Minimum Alternate Tax

Minimum Alternate Tax (MAT) paid in accordance with the tax laws, which gives future economic benefits in the form of adjustment to future income tax liability, is considered as an asset if there is convincing evidence that the Company will pay normal income tax. Accordingly, MAT is recognized as an asset in the Balance Sheet when it is probable that future economic benefit associated with it will flow to the Company.

Deferred Tax

Deferred tax is recognized on timing differences, being the differences between the taxable income and the accounting income that originate in one period and are capable of reversal in one or more subsequent periods. Deferred tax is measured using the tax rates and the tax laws enacted or substantially enacted as at the reporting date. Deferred tax liabilities are recognized for all timing differences. Deferred tax assets in respect of unabsorbed depreciation and carry forward of losses are recognized only if there is virtual certainty that there will be sufficient future taxable income available to realize such assets. Deferred tax assets are recognized for timing differences of other items only to the extent that reasonable certainty exists that sufficient future taxable income will be available against which these can be realized. Deferred tax assets and liabilities are offset if such items relate to taxes on income levied by the same governing tax laws and the Company has a legally enforceable right for such set off. Deferred tax assets are reviewed at each Balance Sheet date for their reliability. Current and deferred tax relating to items directly recognized in equity is recognized in equity and not in the Statement of Profit and Loss.

1. Related Party Disclosures

As required under Accounting Standard 18 “Related Party Disclosure”, following are the details c transactions during the year with the related parties of the Company as defined in AS 18 :

a) Key Management Personnel

Mr. Krishan Khadaria Director

Mr. Manoj Bhatia Director

Mr. Tarun Keram Director

Ms. Madhumati Gawade Director

Ms. Parvati Nirban Director

b) Shareholder's of the company Mr. Krishan Khadaria

c) Name of the enterprises having same Key Management Personnel and/or their relatives as the reporting enterprises:

Nouveau Shares & Securities Limited

Nouveau Global Ventures Limited

Attribute Shares & Securities Private Limited

Forever Flourishing Finance and Investment Private Limited

Golden Medows Export Private Limited

Hilton Vyapar Private Limited

Kashish Multitrade Private Limited

Kasturi Overseas Private Limited

Laxmiramuna Investments Private Limited

Bhaskar Realty Private Limited

Navyug Telefilm Private Limited

Slogan Infotech Private Limited

Keemaya Housing Finance Private Limited

Pearl Arcade Consultant Private Limited

Pearl Arcade Property Developers Private Limited

Mukta Agriculture Limited

Rajat Commercial Enterprises Pvt. Limited

Thai Malai Golf Resort & SPA Private Limited

K. K. Khadria & Co.

Khadaria & Associates Global Enterprises

d) Transactions with the enterprises out of (c ) above:

Nouveau Globa Ventures Limited Laxmiramuna Investments Private Limited Bhaskar Realty Private Limited Pearl Arcade Property Developers Private Limited Mukta Agriculture Limited

2. Segment reporting (AS - 17):

The Company is mainly engaged in trading in Computer hardware & other Electronic Products and also engaged in business of Tele-Shopping. All activities of the company revolve around this main business. As such there are no separate reporting segments as per the Accounting Standard on Segment Reporting (As 17).