The Company follows the mercantile system of accounting and recognises
income and expenditure on the accrual basis.
B. INVESTMENTS :
i) Long Term investments of the company are stated at their cost of
acquisition.
ii) Provision for diminution in the value of long term investments is
made only if, such a decline is other than temporary in the opinion of
the management.
C. SALES & PURCHASES :
Sales & Purchases are recognised net of returns.
D. TAXATION :
Current tax has been determined and provided as the amount of tax
payable in respect of taxable income for the year.
Mar 31, 2013
A. SYSTEM OF ACCOUNTING :
The Company follows the mercantile system of accounting and recognises
income and expenditure on the accrual basis.
B. INVESTMENTS :
i) Long Term investments of the company are stated at their cost of
acquisition. ii) Provision for diminution in the value of long term
investments is made only if, such a decline is other than temporary in
the opinion of the management.
C. SALES & PURCHASES :
Sales & Purchases are recognised net of returns.
D. TAXATION :
Current tax has been determined and provided as the amount of tax
payable in respect of taxable
i)income for the year.
ii) Deferred tax recognised, subject to the consideration of prudence,
on timing differences, being the difference between taxable income and
accounting income that originate in one period and are capable of
reversal in one or more subsequent periods.
Mar 31, 2012
A. SYSTEM OF ACCOUNTING :
The Company follows the mercantile system of accounting and recognises
income and expenditure on the accrual basis.
B. INVESTMENTS :
i) Long Term investments of the company are stated at their cost of
acquisition.
ii) Provision for diminution in the value of long term investments is
made only if, such a decline is other than temporary in the opinion of
the management.
C. SALES & PURCHASES :
Sales & Purchases are recognised net of returns.
D. TAXATION :
Current tax has been determined and provided as the amount of tax
payable in respect of taxable
i) income for the year.
ii) Deferred tax recognised, subject to the consideration of prudence,
on timing differences, being the difference between taxable income and
accounting income that originate in one period and are capable of
reversal in one or more subsequent periods.
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