Accounting Policies of AGS Infotech Ltd. Company

Mar 31, 2011

A. Accounting Convention:

The accounts have been prepared under the historical cost convention based on the principle of going concern and are consistent with the generally accepted Accounting Principles, unless otherwise stated.

b. Fixed assets and Depreciation thereon:

Fixed assets are stated at original cost less depreciation including other expenses relating to acquisition and installation.

Depreciation on fixed assets have been provided for the year on straight line method as per the depreciation rates specified in Schedule XIV of the Companies Act, 1956

c. Retirement benefits in respect of gratuity, superannuation and leave encashment are accounted on accrual basis.

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Mar 31, 2010

A. Accounting Convention:

The accounts have been prepared under the historical cost convention based on the principle of going concern and are consistent with the generally accepted Accounting Principles, unless otherwise stated.

b. Fixed assets and Depreciation thereon:

Fixed assets are stated at original cost less depreciation including other expenses relating to acquisition and installation.

Depreciation on fixed assets have been provided for the year on straight line method as per the depreciation rates specified in Schedule XIV of the Companies Act, 1956

c. Retirement benefits in respect of gratuity, superannuation and leave encashment are accounted on accrual basis.

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Mar 31, 2009

A) Accounting convention:

The accounts have been prepared under the historical cost convention based on the principle of going concern and are consistent with the generally accepted Accounting Principles, unless otherwise stated.

b) Fixed Assets & Depreciation thereon:

Fixed assets are stated at original cost less depreciation including other expenses relating to acquisition and installation.

Depreciation on fixed assets has been provided for the year on straight line method as per the depreciation rates specified in Schedule XIV of the Companies Act, 1956.

c) Retirement benefits in respect of gratuity, superannuation and leave encashment will be accounted whenever its due.

d) Preliminary expenses are amortised over a period of 10 years from the year of commencement of commercial activities.

1 Additional information required under Paragraph 3 and 4D of Part II of Schedule VI of Companies Act, 1956 - NOT APPLICABLE.

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Mar 31, 2007

A) Accounting convention:

The accounts have been prepared under the historical cost convention based on the principle of going concern and are consistent with the generally accepted Accounting Principles, unless otherwise stated.

b) Fixed Assets & Depreciation thereon:

Fixed assets are stated at original cost less depreciation including other expenses relating to acquisition and installation.

Depreciation on fixed assets has been provided for the year on straight line method as per the depreciation rates specified in Schedule XIV of the Companies Act, 1956.

c) Retirement benefits in respect of gratuity, superannuation and leave encashment will be accounted whenever its due.

d) Preliminary expenses are amortised over a period of 10 years from the year of commencement of commercial activities.

1. Additional information required under Paragraph 3 and 4D of Part II of Schedule VI of Companies Act, 1956 - NOT APPLICABLE.