Mar 31, 2015
A Method of accounting
These financial statements have been prepared in accordance with Indian
Generally Accepted Accounting Principles (GAAP) under the historical
cost convention on the accrual basis except where specified otherwise.
GAAP comprises accounting standards notified by the Central Government
of India u/s 211(3C) of Companies Act, 1956 and the relevant provisions
of the Companies Act, 1956 to the extent applicable. Accounting
policies not specifically referred to otherwise, are consistent and in
consonance with generally accepted accounting principles.
The Company has prepared these financial statements as per the format
prescribed by Revised Schedule VI to Companies Act, 1956 (the Schedule)
issued by Ministry of Corporate Affairs.
b Revenue recognition -
The Company recognizes its revenue and expenses on accrual basis.
c Income taxes
Income tax expenses comprises of current tax computed in accordance
with the relevant provisions of the Income Tax Act, 1961 and deferred
tax charge or credit.
Current tax provision is made based on the tax liability computed after
considering tax allowances and exemptions, in accordance with the
Income Tax Act, 1961.
Deferred tax charge or credit and the corresponding deferred tax
liability or asset is recognized for timing differences between the
profits/losses offered for income taxes and the profits/losses as per
the financial statements. Deferred tax assets and liabilities are
measure using tax rates and tax laws that have been enacted or
subsequently enacted at the balance sheet date
Deferred tax assets are recognized only if there is reasonable
certainty of realization of such assets in future. However, where there
is unabsorbed depreciation or carry forward loss under taxation laws,
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 and written down/up to reflect the amount that is
reasonably/virtually certain (as the case may be) to be realized.
d Earning per share:
Basic earnings per share is calculated by dividing the net profit for
the year attributable to the equity shareholders by the weighted
average of the number of equity shares outstanding during the year.
e Provisions, Contingent Liabilities and Contingent Assets
Provisions involving substantial degree of estimation in measurement
are recognized when there is a present obligation as a result of past
events and it is probable that there will be an outflow of resources.
Contingent liabilities, if any, are not recognized but disclosed by way
of notes to accounts. Contingent assets are neither recognized nor
disclosed in the financial statements.
Mar 31, 2014
The Financial statements have been prepared in accordance with the
requirement of Section 209(3)(b) of the Companies Act, 1956.
a Method of accounting
These financial statements have been prepared in accordance with Indian
Generally Accepted Accounting Principles (GAAP) under the historical
cost convention on the accrual basis except where specified otherwise.
GAAP comprises accounting standards notified by the Central Government
of India u/s 211(3C) of Companies Act, 1956 and the relevant provisions
of the Companies Act, 1956 to the extent applicable. Accounting
policies not specifically referred to otherwise, are consistent and in
consonance with generally accepted accounting principles.
The Company has prepared these financial statements as per the format
prescribed by Revised Schedule VI to Companies Act, 1956 (the Schedule)
issued by Ministry of Corporate Affairs.
b Revenue recognition -
The Company recognises its revenue and expenses on accrual basis.
c Income taxes
Income tax expenses comprises of current tax computed in accordance
with the relevant provisions of the Income Tax Act, 1961 and deferred
tax charge or credit.
Current tax provision is made based on the tax liability computed after
considering tax allowances and exemptions, in accordance with the
Income Tax Act, 1961.
Deferred tax charge or credit and the corresponding deferred tax
liability or asset is recognized for timing differences between the
profits/losses offered for income taxes and the profits/losses as per
the financial statements. Deferred tax assets and liabilities are
measure using tax rates and tax laws that have been enacted or
subsequently enacted at the balance sheet date Deferred tax assets are
recognized only if there is reasonable certainty of realization of such
assets in future. However, where there is unabsorbed depreciation or
carry forward loss under taxation laws, 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 and written down/up to reflect the amount that is
reasonably/virtually certain (as the case may be) to be realized.
d Earning per share:
Basic earning per share is calculated by dividing the net profit for
the year attributable to the equity shareholders by the weighted
average of the number of equity shares outstanding during the year.
e Provisions, Contingent Liabilities and Contingent Assets
Provisions involving substantial degree of estimation in measurement
are recognized when there is a present obligation as a result of past
events and it is probable that there will be an outflow of resources.
Contingent liabilities, if any, are not recognized but disclosed by way
of notes to accounts. Contingent assets are neither recognized nor
disclosed in the financial statements.
Mar 31, 2013
A Method of accounting
These financial statement have been prepared in accordance with Indian
Severalty Accepted Accounting Principles (GAAP under the historical
cost convention on the accrual basis except where specified otherwise.
GAAP comprises accounting standards notified by the Central Government
of India u/s 2ll(3C] of Companies Act. 1956 and the relevant provisions
of the Companies Act, 1956 to the extent applicable. Accounting
policies not specifically referred to otherwise, are consistent and in
consonance with generally accepted accounting principles. The Company
ha s prepay red these financial statements as per the format prescribed
by Revised Schedule VI to Companies Act. I956 (the Schedule) issued by
Ministry of Corporate Affairs. Previous periods figures have been
recast/restated to conform to the classification required by Revised
Schedule VI.
b Revenue recognition -
The Company recognizes its revenue and expenses on accrual basis.
c Income taxes
Income tax expenses comprises of current tax computed in accordance
with the relevant provisions of the Income Tax Act, 1961 and deferred
tax charge or credit. Current tax provision is made based on the tax
liability computed after considering tax allowances and exemptions, in
accordance with the income tax Act. 1961
Deferred tax charge or credit and the corresponding deferred tax
Gracility or asset is recognized for timing differences between the
profits/losses offered for income taxes and the profits/tosses as per
the financial statements- deferred tax assets and liabilities are
measure using tax rates and tax laws that have been enacted or
subsequently enacted at the balance sheet date
Deferred tax assets are recognized only if there is reasonable
certainty of realization of such assets in future. However, where there
is unabsorbed depreciation or carry forward Loss under taxation laws,
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 and written down/up to reflect
the amount that is reasonably/virtually certain (as the case may be)
to be realized.
d Earning per share:
Basic earnings per share is calculated by dividing the net profit far
the year attributable to the equity shareholders by the weighted
average of the number of equity shares outstanding during the year,
e Provisions, Contingent Liabilities and Contingent Assets
Provisions involving Substantial degree of estimation in measurement
are recognized when there is a present obligation as a result of past
events and it is probable that there will be an outflow of resources.
Contingent liabilities, if any, are not recognized but disclosed byway
of notes to accounts. Contingent assets are neither recognized nor
disclosed in the financial statements,
Mar 31, 2012
The Financial statements have been prepared in accordance with the
requirement of Section 209(3) (b) of the Companies Act' 1956.
a Method of accounting
These financial statements have been prepared in accordance with Indian
Generally Accepted Accounting Principles (GAAP) under the historical
cost convention on the accrual basis except where specified otherwise.
GAAP comprises accounting standards notified by the Central Government
of India u/s 211(3C) of Companies Act' 1956 and the relevant provisions
of the Companies Act' 1956 to the extent applicable. Accounting
policies not specifically referred to otherwise' are consistent and in
consonance with generally accepted accounting principles.
The Company has prepared these financial statements as per the format
prescribed by Revised Schedule VI to Companies Act' 1956 (the Schedule)
issued by Ministry of Corporate Affairs. Previous periods figures have
been recast/restated to confirm to the classification required by
Revised Schedule VI.
b Revenue recognition -
The Company recognises its revenue and expenses on accrual basis.
c Income taxes
Income tax expenses comprises of current tax computed in accordance
with the relevant provisions of the Income Tax Act' 1961 and deferred
tax charge or credit.
Current tax provision is made based on the tax liability computed after
considering tax allowances and exemptions' in accordance with the
Income Tax Act' 1961.
Deferred tax charge or credit and the corresponding deferred tax
liability or asset is recognized for timing differences between the
profits/losses offered for income taxes and the profits/losses as per
the financial statements. Deferred tax assets and liabilities are
measure using tax rates and tax laws that have been enacted or
subsequently enacted at the balance sheet date
Deferred tax assets are recognized only if there is reasonable
certainty of realization of such assets in future. However' where there
is unabsorbed depreciation or carry forward loss under taxation laws'
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 and written down/up to reflect
the amount that is reasonably/virtually certain (as the case may be) to
be realized.
d Earning per share:
Basic earning per share is calculated by dividing the net profit for
the year attributable to the equity shareholders by the weighted
average of the number of equity shares outstanding during the year.
e Provisions' Contingent Liabilities and Contingent Assets
Provisions involving substantial degree of estimation in measurement
are recognized when there is a present obligation as a result of past
events and it is probable that there will be an outflow of resources.
Contingent liabilities' if any' are not recognized but disclosed by way
of notes to accounts. Contingent assets are neither recognized nor
disclosed in the financial statements.
Mar 31, 2011
A Revenue recognition -
The Company recognises its revenue and expenses on accrual basis,
except for finance charges payable on deferred payment facilities and
interest payable on inter corporate deposits obtained.
b Retirement benefits :
The Company did not have any employees during the year ended March 31,
2011.
c Taxation :
Income tax expenses comprises of current tax and deferred tax charge or
credit. The deferred tax charge or credit is recognized using current
tax rates. Where there is unabsorbed depreciation or carry forward
losses, deferred tax assets are recognized only if there is virtual
certainty of realization of such assets. Other deferred tax assets are
recognized only to the extent there is reasonable certainty of
realization in future. Deferred tax assets/liabilities are reviewed as
at each Balance sheet date based on developments during the year and
available case law, to reassess realization/liabilities.
Mar 31, 2010
A. Revenue recognition -
The Company recognises its revenue and expenses on accrual basis,
except for finance charges payable on deferred payment facilities and
interest payable on inter corporate deposits obtained.
b. Retirement benefits :
The Company did not have any employees during the year ended March 31,
2010.
c. Taxation :
Income tax expenses comprises of current tax and deferred tax charge or
credit. The deferred tax charge or credit is recognized using current
tax rates. Where there is unabsorbed depreciation or carry forward
losses, deferred tax assets are recognized only if there is virtual
certainty of realization of such assets. Other deferred tax assets are
recognized only to the extent there is reasonable certainty of
realization in future. Deferred tax assets/liabilities are reviewed as
at each Balance sheet date based on developments during the year and
available case law, to reassess realization/liabilities.
3. Out of the issued and paid up capital of the Company,
a. 150000 equity shares of the face value of Rs 10 each have been issued
as fully paid up bonus shares by utilisation of Rs 1500000 from the
Profit and Loss Account during the year ended March 31, 1994
b. 1315550 equity shares of the face value of Rs 10 each have been
issued as fully paid up bonus shares by utilisation of Rs 13155500 from
the Profit and Loss Account during the year ended March 31, 1995
c. 1834450 equity shares of the face value of Rs 10 each have been
issued as fully paid up bonus shares by utilisation of Rs 18344500 from
the Revaluation Reserve during the year ended March 31, 1995
Mar 31, 2009
A Revenue recognition -
The Company recognises its revenue and expenses on accrual basis,
except for finance charges payable on deferred payment facilities and
interest payable on inter corporate deposits obtained.
b Retirement benefits :
The Company did not have any employees during the year ended March 31,
2009.
c Taxation :
Income tax expenses comprises of current tax and deferred tax charge or
credit. The deferred tax charge or credit is recognized using current
tax rates. Where there is unabsorbed depreciation or carry forward
losses, deferred tax assets are recognized only if there is virtual
certainty of realization of such assets. Other deferred tax assets are
recognized only to the extent there is reasonable certainty of
realization in future. Deferred tax assets/liabilities are reviewed as
at each Balance sheet date based on developments during the year and
available case law, to reassess realization/liabilities.
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