Notes to Accounts of Shaival Reality Ltd.

Mar 31, 2025

(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: 1^st May, 2025 Sd/- Sd/-

Harshil R Desai Urvi Shah

Chief Financial Officer Company Secretary

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Mar 31, 2024

Current Tqx

Provision for current tax is recognised bated on estimated ta* liability

computed after adjusting for allowances, disallowances and

accordance with the Income Tan Act, 1961. —^v\

Urmii

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/perfod. 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 assets are retogniced when there ts reasonable certainty that
the asset can be realized in future, however, whEre there is unabsorfced
depreciation or carried forward loss undertaxation laws, deferred tax assets
are recognised to the extent there is virtual certainty of realljation of the
assets.

Deferred tax assets 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 realiled

(17) Ot he r Statute ry Info inflation:

The Company does not have anything to report in respect of the following:

* Benami properties

* Trad I ng or i n vestm ent i n crypto or vi rtu a I tu me n cy

* 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 MOTES

- The Company ha; not received intimation From "Suppliers" regarding their
status under Micro., Small and Medium Enterprise Development Act, 2006, and
hence, relevant disclosure* hsve Pot been given.

- Previous year''s figures have been re-grouped, re-classified and re-arranged
wherever necessary.

For, JJimin Dcliwala & Co.

Chartered Accountants
Firm Reg. No.0103861W

⁼^''^W-

Jaimin Deliwalu Mayur M Deial Mortal M DesaF Shalva I Wi Desai

Proprietor DIN:04143Q18 DIN:DO125704 DIIM:035S3S15

Membership No.: Q44529 Msnaging Director Director Director

JOIN: 24044529BKB2PS1939

Place: Ahmedab ad r . t

Date: 30^th April_p 2024 _

HaiSfifi Desal An kit a Shah

3^ ^{01 ief} Operati ng Office r Com pany Secrets ry

/f/*OWVfl i^L btl.

r U w«s»l«l

\y\^ VaraSa Bhachani

Chief Financial Officer

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Mar 31, 2015

1. The Company does not have accumulated losses at the end of the financial year. The Company has not incurred cash losses during the financial year covered by the audit and also in the immediately preceding financial year.

2. Based on our audit procedures and according to the information and explanations given to us, we are of the opinion that the Company has not defaulted in repayment of dues to financial institutions, banks and debenture holders.

3. The Company has not given guarantees for loans taken by others from banks and financial institutions.

4. The Company has raised new term loans during the year. The term loans outstanding at the beginning of the year and those raised during the year have been applied for the purposes for which they were raised.

5. In our opinion and according to the information and explanations given to us, no fraud by the Company and no material fraud on the Company has been noticed or reported during the year.

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Mar 31, 2014

1. Contingent liabilities not provided for in the Accounts: Rs. NIL

2. Estimated amount of contracts remaining to be executed on Capital Account: Rs. NIL

3. We have relied on internal evidences certified by management, in case where external evidences in respect of expenses are not available.

4. Trade Payables and Loans & Advances are subject to confirmations from parties and subject to reconciliation, if any.

5. In the opinion of Board of Directors, the aggregate value of the current asserts, on realization in the ordinary course of business, will not be less than the amount at which are stated in the form of balance sheet.

6. Previous year figures are regrouped wherever necessary.

7. During the year no amount was expended in the foreign currency and there was no earning in foreign currency.

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Mar 31, 2013

(2) NOTES ON ACCOUNTS

1. Contingent liabilities not provided for in the Accounts: Rs. NIL

2. Estimated amount of contracts remaining to be executed on Capital Account: Rs. NIL

3. We have relied on internal evidences certified by management, in case where external evidences in respect of expenses are not available.

4. Trade Payables and Loans & Advances are subject to confirmations from parties and subject to reconciliation, if any.

5. In the opinion of Board of Directors, the aggregate value of the current asserts, on realization in the ordinary course of business, will not be less than the amount at which are stated in the form of balance sheet.

6. Previous year figures are regrouped wherever necessary.

7. During the year no amount was expended in the foreign currency and there was no earning in foreign currency.

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Mar 31, 2012

1. Contingent liabilities not provided for in the Accounts: Rs. NIL

2. Estimated amount of contracts remaining to be executed on Capital Account: Rs. NIL

3. We have relied on internal evidences certified by management, in case where external evidences in respect of expenses are not available.

4. Trade Payables and Loans & Advances are subject to confirmations from parties and subject to reconciliation, if any.

5. In the opinion of Board of Directors, the aggregate value of the current asserts, on realization in the ordinary course of business, will not be less than the amount at which are stated in the form of balance sheet.

6. Previous year figures are regrouped wherever necessary.

7. During the year no amount was expended in the foreign currency and there was no earning foreign currency.

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Mar 31, 2011

(1). Contingent liabilities not provided for in the Accounts: - Rs. NIL.

(2). Estimated amount of contracts remaining to be executed on

Capital Account:- Rs. NIL

(3). We have relied on internal evidences, certified by Directors in case where external evidences are not available.

(4). Sundry Creditors. Loans and Advance are subject to confirmation from parties and subject to reconciliation, if any.

(5). In the opinion of Board of Directors, the aggregate value of the current assets, on realization in the ordinary course of business, will not be less than the amount at which they are stated in the balance sheet.

(6). Information required under part IV of Schedule V! of the Companies Act, 1956 is as per Annexure A.

(7). Previous year figures are regrouped whenever necessary.

(8). During the year no amount was expended in foreign currency and there was no earning in foreign currency.