| 1. SHARE CAPITAL
1.1 Terms and Rights attached to Equity Shares
The company has only one class of equity shares having face value per
share of Rs. 10 each. Each shareholder is entitled to one vote per
equity share. The dividend proposed by the board of directors is
subject to the approval of the shareholders in ensuing Annual General
Meeting, except in case of interim dividend. In the event of
liquidation, the Equity Share Holders are eligible to receive the
remaining assets of the company after distribution of all preferential
amounts, in proportion to their shareholding.
2. Contingent Liabilities and Other Commitments not provided for
[Rs. In Lacs]
PARTICULARS As at 31.03.2015 As at 31.03.2014
Contingent Liabilities - -
3. Current Tax Expense and Deferred Tax
Tax expense is the aggregate of current year tax and deferred tax
charged or credited to the profit and loss account.
i) Current tax is the provision made for the income tax liability on
the profits for the year in accordance with the applicable tax laws.
ii) Deferred tax is recognised on timing differences, being the
differences resulting from the recognition of items in the financial
statements and in estimating its current income tax provisions
iii) Deferred tax asset & liability are measured using the tax rates
and the tax laws that have been enacted or substantially enacted at the
balance sheet date.
As required by the accounting standard - 22, "Accounting for Taxes on
Income" issued by the Institute of Chartered Accountants of India,
Deferred Tax Liabilities and Assets is calculated and provided for in
the following manner.
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