Accounting Policies of Infraquest International Ltd. Company

Mar 31, 2013

1. Basis Of Accounting :

The Financial Statements are prepared on the basis of going concern in accordance with the relevant presentation requirements of the companies Act, 1956 on accrual basis.

2 Fixed Assets:

Fixed Assets Valued at Cost

3. Depredation:

Depreciation has been provided on straight line method at the rates as per the manner seaside under Schedule XVI of the companies act, 1956.

4. Retirement Benefits:

Provisions for Provident Fund, Super annotation, pension and ESIC are not applicable to the company as number of employees are below statutory limit

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Mar 31, 2012

1. Basis Of Accounting:

The Financial Statements are prepared on the basis of going concern in accordance with the relevant presentation requirements of the companies Act, 1956 on accrual basis.

2. Fixed Assets:

Fixed Assets Valued at Cost

3. Depreciation:

Depreciation has been provided on straight line method at the rates as per the manner spedfied under Schedule XVI of the companies act, 1956.

4. Retirement Banefits:

Provisions for Provident Fund, Super annuation, pension and ESIC are not applicable to the company as number 1 of employees are below statutory limit

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Mar 31, 2011

1. Basis Of Accounting :

The financial statements are prepared on the basis of going concern in accordance with the relevant presentation requirements of Companies Act, 1956 on accrual basis.

2. Fixed Assets :

Fixed Assets are stated at Cost / Revalued Amount, including attributable interest and finance cost till such assets are put to use.

Revalued Cost : Capitalized less Depreciation accumulated till date.

Depreciation has been charged on the basis of the Residual Value of the assets concerned as:

All assets are depreciated on Straight Line Method as per the rates specified in Schedule XIV of the Companies Act, 1956 in respect of a addition / deletion made during the year.

3. Investments :

Long term investment are shown at cost. Provision for diminution is made only if, in the opinion on the management such a decline is other than temporary.

4. Borrowing Cost :

Borrowing Cost Attributable to acquisition and construction of assets are Capitalized as a part of the cost of such assets up to the date when such asset is ready for it Intended use. Other Borrowing costs are charged to profit & loss account (if any).

5. Retirement Benefits :

Provisions for Provident Fund, Super annotation, pension and ESIC are not applicable to the company as number of employees are below statutory limit.

6. Foreign Currency Transaction : Nil

7. Deferred Tax :

Deferred Tax is not recognized on timing difference, being the difference between the taxable income & accounting income that originate in one period & are capable of reversal in one or more subsequent period.

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Mar 31, 2010

1. Basis of Accounting:

The financial statements are prepared on the basis of going concern in accordance with the relevant presentation requirements of Companies Act, 1956 on accrual basis.

2. Fixed Assets :

Fixed Assets are stated at Cost / Revalued Amount, including attributable interest and finance cost till such assets are put to use.

Revalued Cost: Capitalized less Depreciation accumulated till date.

Depreciation has been charged on the basis of the Residual Value of the assets concerned as:

All assets are depreciated on Straight Line Method as per the rates specified in Schedule XIV of the Companies Act, 1956 in respect of addition / deletion made during the year.

3. Investments :

Investments are stated at Cost.

4. Borrowing Cost:

Borrowing Cost Attributable to acquisition and construction of assets are Capitalized as a part of the cost of such assets upto the date when such asset is ready for it Intended use. Other Borrowing costs are charged to profit & loss account (if any).

5. Foreign Currency Transaction : Nil

6. Deferred Tax :

Deferred Tax is not recognized on timing difference; being the difference between the taxable income & accounting income that originate in one period & are capable of reversal in one or more subsequent period.