(i) These accounts are prepared on the historical cost basis and on the
accounting principles of a going concern.
(ii) Accounting policies not specifically referred to otherwise are
consistent and in consonance with generally accepted accounting
(b): Revenue Recognition:
(i) Revenue from Internet is recognised on accural basis.
(ii) Other income comprises of Interest earned on Banks Deposit.
(c). Fixed Assets:
(i) Fixed assets are stated at cost less accumulated depreciation. Cost
of acquisition of fixed assets is inclusive of freight'' duties'' taxes
and incidental expenses thereto.
(d). Depreciation and Amortisation:
(i) Depreciation is provided on straight-line method on pro-rata basis
and at the rates and manner specified in the Schedule XIV of the
Companies Act'' 1956.
(ii) Preliminary Expenses are amortised over the period of 10 years.
(iii) Public Issue Expenses are amortised over the period of 10 years.
The current charge for income tax is calculated in accordance with the
relevant tax regulations applicable to the Company. Deferred tax asset
and liability is recognised for future tax consequences attributable to
the timing differences that result between the profit offered for
income tax and the profit as per the financial statements. Deferred tax
asset & liability are measured as per the tax rates/laws that have been
enacted or substantively enacted by the Balance Sheet date.
(I). Earnings Per Share:
The earning considered in ascertaining the company''s earning per share
comprises net profit after tax. The number of shares used in computing
basic earning per share is the weighted average number of shares
outstanding during the year (g). Gratuity:
No provision for gratuity has been made as no employee has put in
qualifying period of service for entitlement of this benefit.