(ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
B. The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the company shall
(i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or
(ii) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
21 Undisclosed income:
There are no transactions that were not recorded in the books of account, and which has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (43 of 1961).There is no previously unrecorded income and related assets have been recorded in the books of account during the year.
22 Details of Crypto Currency or Virtual Currency:
The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.
23 Disclosure of related parties/related party transactions pursuant to Accounting Standard (AS) - 18 “Related Party Disclosures”:
26 Employee Benefit (Incurred in India):
Gratuity - The Present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method. This method considers each period of service as giving rise to an additional unit of benefit entitlement and
measureseach unit separately to build up the final obligation.
Interest cost: It is the increase in the Plan liability over the accounting period resulting from the operation of the actuarial assumption of the interest rate.
Current Service Cost: is the discounted present value of the benefits from the Plan's benefit formula attributable to theservices rendered by employees during the accounting period.
Actuarial Gain or Loss: occurs when the experience of the Plan differs from that anticipated from the actuarial assumptions. It could also occur due to changes made in the actuarial assumptions.
The estimates of rate of escalation in salary considered in actuarial valuation, take into account inflation, seniority, promotion and other relevant factors including supply and demand in the employment market. The above information is certified by the actuary.
27 Cash Flow Statement:
(1) The amount of significant cash and cash equivalent balances held by the enterprise as at March 31, 2024 was Rs.16,74,423/-that are available for use by Company.
(2) The Company has appropriate amount of Cash Flows that are required to maintain operating capacity.
(3) Company is investing adequately in the maintenance of its operating capacity.
28 Changes in Accounting Estimates
There are no changes in Accounting Estimates made by the Company during the year.
29 Changes in Accounting Policie
There are no changes in Accounting Policies made by the Company during the year.
33 Balance shown under head Sundry debtors, creditors and advances are subject to confirmation.
34 Previous year’s figures have been regrouped / reclassified wherever necessary to correspond with current year’s classification.
30 Disclosures on PPE and Intangible Assets
I. Property, Plant and Equipment
(1) There is no restriction on the title of Property, Plant and Equipment, subject to only those which are under hypothecation/ charge.
(2) Company has no Impairment loss during the period for Property, Plant & Equipment.
(3) Assets are periodiacally checked for active usage and those which are retired are written off.
(4) There are no temporarily idle property, plant and equipment.
(5) Intangible asset is amortised as per Schedule II. 31
31 Segment Reporting:
The Company has considered the business segment as the primary reporting segment. The business segment have been identified on the basis of the nature of products and services, the risks and returns, internal organisation and management structure and the internal performance reporting systems. The Business segment comprises of dealing in Computer Hardware components, pheripheral devices, all kinds of electronic data processing equipments, providing in all kinds of software, including packaged & Customized software & Implement software solutions.
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