22.05 Appropriate Income Tax Provision made for Income tax liability during the year.
22.06 Disclosure required under section 22 of the Micro, Small and Medium Enterprises Development Act, 2006. At the year end, company has requested status as a Micro, Small & Medium Enterprises from all of their suppliers but only few suppliers intimated to the company about its status as a Micro, Small & Medium Enterprises or its registration under the Micro, Small & Medium Enterprises Development Act, 2006.
Note:
(i) No amount has been provided for as doubtful debt. Also no amount has been written off/back during the year.
(ii) Related parties are as identified by the Management and relied upon by the Auditors.
Note 23: Gratuity
Under the gratuity plan, every employee who has completed at least five years of service gets a gratuity on departure @ 15 days of last drawn salary for each completed year of service. The scheme is unfunded.
Note 24: Balance confirmations
In respect of the balance confirmations sought for by the company from its debtors and creditors, very few parties have responded to the request. As such, balances in the accounts of debtors, creditors, advances and deposits are taken as appearing in the accounts.
Note 25: Information about Business Segments
The Company has identified and initiated segment reporting from the FY 2024-25 and accordingly the Segment Report for half year ended 30th September 2024 and half year and year ended 31st March 2025 is presented hereby in accordance with AS-1 7.
Note 26: Previous year figures.
Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.
Note 27: Rounding Off
As per the amendment notification for Schedule III dated 27th March 2021 it is now mandatory for every company to round-off the figures appearing in financial statements. Since the turnover of the company is less than 100 crores, the figures in financial statements have been rounded off to the nearest thousand.
Note 28: Others:
As on March 31st, 2025, the Company has one Wholly-owned Subsidiary - Mindpool Technologies INC.
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