Accounting Policies of Kedia Infotech Ltd. Company

Mar 31, 2011

1. The Financial Statements have been prepared under the historical cost convention ,n accordance with the generally accepted scrawling principles 2- All income and expenditure are generally accounted for on accrual basis.

2. Income from extra are generated from scheme called entrant fig cash. out of which membership fee is collected.

3. Fixed Assets are stated at historical cost less accumulated depreciation.

4. The retirement benefits are payable as per the internal rules of the company.

5. Provision for taxation has been made based on compilations as per the provisions of Income Tax Act.

6. Preliminary & public issue expenses have been treated as deferred revenue expenditure and are amortized as per law,

7. Confirmation of balances from Debtors, Creditors. Banks, Loans & Advances are yet to be received/reconciled in soma of the cases,

8. According to the explanations given to us, during the course of Audit Income Tax Dept. Have seized the bank Account of the company but company is carting the same balances of Books as it there at the time of size.

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Mar 31, 2010

1. The Financial Statements have been prepared under the historical cost convention in accordance with the generally accepted accounting principles.

2. All income and expenditure are generally accounted for on accrual basis.

3. Income from e-tran are generated from scheme called e-tran digi cash, out of which membership fee is collected.

4. Fixed Assets are stated at historical cost less accumulated depreciation.

5. Investments are stated at cost of acquisition inclusive of related expenses. No provisions has been made for diminution in the value of long term investments.

6. The retirement benefits are payable as per the internal rules of the company.

7. Provision for taxation has been made based on computations as per the provisions of Income Tax Act.

8. Preliminary & public issue expenses have been treated as deferred revenue expenditure and are amortised as per law.

9. Confirmation of balances from Debtors, Creditors, Banks, Loans & Advances are yet to be received/reconciled in some of the cases

10. According to the explaination given to us, during the course of Audit, Income Tax Dept. have seized the Bank Account of the company but company is carrying the same balances of Banks in the Books as it was there at the time of Seize.

12. Particulars relating to Foreign Exchange: Foreign exchange inflows -Nil

13. Previous year figures have been re-grouped/re-classified wherever necessary to conform to the current years classification.

14. The company has no sufficient information as to whether its suppliers constitute small scale industrial undertakings and, therefore, the amount due to such suppliers have not been identified.