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Bala Techno Industries

BSE: 514199|ISIN: INE653B01016|SECTOR: Textiles - General
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Bala Techno Industries is not listed on NSE
Mar 13
Accounting Policy Year : Mar '14
i.  The accounts are prepared on the historical cost basis and on the
 accounting principles of going concern.
 
 ii.  Accounting policies not specifically referred to otherwise are
 consistent and in consonance with generally accepted accounting
 principles.
 
 iii. All the items of expenses and income are accounted on accrual
 basis except dividend income.
 
 iv. The Fixed Assets of the company are valued at cost including
 related pre-operational expenses and interest up to the date these are
 put to use. In case of revaluation of fixed assets, the original cost
 as written up by the approved valuer is considered in the accounts and
 the differential amount is credited to revaluation reserve.
 
 v.  Depreciation on fixed assets has been provided on straight-line
 method at the rates prescribed in Schedule XIV of the Companies Act,
 1956 on Pro-rata basis.
 
 vi.  The inventories are valued at lower of cost or net realisable
 value.
 
 vii. The transactions in relation to Foreign Currency remaining
 unsettled at the end of the year are translated at year end rates and
 the Profit/Loss arising therefrom is taken to profit & loss account.
 Transactions in Foreign Currency are recorded in the books of account
 in rupees at the rate of exchange prevailing on the date of
 transaction.
 
 viii.  Contingent liabilities are not provided in the accounts but are
 disclosed by way of a note in ''Notes on Accounts''
 
 ix. Deferred revenue expenses are written off over a year of 10 years
 commencing subsequent to the year these are incurred.
 
 x.  Investments are accounted for at cost. Dividends are accounted for
 as and when received.
 
 xi.  State Capital investment subsidy is credited to capital reserve.
 
 xii. Provision for current tax is made on the assessable income at the
 tax rate applicable to the relevant assessment year. The Deferred tax
 Asset and Deferred tax Liability is calculated in terms of the
 Accounting Standard - 22 Accounting for taxes on income issued by the
 Institute of Chartered Accountants of India. Deferred tax Assets are
 recognised only if there is virtual certainty of its realisation,
 supported by convincing evidences.
 
Source : Dion Global Solutions Limited
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