(13) BORROWING COSTS
Those borrowing costs that are attributable to the acquisition or construction
of qualifying assets have to be capitalized as part of the cost of such assets. A
qualifying asset is one that necessarily takes substantial period of time to get
ready for its intended use. All other borrowing costs have to be charged to
the Profit and Loss Statement in the period in which they are incurred. The
company has not incurred any borrowing cost in regard to qualifying assets
and thus all borrowing cost incurred during the period are charged to the
Profit and Loss Statement.
(14) FOREIGN CURRENCY TRANSACTIONS
During the period under consideration no amount was remitted in foreign
currency on account of traveling expenditure and no amount was remitted
on account of dividend and there was no earning in foreign currency.
(15) SEGMENT REPORTING
According to AS 17 segment information needs to be presented only in case
of consolidated financial statements. As more than 90% of the revenue,
Profit and assets belong to one segment (i.e. Renting Segment), the details
are not required to be provided.
(16) TAXATION
Tax expense comprises of current tax (i.e. amount of tax for the year
determined in accordance with the Income Tax Act, 1961), and deferred tax
charge or benefit (i.e. reflecting the tax effect of timing differences between
accounting income and taxable income for the year).
Current Tax
Provision for current tax is recognized based on estimated tax liability
computed after adjusting for allowances, disallowances and exemptions in
accordance with the Income Tax Act, 1961.
Deferred Tax
Deferred income tax reflect the current period timing differences between
taxable income and accounting income for the period and reversal of timing
differences of earlier years/period. Deferred tax assets and liabilities are
measured using the tax rates and tax law that have been enacted or
substantively enacted by the Balance Sheet date.
Deferred tax liability are recognized when there is reasonable certainty that
the liability can be realized in future, however, where there is unabsorbed
depreciation or carried forward loss under taxation laws, deferred tax liability
are recognized to the extent there is virtual certainty of realization of the
liability.
Deferred tax liabilities are reviewed as at each balance sheet date and
written down or written up to reflect the amount that is reasonably/virtually
certain, as the case may be, to be realized.
(17) Other Statutory Information:
The Company does not have anything to report in respect of the following:
• Benami properties
• Trading or investment in crypto or virtual currency
• Giving/receiving of any loan or advance or funds with the understanding
that the recipient shall lend, invest, provide security or guarantee on
behalf of the Company/funding party
• Transactions not recorded in books that were surrendered or disclosed as
income during income-tax assessment
• Charges or satisfaction not registered with ROC beyond statutory period
• Title deeds in respect of freehold immovable properties not being held in
the name of the Company.
• Transactions with struck-off companies
• Non-compliance with number of layers as prescribed under the
Companies Act, 2013, read with Companies (Restriction on number of
Layers) Rules, 2017.
OTHER NOTES
The Company has not received intimation from "Suppliers" regarding their
status under Micro, Small and Medium Enterprise Development Act, 2006, and
hence, relevant disclosures have not been given.
Previous year's figures have been re-grouped, re-classified and re-arranged
wherever necessary.
For, Jaimin Deliwala & Co.
Chartered Accountants
Firm Reg. No. 0103861W
Sd/- Sd/- Sd/-
Jaimin Deliwala Mayur M Desai Shaival M Desai
Proprietor DIN: 00143018 DIN: 03553619
Membership No.: 044529 Managing Director Director
UDIN: 25044529BMIMJO1091
Place: Ahmedabad
Date: 1st May, 2025 Sd/- Sd/-
Harshil R Desai Urvi Shah
Chief Financial Officer Company Secretary
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