a. Recognition of Income and Expenses :
The income and expenses are accounted on accrual basis. This is in
conformity with the provisions of Section 209 (3) of the Companies Act,
1956 as amended by the Companies (Amendment) Act, 1988.
b. Method of Depreciation :
The depreciation has been computed and provided on straight line basis
according to Section 205 (2) (b) of the Companies Act, 1956, at the
rates prescribed by Schedule XIV of the said Act, on a pro-rata basis
taking into consideration the month of addition/deduction.
d. Accounting of the Profit for the Projects :
Revenue is recognised only when Letter of Possession is issued to
the purchaser of flat, shop, bungalow, row house, plot etc.