(a) System of Accounting:
The Company adopts the accrual concept in preparation of accounts.
(b) Fixed Assets
Fixed Assets are valued at cost less accumulated depreciation.
(c) Depreciation/ Amortisation
Depreciation of Fixed Assets is provided on written down value method
at rates provided in Schedule XIV of the Companies Act, 1956 and
provided on pro-rata basis with reference to the date of purchase.
Depreciation is not charged on immovable properties held as investment.
Long term Investments are stated at cost.
(e) Provision for Current Tax and Deferred Tax
Provision for current tax is made after taking into consideration the
benefits admissible under the provisions of Income Tax Act, 1961.