2.17 Provisions and contingencies

A provision is recognised when the Company has a present obligation as a result of past events
and it is probable that an outflow of resources will be required to settle the obligation in
respect of which a reliable estimate can be made.

The Company has not formulated any scheme like ESPOS

Note 37 :- Taxes on Income

The company has incurred loss during the year and theexpected -

results in near future is also not expected to be encouraging,
therefore taking a conservative approach, the management has
decided for not to recognise the deferred tax asset for the year,
worked out as per provisions of Accounting Standard (AS-22) of
the Act.

As per attached report of even date

For MM S & ASSOCIATES For KIRAN SYNTEX LTD.

CHARTERED ACCOUNTANTS For and on the behalf of the Board of

FRN : 110250W Director

Sd/- Sd /- Sd/- Sd/-

PRAMOD BOTHRA Maheshkumar Ami Jigar DaizyJain

PARTNER M. Godiwala Godiwala

M. NO. 42831 (Managing (Director and Company Secretary

Director.) CFO)

1003, Rathi Palace (DIN : 1779079) (DIN: 03019834)

Ring Road, Surat- 395002
DATE : May 29, 2024
PLACE : SURAT