1. Confirmation of debit & credit balances
Debit and credit balances of sundry creditors, sundry debtors, loans and advances to the extent n ot confirmed are subject to confirmation and reconciliation with the parties as at March 31, 2016.
2. Value of current assets loans and advances
In the opinion of the management, current assets, loans and advances have a value on realization in the normal course of business not less than the value at which they are stated in the Balance Sheet.
3. Adjustment of Tax deducted at source and MAT Credit from provision for Current Tax will be made after preparing the income tax return.
4. Depreciation on tangible assets is provided on the reducing balance method over the useful lives of assets estimated by the Management. Depreciation for assets purchased / sold during the period is proportionately charged. Intangible assets are amortized over their respective individual estimated useful lives on a reducing balance method, commencing from the date the asset is available to the Company for its use.
5. Store & Space consumption has been grouped under Material consumption.
6. Previous year's figures
Previous Years figures have been recasted / regrouped / reclassified, whenever considered necessary.
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