11. PROVISION FOR TAXATION
The company have a profit of Rs. 5065594- as per P&L After add back of depreciation, the
taxable income comes Rs. 2505492- on which Income Tax calculated @ 25% plus
surcharge @ 4% which comes Rs. 651428- which is lower side.
Book profit of the company is 5065594- on which MAT is calculated @ 15% which comes
Rs. 759839-. And cess @ 4% comes Rs. 30394- Total MAT comes to Rs. 790233- against
which an Advance Tax Rs. 500000- and TDS/TCS Rs. 72128- has already been deposited
and rest Rs. 218105- has to be deposited for which the provision has been made under the
head Provision.
NOTES TO THE ACCOUNTS
Additional information pursuant to the provisions of paragraph 3 & 4 [c] [d] of part II of
schedule VI of the Companies Act, 1956.
2. PARTICULARS OF OPENING & CLOSING STOCK & SALES
Opening stock Rs. 8070542.00
Closing stock Rs. 3002870.00
Sales Rs. 60068744.00
Note: Since the number of items of raw materials and finished goods are more than one
thousand, hence quantitative details are not given.
3. DETAILS OF RAW MATERIAL CONSUMPTION
As the number of raw materials are more than one thousand and none of them amount to
reasonable parts of total consumption, no item wise details of raw material consumption in
quantity has been given.
4. MANAGERIAL REMUNERATION PAID/PAYABLE DURING YEAR
a. Managing Director Tosh Kr.Jain Rs. 1200000/-
b. Director Monika Jain Rs. 600000/-
c. Director Arihant Jain Rs. 360000/-
5. A interest free Short Term loan of Ganga Corporation Pvt.Ltd. Rs. 100000- is outstanding
during the financial year 2023-2024.
6. Confirmation of balances of Sundry Debtors and Sundry Creditors appearing under the
heads current liabilities, current assets, capital work in progress and loans & advances are
still awaited except few parties.
The materials supplied to the Director (Ayush) Govt. of NCT of Delhi of Rs. 835800/- in FY
2022-23 which has been rejected by the department and the material destroyed in presence
of the officers of the department at Medical Pollution Control Committee, R.O.SMS Water
Grace, BMW Pvt. Ltd. Nazafgarh Road, Nilothi, Delhi Jal Board, New Delhi 110041 vide
their letter of dated 21.08.2023 and 20.10.2023.
7. Particular of Auditors remuneration -
Audit Fee Rs. 100000/-
8. Sundry Debtors / Creditors includes various amounts which are more than 45 days old and
no confirmation of the outstanding amount are available. Figures has been taken in such
heads as per the confirmation of the management of the co.
The classification of creditors as micro and small enterprise has been given for the parties
from whom the confirmation has been received regarding their classification as per MSMED
Act. There is no interest on delayed payment to such parties, if any, has neither been
determined nor has been paid as per verbal mutual understanding with the such parties.
9. There is no previous losses in the company. The company has profit during the year on
which Income Tax/MAT has to be deposited as per the computation of Income Tax.
10. EARNING PER SHARE Basic earnings per share is calculated by dividing the net profit for
the year attributable to equity shareholders by the numbers of equity shares outstanding
during the year.
11. BUSINESS INFORMATION
Based on the analysis of the company’s internal organization and management structure, the
management of the company has classified its business activities as “Manufacturing &
processing of Ayurvedic, Medicines Ayurvedic composit drug kits, dye kits & CHW kits”.
The company has not done manufacturing on job work basis during this year under audit.
12. DEFERRED TAX LIABILITY
Difference of Depreciation as per the Companies Act & as per I. Tax Act, has been add
back in the net profit of the company and then Tax has been calculated.
14. The company has taken Cash Credit Limit of Rs. 225.00 lacs from Axis Bank & availed Rs.
120.16 lacs approximately with interest during the year against the hypothecation of all type
of stocks and personal guarantee of the Directors. The company also has taken term loan
from Axis Bank Rs. 262.00 lacs for its new project which comes in production during the
financial year 2022-23 at Bhogpur and now the balance of term loan is Rs. 130.98 lacs
during the FY 2023-24.
15. There has been no prior period or extra-ordinary item of income or expenditure which has
been entered in the books of accounts during the year.
16. The company has received intimation from suppliers regarding their status under the Micro,
Small and Medium Enterprises Development Act, 2006 and hence, following disclosures
under the said Act have been shown as.
such date when the interest due as above are
actually paid to the small enterprises under
section 23 of Micro and Medium Enterprises
Development Act 2006. NIL NIL
17. Previous year figures have been regrouped / reclassified wherever necessary to correspond
with the current year’s classification / disclosure.
18 . Notes 1 to 18 form integral part of Balance Sheet and Profit & Loss account and have been
duly annexed.
FOR AND ON BEHALF OF
Sd/- ANIL JAIN & CO.
Tosh Kumar Jain CHARTERED ACCOUNTANTS
DIN: 01540363 Sd/-
(MANAGING DIRECTOR) [ ANIL KUMAR JAIN ]
PROPRIETOR
MEMBERSHIP NO. 070253
Sd/- PLACE: HARIDWAR
Monika Jain DATED: 28.05.2024
DIN: 03403491 UDIN: 24070253BKFVUU4007
(WHOLE-TIME DIRECTOR)
Sd/-
Sohini Bansal
COMPANY SECRETARY
Sd/-
Amit Kumar Singh
CHIEF FINANCIAL OFFICER
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