J. Provision for Current and Deferred Tax
Provision for taxation is made on the basis of the taxable profits computed for the current accounting year in accordance with the provision contained in the Income-tax Act, 1961. Provision is also made for the deferred tax assets arising due to C/F losses & deferred tax liability arising due to the timing difference between profit computed as per the Income-tax and the financial statements. Net Deferred tax Assets resulting from the timing difference & losses are expected to crystallize in the future.
Note 31 In the opinion of the Board, Current Assets, Loans and Advances are approximately of the value stated in the Balance Sheet which would be realized in the ordinary course of business.
Note 32 The Board of Directors has waived off the board Meeting fees.
Note 33 Figures of the previous year have been regrouped / reclassified, wherever necessary to make them comparable with the figures under review.
Note 34 Segment Reporting as per AS-17 :-
a' The Organization been processor,importer,Supplier and Exporter of Chemical & Dyes used in the Painting and Textile Industry, which have similar risk and returns and also similar market conditions of
demand and supply. All other activities of the company revolve around the main business; as such there are inherent natures of these activities are governed by the same set of risk and returns; these have been grouped as a single segment. The company does not have any other reportable as defined under the Accounting Standard 17 (AS-17) for segment reporting.
Signature to Note No. 1 to 44 forming part of the Balance Sheet and Statement of Profit & Loss.
As per our audit report of even date.
As per our Report of even date For and on behalf of Board of Directors of
For Shambhu Gupta & Co. AMBANI ORGANICS LIMITED
FRN No.:- 007234C Chartered Accountants
CA. Rajkumar Khatod Mr. Rakesh Shah Mrs. Apooni Shah
Partner Director Director
Membership No. 133612 DIN No. 00503074 DIN No. 00503116
UDIN :- 23133612BGTRBC7215
Place :- Mumbai
Dated :- May 30th 2023 Mr. Bhavesh Pandya Ms. Richa Chokhani
Chief Financial Officer Company Secretary
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