Saka Ltd. కంపెనీ అకౌంటింగ్ విధానాలు

1.1 BASIS OF ACCOUNTING

The accounts are prepared under the historical cost convention on accrual basis.

1.2 EXCISE DUTY

Sales are inclusive of excise duty.

Credit of ''CENVAT availed is adjusted towards cost of materials.

1.3 INVESTMENTS

Investments held by the company, which are long terms in nature, are stated at cost less permanent diminution in value

1.4 DEPRECIATION

No Depreciation has been charged since company does not have any Assets during the year.

1.5 CLAIMS

Accounted for on accrual basis / final settlement.

1.6 RETIREMENT BENEFITS

Since there is no employee at the year end the provisions regarding retirement benefits are not applicable.

1.7 TAXES ON INCOME

Deferred Tax is a recognized subject to the consideration of prudence, on timing difference, being the difference between taxable income and accounting difference that originate in one period and are capable of reversal in one or more subsequent periods. Deferred tax assets are not recognized on unabsorbed depreciation and carry forward losses unless there is a reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized.

a) Advances Recoverable Rs. 143.79 lacs (Previous period Rs. 121.31 lacs) from corporate companies for which no provision has been made as the confirmation of balances from the parties is not made available for our verification & as per analysis of their net worth, based on the financial statements available, the recovery of the amount is doubtful.

1.1 BASIS OF ACCOUNTING

- The accounts are prepared under the historical cost convention on accrual basis.

1.2 EXCISE DUTY

- Sales are inclusive of excise duty.

- Credit of ''CENVAT'' availed is adjusted towards cost of materials.

1.3 INVESTMENTS

- Investments held by the company, which are long terms in nature, are stated at cost less permanent diminution in value

1.4 DEPRECIATION

- No Depreciation has been charged since company does not have any Assets during the year.

1.5 CLAIMS

- Accounted for on accrual basis / final settlement.

1.6 RETIREMENT BENEFITS

- Since there is no employee at the year end the provisions regarding retirement benefits are not applicable.

1.7 TAXATION

- Deferred Tax is a recognized subject to the consideration of prudence, on timing difference, being the difference between taxable income and accounting difference that originate in one period and are capable of reversal in one or more subsequent periods. Deferred tax assets are not recognized on unabsorbed depreciation and carry forward losses unless there is a reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized.

1.1 BASIS OF ACCOUNTING

The accounts are prepared under the historical cost convention on accrual basis.

1.2 EXCISE DUTY

Sales are inclusive of excise duty.

Credit of 'CENVAT availed is adjusted towards cost of materials.

1.3 INVESTMENTS

Investments held by the company, which are long terms in nature, are stated at cost less permanent diminution in value

1.4 DEPRECIATION

No Depreciation has been charged since company does not have any Assets during the year.

1.5 CLAIMS

Accounted for on accrual basis/final settlement.

1.6 RETIREMENT BENEFITS

Since there is no employee at the year end the provisions regarding retirement benefits are not applicable.

1.7 TAXATION

Deferred Tax is a recognized subject to the consideration of prudence, on timing difference, being the difference between taxable income and accounting difference that originate in one period and are capable of reversal in one or more subsequent periods. Deferred tax assets are not recognized on unabsorbed depreciation and carry forward losses unless there is a reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized.

(1) BASIS OF ACCOUNTING

- The accounts are prepared under the historical cost convention on accrual basis.

(2) EXCISE DUTY

- Sales are inclusive of excise duty.

- Credit of 'CENVAT' availed is adjusted towards cost of materials.

(3) DEPRECIATION

- No Depreciation has been charged since company does not have any Assets during the year.

(4) INVESTMENTS

- Investments held by the company are stated at cost less permanent diminution in value

(5) CLAIMS

- Claims are accounted for on accrual basis / final settlement.

(6) RETIREMENT BENEFITS

- Since there is no employee at the year end the provisions regarding retirement benefits are not applicable.

(7) TAXATION

- Deferred Tax is a recognized subject to the consideration of prudence, on timing difference, being the difference between taxable income and accounting difference that originate in one period and are capable of reversal in one or more subsequent periods. Deferred tax assets are not recognized on unabsorbed depreciation and carry forward losses unless there is a reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized.

1. BASIS OF ACCOUNTING

The accounts are prepared under the historical cost convention on accrual basis.

2. EXCISE DUTY

Sales are inclusive of excise duty.

Credit of "CENVAT" availed is adjusted towards cost of material.

3. DEPRECIATION

No Depreciation has been charged since company does not have any Assets during the year.

4: INVESTMENTS

Investments held by the company are stated at cost less permanent diminution in value

5. CLAIMS

Claims are accounted for on accrual basis/final settlement.

6. RETIREMENT BENEFITS

Since there is no employee the provisions regarding retirement benefits are not applicable.

7. TAXATION

Deferred Tax is 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. Deferred tax assets are not recognised on unabsorbed depreciation and carry forward of losses unless there is virtual certainty with convincing evidence that sufficient future taxable income will be available against which such deferred tax assets can be realised.