward losses,
deferred tax assets are recognised only if there is virtual certainty
of realisation of such assets. Deferred tax assets/liabilities are
reviewed as at each balance sheet date based on developments during
the year to reassess realisation/liabilities.
Mar 31, 2013
(a) Basis of Accounting
The accounts of the company are prepared under the historical cost
convention and are in accordance with the applicable Accounting
Standards and accordingly accrual basis of accounting is followed for
recognition of Income & Expenses.
(b) Fixed Assets
The Fixed Assets are valued at cost of acquisition less accumulated
depreciation.
(c) Depreciation
Depreciation of all assets are provided on "Straight Line Method" at
the rate and manner prescribed in schedule XIV of the Companies Act,
1956.
(d) Tax on Income
Income Tax Expenses comprises current tax and deferred tax charge of
credit.
The deferred tax charge or credit is recognized using current tax
rates. When there is unabsorbed depreciation or carry forward losses,
deferred tax assets are recognized only if there is virtual certainty
of realization of such assets. Deferred tax assets/liabilities are
reviewed as at each balance sheet date based on developments during the
year to reassess realization/liabilities.
Mar 31, 2009
(A) System of Accounting : The Company has followed the mercantile
basis of accounting.
(B) Fixed Assests : Fixed Assets are stated at cost of acquisition less
accumulated depreciation.
(C) Depreciation : Depreciation on all assets are provided on" Straight
Line Method" at the rate and in the manner prescribed in Schedule XIV
of the Companies Act, 1956 as amended to date.
(D) Contingent Liability: Amount of contingent liabilities not provided
for in the accounts Rs. NIL (Previous period Rs. Nil).
(E) Estimated amount of contract remaining to be executed on capital
account and not provided for is Rs. Nil ( Previous year Rs. NIL).
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