Mar 31, 2015
(1) The Accounts are prepared on an accrual basis except otherwise
stated and under the historical cost conventions, and are in line with
the relevant laws as well as the guidelines prescribed by the
Department of Company affairs and the Institute of Chartered
Accountants of India.
(A) SYSTEM OF ACCOUNTING: The Company has adopted the accrual basis of
accounting in the Preparation of the books of accounts.
(B) REVENUE RECOGNITION: All income is accounted for on accrual basis.
(C) EXPENSES: It is Company's policy to account of expenses on accrual
basis.
(D) TAXATION: Provision for current tax is made in the accounts on the
basis of estimated tax liability per the applicable provisions of the
Income Tax Act, 1961. There is no timing difference. Hence, deferred
tax liability/assets have not arisen during the year.
(E) INVENTORIES: Inventories are valued at lower of cost and net
realizable value. In determining cost FIFO method is used.
(F) FIXED ASSETS & DEPRECIATION.: Fixed Assets are stated at cost of
acquisition less accumulated depreciation and is inclusive of freight,
taxes, and incidental expenses relating to such acquisition.
Depreciation on Fixed Assets is provided on WDV method at the rates
prescribed in Income Tax act 1961.
(G) INVESTMENTS: Investments are valued at cost.
(H) RETIREMENT BENEFITS: Provision of Gratuity is not applicable to the
company.
Mar 31, 2014
(1) The Accounts are prepared on an accrual basis except otherwise
stated and under the historical cost conventions, and are in line with
the relevant laws as well as the guidelines prescribed by the
Department of Company affairs and the Institute of Chartered
Accountants of India.
(A) SYSTEM OF ACCOUNTING: The Company has adopted the accrual basis of
accounting in the Preparation of the books of accounts.
(B) REVENUE RECOGNITION: All income is accounted for on accrual basis.
(C) EXPENSES: It is Company''s policy to account of expenses on accrual
basis.
(D) TAXATION: Provision for current tax is made in the accounts on the
basis of estimated tax liability per the applicable provisions of the
Income Tax Act, 1961. There is no timing difference. Hence, deferred
tax liability/assets have not arisen during the year.
(E) INVENTORIES: Inventories are valued at lower of cost and net
realizable value. In determining cost FIFO method is used
(F) FIXED ASSETS & DEPRECIATION.: Fixed Assets are stated at cost of
acquisition less accumulated depreciation and is inclusive of freight,
taxes, and incidental expenses relating to such acquisition.
Depreciation on Fixed Assets is provided on WDV method at the rates
prescribed in Income Tax act 1961.
(G) INVESTMENTS: Investments are valued at cost.
(H) RETIREMENT BENEFITS: Provision of Gratuity is not applicable to the
company.
Mar 31, 2013
(A) SYSTEM OF ACCOUNTING: The Company has adopted the accrual basis of
accounting in the Preparation of the books of accounts
(B) REVENUE RECOGNITION: All income is accounted for on accrual basis.
(C) EXPENSES: It is Company''s policy to account of expenses on accrual
basis.
(D) TAXATION: Provision for current tax is made in the accounts on the
basis of estimated tax liability as per the applicable provisions of
the Income Tax Act, 1961. There is no timing difference. Hence,
deferred tax liability/assets have not arisen during the year.
(E) INVENTORIES: Inventories are valued at lower of cost and net
realizable value. In determining cost FIFO method is used.
(F) FIXED ASSETS & DEPRECIATION.: Fixed Assets are stated at cost of
acquisition less accumulated depreciation and is inclusive of freight,
taxes, and incidental expenses relating to such acquisition.
Depreciation on Fixed Assets is provided on WDV method at the rates
prescribed in Income Tax act 1961.
(G) INVESTMENTS: Investments are valued at cost.
(H) RETIREMENT BENEFITS: Provision of Gratuity is not applicable to the
company.
(I) Basic and Diluted Earnings per share (EPS) computed in accordance
with Accounting Standard (AS).20
Mar 31, 2010
A. The company follows the accrual system of accounting in respect of
ail income and expenditure except dividend which is accounted on
receipt basis,
B. Fixed assets are valued at cost and depreciation is provided on
written down value method as per rates prescribed under Income Tax Act
1961
C. Inventories are valued at cost.