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Moneycontrol.com India | Notes to Account > Finance - Housing > Notes to Account from Mehta Housing Finance - BSE: 511740, NSE: N.A
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Mehta Housing Finance
BSE: 511740|ISIN: INE239B01014|SECTOR: Finance - Housing
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Dec 11
Notes to Accounts Year End : Dec '12
1.  On the basis of information available with the Company, there is no
 amount due but remaining unpaid as on 31st December 2012 to any
 suppliers who is a small scale or ancillary industrial undertaking.
 
 2.  The requirement of Accounting Standard 22 Accounting for Taxes on
 Income have been considered and the management is of the opinion that
 no deferred tax assets/liability needs to be created.
 
 3.  As per Accounting Standard 22 issued by The Institute of Chartered
 Accountants of India during the year, due to the loss, the company has
 not provided taxation in Books of Account including deferred tax
 liability, as the company does not envisage any such liability in near
 future.
 
 4.  In the absence of the taxable income, no provision for taxation has
 been made U/s.115JB of The Income Tax Act. However, the tax-year end of
 the Company being 31/03/2012, the ultimate liability for the A.Y.-2013-
 14 will be determined on the total Income of the Company for the year
 ended 31/03/2013.
 
 5.  Corresponding figures of the previous year have been regrouped or
 restated to make them comparable with current year figures wherever
 necessary.
 
 6.  Unsecured Loans, Current Liabilities, Loans & Advances, Deposits
 and Sundry Debtors are subject to confirmation and adjustments, if any.
 
 7.  Segment Reporting:
 
 The company is engaged in Investment and hence management is of the
 opinion that it does not have a reportable primary segment identifiable
 in accordance with the Accounting Standard 17 issued by the Institute
 of Chartered Accountants of India.
 
 8.  Related Party Transactions:
 
 The Company has identified all the related parties as defined under
 Accounting Standard 18 Related Party Disclosure issued by the
 Institute of Chartered Accountants of India having transactions during
 the year, as per details given below. There were no amounts written off
 or written back from such parties during the year.
Source : Dion Global Solutions Limited
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