(a). General:
 
 (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
 principles.
 
 (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.
 
 (e). Taxation:
 
 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.