Schedule Vi

Balance Sheet as on 31.3.07

PARTICULARS SCH 31-3-07 31-3-06

SOURCES OF FUNDS

Share Capital 1 - -

Reserves & Surplus 2 - -

Loan Funds 13 - -

GRAND TOTAL - -

APPLICATION OF FUNDS

Fixed Assets 3

Gross Block - - Less : Accumlated Depreciation - - Net Block - -

Investments 11 - -

Current assets, Loans & Advances

Interest accrued on InvestmentsStores & Spare partsLoose ToolsInventories 7 - - Work In Progress - - Sundry Debtors 4 - - Cash & Bank Balances 6 - - Deposits - - Loans & Advances 5 - -

( A ) - -

LESS : CURRENT LIABLITIES & PROVISIONS

Current Liablities

Sundry Creditors 9 - - Acceptances - - Advances Recieved - - Investor Education and Protection Fund 14 - - Interest Accrued but not due - -

Provisions

Porposed Dividend - - For Taxation - - For Losses in Subsidary Companies - - For Contingencies - - For Providend Fund Scheme - - Other Provisions - -

( B ) - -

NET CURRENT ASSETS ( A ) - ( B ) - -

MISCELLANEOUS EXPENDITURE

ABC:To be added to Cost once the plant or construction is over.

Preliminary Expenses - - Commission / Brokerage in Underwriting of Shares - - Discount on Issue of Shares / Debentures - - Interest on Capital during Construction U/S 208 - - Other Capital Expenses - -

- -

GRAND TOTAL - -

As per our Report of even date AnnexedFor Raj & SubramanianChartered Accountants

Partner

Place : Chennai Director Director Date :

ABC:To be added to Cost once the plant or construction is over.

A79

ABC: To be added to Cost once the plant or construction is over.

Profit & Loss account for the year ended 31-3-07

PARTICULARS SCH 31-3-07 31-3-06

( A ) INCOME

Sales - -

Other Income 10 - -

Total A - -

( B ) EXPENDITURE

Cost of Goods Sold 7 - -

Production Overheads 9 - -

Administration & Selling Expenses 8 - -

Depreciation & Amortisation 3 - -

Finance & Interest Charges - -

Total B - -

Net Profit / ( Loss ) Before Tax ( A ) - ( B ) - -

Provision for Taxation - - Provision for FBT - -

Net Profit available for Appropriation - -

Less : Transfer to Reserves

For Repayment of Share Capital - - For Repayment of Loans - - For Other Reserves - -

Add : Reserves Written Back

Share Capital Repayment Reserve - - Loan Repayment Reserve - - Other Reserves - -

Profits Carried to Balance Sheet - -

As per our Report of even date AnnexedFor Raj & SubramanianChartered Accountants

Partner

Place : Chennai Director Director Date :

SCHEDULES FORMING PART OF BALANCE SHEET

Particulars 31-3-07 31-3-06

SCH : 1 : SHARE CAPITAL

Authorised Capital

250000 Equity Shares of Rs 10/- each - - Less : 200000 un issued Equity shares of Rs 10/- each - -

Issued Capital

50000 Equity Shares of Rs 10/- each - - Less : 5000 shares Unsubscribed - -

Subscribed Capital

45000 Equity Shares of Rs 10/- each - - Less : Uncalled to Extent of Rs 8/ each - -

Called up Capital

45000 Equity Shares of Rs 2/- each - - Less : Calls Un paid - - Add : Share Forfieted - -

Paid Up Capital

- -

SCH : 2 : RESERVES AND SURPLUS

Profit and Loss account

Opening balance - - (+) Net Profit For the current year - - (-) Proposed Dividends - - (-) Interim Dividends - -

- -

Capital Redemption Reserve

Opening Balance - -

(+) Current Year Transfer - - (-) Written Back in Current Year - -

Closing Balance - -

Share Premium Account

Opening Balance - - Add : Share premium credited on Share issue - - Less : Premium Utilised for various reasons

Premium on Redemption of Debentures - - For Issuing Bonus Shares - - For Adjusting with P&L Debit Balance - -

- -

Loan Redemption Reserves

Opening Balance - -

(+) Current Year Transfer - - (-) Written Back in Current Year - -

Closing Balance - -

General Reserves

Opening Balance - -

(+) Current Year Transfer - - (-) Written Back in Current Year - - (-) Proposed Dividends - - (-) Interim Dividends - -

Closing Balance - -

Other Reserves - -

- -

SCH : 5 : LOANS & ADVANCES:

Advances

Directors Current Account - - Rent Advance - - Salary Advance - - To Subsidary Companies - - To Partnership firms in which company or its subsidary is a partner - - Bills of Exchange - - Balances with Customs & Port Trust - -

Deposits

Sales Tax Deposit - - Other Deposits - -

- -

SCH : 6 : CASH & BANK BALANCES :

Cash In hand - - Bank Balance In XYZ Bank - Current Account (Maximum Outstandig during the year is Rs xxx) - - In XYZ Bank - Call Accounts (Maximum Outstandig during the year is Rs xxx) - -

- -

SCH : 9 : SUNDRY CREDITORS

Creditors for Expenses

Audit Fees Payable - - Directors Remuneration - - Rent Payable - - Salaries Payable - -

Other Creditors

Mr X - - Mr Y - - Mr z - -

- -

SCH : 11 : INVESTMENTS

Investments in Government Securities

Security 1 - - Security 2 - -

Investments in Shares

Fully paid up Shares

In Fully paid Equity Shares (Current Market Value of Rs XXX) - - In Fully paid Preference Shares (Current Market Value of Rs XXX) - -

Partly Paid up Shares

In Partly paid Equity Shares (Current Market Value of Rs XXX) - - In Partly paid Preference Shares (Current Market Value of Rs XXX) - -

Investments in Debenture and Bonds

15% Debentures of XYZ Ltd - - 13 % Bonds of ABC Ltd - -

Investments in Immovable Property

Property at xxx - - Property at ABC - -

Investment in Partnership Firms

IN Capital of ABC Ltd - - IN Capital of XYZ Ltd - -

Balance of Un utilised money Advanced for Acquiring Security - -

- -

SCH : 13 : LOAN FUNDS

Secured Loans (Inclusive of Interest thereon)

13 % Debentures Redeemable at Rs 105/- on 31-8-08 secured by xxxx - - Bank Loans secured by xxx - - Loans From Directors secured by xxx - - Loans from Subsidary Companies secured by xxx - - Loans Gaurenteed by Mr X , the Director - -

Un Secured Loans (Inclusive of Interest thereon)

Fixed Deposits - -

Loans and Advances from Subsidary Companies - -

Short Term Loans & Advances from Banks Tamil Nadu Mercantile Bank Current Account - - State Bank Of India - Cash Credit Account - -

Other Loans and Advances - -

- -

SCH : 14 : INVESTOR EDUCATION AND PROTECTION FUND

On Unpaid Dividend - - On Application Money received and refund not collected - - On Unpaid Matured Deposits - - On Interest on the above - - On Unpaid Matured Debentures - - On Interest on the above - -

- -

SCH : 4 : SUNDRY DEBTORS

A - - B - - C - - Others - -

- -

Debtors less than 6 months - - Debtors more than 6 months - - Less : Provisions - -

- -

Debts Considered good with security - - Debts Considered good without Security - - Debts considered Doubtful / bad - -

- -

Debts due from Directors / Officers - - Debts due from M/s XYZ where Mr A the director is partner - - Debts due from XYZ (P) Ltd where Mr A is the director - - Debts due from Companies With Same management u/s 370 - - Other Debts - -

- -

The Maximum Amount due by directors during the year are as follows

1. Mr A - - 2. Mr B - -

SCHEDULES FORMING PART OF PROFIT & LOSS A/C

Particulars 31-3-07 31-3-06

SCH : 7 :COST OF GOODS SOLD :

Opening Stock - -

ADD : Purchases - - Cold Storage - - Chemicals - - Consumption of Raw Materials - - Dry Ice - - Packing Materials - - Freight Charges - - Transportation Charges - -

- - - - - -

SCH : 8 : ADMINISTRATIVE & SELLING EXPENSES :

Advertisement - - Annual Gifts - -

Auditos Remuneration

Auditors Fees towards Audit - - Auditors Fees towards Consultation - - Auditors Fees towards Expenses reimbursement - -

Bad Debts - - Bonus - - Business Promotion Expenses - - Clearing & Forwarding - -

Commission To Sole Selling Agents - - To Other Selling Agents - - To Manging Agents other than Directors - - To Others - -

Compensation and Damages paid

On Account of Law Suits - - Other Voluntary Compensation paid - -

Computer Repairs & Maintenance - - Contribution to Providend Fund - - Conveyance - - Deferred Revenue Expenditure W/o - - Discount on Sales - -

Directors Remuneration

Fixed Remuneration - - Commission to Managers as a Percent of profits - -

Donation - - Electricity Charges - - Entertainment Expenses - - Export Freight - - Incentives - - Insurance - -

Interest On Company's Debenture / Loan To Managing Director / Managing Agents / Director / Seceretary - - To Others - -

Legal Fees - - Loading Charges - - Market Survey Expenses - - Medical Reimbursement - - Misc Expenses - - Monitoring Fees - - Office Maintenance - - Office Welfare - - Packing Materials - - Postage & Telegrams - - Preliminary Expenses Written Off - - Processing Charges - - Printing & Stationery - - Quotation Charges - - R & D Expenses - -

Rates & Taxes Income Tax in India - -

LESS : Closing Stock

Other Indian Taxes (Please Specify the names) - - Taxes paid other than in India - - Taxes on Excess or Abnormal Profit as notified by Central Govt. - -

Registration Fees - - Rent - - Repairs & Maintenance - - Retainer Fees - - Salaries - - Security Charges - - Service Charges - - Staff Welfare Expenses - - Storing Charges - - Subscription - - Telephone Charges - - Tour Expenses - - Travelling Expenses - - Tsunami Relief Fund - - Uniform - - Vehicle Maintenance - -

- -

SCH : 9 : PRODUCTION OVERHEADS

Consumption of Raw Materials - - Consumption of Stores & Spares - - Power & Fuel - - Labour Expenses - - Factory Rent - -

- -

SCH : 10 : OTHER INCOME

Income From Investments - -

From Trade Investments - - From Non Trade Investments Dividend income From Subsidary Companies - - Dividend income From Other Companies - -

Profit on Sale of Investments - - Loss on Sale of Investments - -

Other Income - -

- -

NOTES TO PROFIT AND LOSS ACCOUNT

1. Managerial Remuneration

The Remuneration paid / payable to the various Managers and Directors U/S 198 of the Indian Companies Act

PAID TO

Mr. X (Managing Director) Mr. Y(Managing Agent) Mr. Z (Seceretary & Treasurer)

Total

Other Remunerations

Pensions Provisions Gratuity Provisions Payments from Providend fund in excess of own Subscription Interest on the above

2. Perquisites NATURE OF PERQUSITE

Total

3. Value of Imports during the year at CIF Value are as follows

RAW MATERIALS

Product 1 Product 2 Product 3

Total

SPARES AND STORES


Total

CAPITAL GOODS


Total

4. The following expenditure were incurred in Foreigh currency during the year

Expenditure

Royalty Know How acquisition Professional fees & Consultation fees Interest Other Expenses

Total

5. Amount Remitted in Foreign Currency during the year are as follows

-

6. The Following earnings were received in foreign currency during the year

Date Particulars

- Export of Goods (FOB) Value - Royalty - Know How - Professional & Consultation Fees - Interest and Dividend - Other Income

Total

7. Dividend Details

Dividends Proposed to be Paid during the year Less : TDS Deductable on the above Net Dividend Payable during the succeeding year

Net Dividends Paid during the year TDS on the Above

Total dividends Paid during the year

8. Profits U/S 349 and Calculation of Commission to Managing Agents

PARTICULARS

Net Profit Earned During the year

Add :

Income Tax Provided Super Tax Payable if Included in other Indian Taxes in Schedule Directors Remuneration Voluntary Damages paid otherwise than by way of Legal liablity

Less :

Excess of Expenditure over income in computation of profits under this section of previous year(s)

Other Profits of Capital Nature considered in P&L Account due to accounting policy

Profits U/S 349 of Companies Act

REMUNERATION DETAILS

Maximum Remenuration To Managing Agents other than Directors being an employee

Ceiling on a Director on Per Head Basis for WHOLE TIME DIRECTORS / MD Ceiling on a Director on Over - all Basis for WHOLE TIME DIRECTORS / MD

Ceiling on DIRECTORS OTHER THAN WTD's / MD's

If the company contains WTD / MD If the company does not contain WTD / MD

Other Commission based on Net profits (Sec 349 is compulsory)

To Mr X To Mr Y

ABC:Bought forward sec 349 loss

D121

ABC: Bought forward sec 349 loss

NOTES TO BALANCE SHEET

Sl No Contingent Liablities

1 Claims against the company not acknowledged as Debts 2 Uncalled Liablity on shares Partly paid up 3 Arrears of Fixed Cumulative Dividends 4 Estimated Amount of Contract remaining to be executed of capital Nature and

Not Provided for 5 Other Contingent Liablities

NOTES TO PROFIT AND LOSS ACCOUNT

AMOUNT

- -

-

- - - -

PROVIDED TO VALUE THEREOF

- - - -

- -

CIF VALUE

- - -

-

CIF VALUE

- - -

-

CIF VALUE

- - -

-

Amount Currency

- - - - - - - -

- -

-

Amount in Foreign Amount recorded Currency in Books

- - - - - - - - - - - -

- -

- - -

- -

-

AMOUNT AMOUNT

-

- - - - -

-

- -

-

ACTUAL AMOUNT MAXIMUM CEILING

- - - -

- - - -

- NA - NA

ABC:To be keyed in since formula will lead to circular ref

F106

ABC: To be keyed in since formula will lead to circular ref

NOTES TO BALANCE SHEET

- - - - - -

VICTORIA FRESH SEAFOODS ( P ) LTD 3, 3RD FLOOR, GOKUL ARCADE NO 2, SP ROAD, CHENNAI - 20

Calculation of FBT for the Assessment Year 2007-2008

Amount Particulars (In Rs)

- Conference expenses other than conference fees - Hotel , Boarding & Lodging facilities - Telephone expenses - Travelling expenses - Staff Welfare - Conveyance - Entertainment Expenses - Vehicle Maintenance and Depreciation thereof - Sales promotion expenses other than for free samples -

Fringe benefit - Fringe benefit value is 20% on above -

Free or Concessional Ticket to Employee -

- Fringe benefit - Fringe benefit value is 100% on above -

Gifts - Scholarships - Club and similar facilities - Pooja expenses - Expenses liable for 50 % FBT - FBT value on above -

Aggregate of Fringe benefit value -

Fringe benefit tax @33.66% on above - Add : Interest U/s 115 WJ (3) (Note 1) - Total FBT payable - Less : Advance FBT - FBT payable -

######

Food & Beverages other than those provided in office & Through non transferrable paid vouchers

Contribution by Employer to Approved Super Annution Fund which exceeds Rs 100000 per employee

###

Note 1

Advance tax shall be paid as under :

Quarter Ended Fringe Fringe benefit Fringe benefit Benefit Value Tax

30-6-06 - - - 30-9-06 - - - 31-12-06 - - - 31-3-07 - - -

Total - - -

Interest Calculation U/s 115 WJ (3)

Quarter Ended Advance Advance tax Shortfall Delay in Interest tax payable paid months @ 1 %

30-6-06 - - - - - 30-9-06 - - - - - 31-12-06 - - - - - 31-3-07 - - - - -

Total - - -

Quarter wise FBT break up for the Financial year 2006 - 2007

Particulars Q1 Q2 Q3 Q4 Total

Free or Concessional Ticket to Employee - - - - -

- - - - - Expenses Liable for 100 % FBT - - - - - FBT on above @ 33.66 % - - - - -

- - - - - Conference expenses other than conference fees - - - - - Hotel , Boarding & Lodging facilities - - - - - Telephone expenses - - - - - Travelling expenses - - - - - Staff Welfare - - - - - Conveyance - - - - - Entertainment Expenses - - - - - Vehicle Maintenance and Depreciation thereof - - - - - Sales promotion expenses other than for free samples - - - - - Expenses liable for 20 % FBT - - - - - FBT value on above - - - - - FBT on the above @ 33.66% - - - - -

Gifts - - - - - Scholarships - - - - - Club and similar facilities - - - - - Pooja expenses - - - - - Expenses liable for 50 % FBT - - - - - FBT value on above - - - - - FBT on the above @ 33.66% - - - - -

Total FBT Value for Quarter - - - - - Total Fringe benefits for quarter - - - - -

Contribution by Employer to Approved Super Annution Fund which exceeds Rs 100000 per employee

Food & Beverages other than those provided in office & Through non transferrable paid vouchers

QUANTITATIVE DETAILS FOR THE YEAR 1-4-06 TO 31-3-07

CAPACITY DETAILS FOR THE YEAR

PARTICULARS PRODUCT 1 PRODUCT 2 PRODUCT 3

(In Units) (In Units) (In Units)

Licenced Capacity under xxxx Act - - - Installed Capacity - - - Actual Production - - -

SALES DURING THE YEAR

PARTICULARS CURRENT YEAR PREVIOUS YEAR

QUANTITY AMOUNT QUANTITY AMOUNT ( IN UNITS) ( IN UNITS)

Product 1 - - - - Product 2 - - - -

TOTAL - - - -

RAW MATERIALS CONSUMED DURING THE YEAR (TOTAL)



OPENING STOCK


TOTAL (A) - - - -

PURCHASES DURING THE YEAR


TOTAL (B) - - - -

TOTAL (C) (A+B) - - - -

LESS : CLOSING STOCK


TOTAL (D) - - - -

RAW MATERIALS CONSUMED - - - - DURING THE YEAR ( C ) - ( D )

RAW MATERIALS CONSUMED DURING THE YEAR (IMPORTED)

ABC:Should be as per Cost accounting standards

A9

ABC: Should be as per Cost accounting standards



OPENING STOCK


TOTAL (A) - - - -

IMPORTS DURING THE YEAR


TOTAL (B) - - - -

TOTAL (C) (A+B) - - - -



TOTAL (D) - - - -

IMPORTED RAW MATERIALS CONSUMED - - - - DURING THE YEAR ( C ) - ( D )

PERCENTAGE OF IMPORTED RAW MATERIAL #DIV/0! #DIV/0! #DIV/0! #DIV/0! CONSUMPTION TO TOTAL CONSUMPTION

STORES CONSUMED DURING THE YEAR ( TOTAL )



OPENING STOCK


TOTAL (A) - - - -



TOTAL (B) - - - -

TOTAL (C) (A+B) - - - -



TOTAL (D) - - - -

ABC:Since 0 / 0 it shows error

E98

ABC: Since 0 / 0 it shows error

STORES CONSUMED - - - - DURING THE YEAR ( C ) - ( D )

STORES CONSUMED DURING THE YEAR ( IMPORTED)



OPENING STOCK


TOTAL (A) - - - -



TOTAL (B) - - - -

TOTAL (C) (A+B) - - - -



TOTAL (D) - - - -

IMPORTED STORES CONSUMED - - - - DURING THE YEAR ( C ) - ( D )

PERCENTAGE OF IMPORTED SPARES #DIV/0! #DIV/0! #DIV/0! #DIV/0! CONSUMPTION TO TOTAL CONSUMPTION

GOODS PRODUCED DURING THE YEAR



Product 1 - - - - Product 2 - - - - Product 3 - - - -

TOTAL - - - -

ANNEXURE TO FORM 3CD : FIXED ASSETS

As per Income Tax Act

ParticularsOpening WDV Additions

Deletions Total % of

Depreciation Closing WDVAs on 1-4-06 Above 180 days Below 180 days Depreciation as on 31-3-07

Goodwill - - - - - 25 - - Land - - - - - 25 - - Buildings - - - - - 20 - - Leaseholds - - - - - 25 - - Railway Sidings - - - - - 10 - - Plant & Machinery - - - - - 10 - - Furniture & Fittings - - - - - 10 - - Property Development - - - - - 10 - - Patents & Trade marks - - - - - 60 - - Livestock - - - - - 10 - - Vehicles - - - - - 25 - -

Total - - - - - -

SCHEDULE 3 : FIXED ASSETS

DEPRECIATION AS PER COMPANIES ACT

Particulars Gross Block Accumlated Net Block Additions Deletions

Total

% of Current year Gross Block Accumlated Net Block

as on 1-4-06 Depreciation As on 1-4-06 Other Additions as on 31-3-07 As on 1-4-06

Goodwill - - - - - - - - - - - - - Land - - - - - - - - - - - - - Buildings - - - - - - - - - - - - - Leaseholds - - - - - - - - - - - - - Railway Sidings - - - - - - - - - - - - - Plant & Machinery - - - - - - - - - - - - - Furniture & Fittings - - - - - - - - - - - - - Property Development - - - - - - - - - - - - - Patents & Trade marks - - - - - - - - - - - - - Livestock - - - - - - - - - - - - - Vehicles - - - - - - - - - - - - -

Total - - - - - - - - - -

Due to Increasein Forex Liablity

Due to Decreasein Forex Liablity

Other Deletions

Depreciation / Amortisation



INSTRUCTIONS * The appropriate Depreciaton rate should be keyed-in in the Rate Rows *

* Just copy the formulae to extend to other assets and key in the months put to use * * Key in the amount of purchase of the asset corresponding to month of purchases *

* Opening balance should be keyed-in in the "April " row * * Don’t delete any cells containing formulae *

Assets Asset 1 Asset 2 Asset 3 Months

April / Opening Balance - 12 - 12 - 12 May - 11 - 11 - 11 Jun - 10 - 10 - 10 Jul - 9 - 9 - 9 Aug - 8 - 8 - 8 Sep - 7 - 7 - 7 Oct - 6 - 6 - 6 Nov - 5 - 5 - 5 Dec - 4 - 4 - 4 Jan - 3 - 3 - 3 Feb - 2 - 2 - 2 Mar - 1 - 1 - 1

Total - - - - -

Rate (In points) - - -

Amount - - -

DEPRECIATION CALCULATOR (As per Companies Act 1956) © 2007

INSTRUCTIONS * The appropriate Depreciaton rate should be keyed-in in the Rate Rows *

* Just copy the formulae to extend to other assets and key in the months put to use * * Key in the amount of purchase of the asset corresponding to month of purchases *

* Opening balance should be keyed-in in the "April " row * * Don’t delete any cells containing formulae *

Asset 4 Asset 5 Asset 6 Asset 7 Asset 8 Asset 9

- 12 - 12 - 12 - 12 - 12 - - 11 - 11 - 11 - 11 - 11 - - 10 - 10 - 10 - 10 - 10 - - 9 - 9 - 9 - 9 - 9 - - 8 - 8 - 8 - 8 - 8 - - 7 - 7 - 7 - 7 - 7 - - 6 - 6 - 6 - 6 - 6 - - 5 - 5 - 5 - 5 - 5 - - 4 - 4 - 4 - 4 - 4 - - 3 - 3 - 3 - 3 - 3 - - 2 - 2 - 2 - 2 - 2 - - 1 - 1 - 1 - 1 - 1 -

- - - - - -

- - - - - -

- - - - - -

DEPRECIATION CALCULATOR (As per Companies Act 1956) DESIGNED BY1. B.KARTHIKEYAN. B.Com, PE II2. ARUMUGAM NAINAR B.Com, PE II3. ABHIJIT RAJA. AISSCE, CPT. 4. SANTHOSH B.Com, PEII.

A1

DESIGNED BY 1. B.KARTHIKEYAN. B.Com, PE II 2. ARUMUGAM NAINAR B.Com, PE II 3. ABHIJIT RAJA. AISSCE, CPT. 4. SANTHOSH B.Com, PEII.

Asset 10 Asset 11

12 - 12 - 12 11 - 11 - 11 10 - 10 - 10 9 - 9 - 9 8 - 8 - 8 7 - 7 - 7 6 - 6 - 6 5 - 5 - 5 4 - 4 - 4 3 - 3 - 3 2 - 2 - 2 1 - 1 - 1

- -

- -

- - ###

Tax calculator for A.Yr 07-08 (Others)

Particulars Amount

Income from Salary . - Income from HP . - Income from Bus&Proff . - Capital gain - Income from Other sources . -

Gross Total Income - Chapter VI A. 80 C - 80 D - 80 G - 80 GGA -

Total Income -

Total Tax Payable -

Interest 234 A,B,C -

Total Tax Payable on above -

Surcharge - Total Tax Payable - E.Cess. -

Net tax payable -

Use goal Seek to find out income for a given amount of tax , VI A deduction

Tax calculator for A.Yr 07-08 (Women)

Particulars Amount


Gross Total Income - Chapter VI A. 80 C - 80 CC - 80 G - 80 GGA -

- Total Income -

Total Tax Payable -


Total Tax Payable -

Surcharge - Total Tax Payable -

E.Cess. - Net tax payable -

Tax calculator for A.Yr 07-08 (Sr Citizens)

Particulars Amount


Gross Total Income -

Chapter VI A. 80 C - 80 CC - 80 G - 80 GGA -

Total Income -

Total Tax Payable -


Total Tax Payable -

Surcharge - Total Tax Payable -

E.Cess. - Net tax payable -

FORM NO. 3CA

[See rule 6G(1)(a)]

Audit report under section 44AB of the Income - tax Act, 1961,in a case where the accounts of the business or profession of a person

have been audited under any other law

(b) the audited balance sheet as at 31st March, _____; and

Place : PANAJI GOA

Date : ______________

*I / we report that the statutory audit of M/s. _________________ ( Name & Address of the Asseessee with PAN No. ) was conducted by *me / us / M/s. ____________________________________________________in pursuance of the provisions of the___________________________Act, and*I/we annex hereto a copy of *my / our / their audit report date _______________________along with a copy of each of :-

(a) the audited *profit and loss account / income and expenditure account for the year ended on 31st March,______________________

(c) documents declared by the said Act to be part of, or annexed to, the *profit and loss account / income and expenditure account and balance sheet.

2. The Statement of particulars required to be furnished under section 44AB is annexed here - with in Form No. 3CD.

3. In *my / our opinion and to the best of *my / our information and according to explanations given to *me / us, the particulars given in the said Form No.3 CD and annexure thereto are true and correct.

FORM NO. 3CB

[SEE RULE 6G(1)(b)]

Audit report under section 44AB of the Income - tax Act 1961,

in the case of a person referred to in clause (b) of sub - rule (1) of rule 6G

(b) Subject to above -

1. *I / we have examined the balance sheet as on 31st March, ____, and the *profit and loss account / income and expenditure account for the year ended on that date, attached herewith, of ______________________________( Name ), _______________(Address), ____________(PAN No.).

2. *I / we certify that the Balance Sheet and the *profit and loss / income and expenditure account are in agreement with the books of account maintained at the head office at _____________ and ** ___________ branched

3. (a) *I / we report the following observations / comments / discrepancies / inconsistencies; if any:

A. *I / we have obtained all the information and explanations which, to the best of *my / our knowledge and belief, were necessary for the purpose of the audit.

B. In *my / our opinion, proper books of account have been kept by the head office and branches of the assessee so far as appears from*my / our examination of the books.

C. In *my / our opinion and to the best of *my / our information and according to the explanations given to *me / us, the said accounts, read with notes thereon, if any, give a true and fair view :-

(i) In the case of the balance sheet, of the state of the affairs of the assessee as at 31st March, ,and

(ii) In the case of the *profit and loss account / income and expenditure account, of the *profit / loss or *surplus / deficit of the assessee for the year ended on that date.

4. The statement of particulars required to be furnished under section 44AB is annexed herewith in Form No.3CD and annexure thereto.

Place : PANAJI GOA

Date : ___________

Notes :1. *Delete whichever is not applicable.2. **mention the total number of branches.3. ***This report has to be signed by -

(I) a Chartered Accountant within the meaning of the Charted Accountants Act, 1949 (38 of 1949);or

5. In *my/our opinion and to the best of *my / our information and according to explanations given to *me / us, the particulars given in the said Form No.3 CD are true and correct.

(ii) Any person who, in relation to any State, is, by virtue of the provisions of sub - section (2) of section 226 of the Companies Act, 1956 (1 of 1956), entitled to be appointed to act as an auditor of companies registered in that State.

4. The person, who signs this audit report, shall indicate reference of his memebership number / certificate of prctice number / authority under which he is entitled to sign this report..

34 / 43

FORM NO.3CD[See rule 6G(2)]

Statement of particulars required to be furnished under Section 44AB of the Income – tax Act, 1961

PART – A

1 Name of the assessee :

2 Address :

3 Permanent Account Number :

4 Status :

5 Previous Year ended : 31 st March 2007

6 Assessment year : 2006-07

PART - B7. (a)

: Not Applicable

(b)

: Not Applicable

8. (a)

:

(b):

9. (a): No

(b)

:

(c) List of books of account examined. : Same as above

If firm or Association of Persons, indicate names of partners / members and their profit sharing ratios.

If there is any change in the partners/members or their profit sharing ratios since the last date of preceding year, the particulars of such change.

Nature of business or profession (if more than one business or profession is carried on during the previous year, nature of every business or profession)

If there is any change in the nature of Business or profession, the particulars of such change.

As reported to us there is no change in the nature of business as compared to last year.

Whether books of account are prescribed under section 44AA. If yes, list of books so prescribed.

Books of account maintained (In case books of account are maintained in a computer system, mention the books of account generated by such computer system).

Sale and Purchase Register, Cash and Bank book, Ledger, General Ledger and Journal Ledger (All Computerised) and Vouchers

35 / 43

10

: Not Applicable

11(a) : Mercantile basis of accounting.

(b)

: As reported to us there is no change as compared to last year.

(c): NA

(d)

: Nil

12.(a) : Cost

(b)

: Nil

12A.: Nil

a) Description of capital asset,

b) Date of acquisition;

c) Cost of acquisition;

13 :

(a) : Nil

(b)

: Nil

Whether the profit and loss account includes any profits and gains assessable on presumptive basis, if yes, indicate the amount and the relevant section (44AD, 44AE, 44B, 44BB, 44BBA, 44BBB or any other relevant section).

Method of accounting employed in the previous year.

Wherter there has been any change in the method of accounting employed vis-à-vis the method employed in the immediately preceding previous year.

If answer to (b) above is in the affirmative, give details of such change, and the effect thereof on the profit or loss.

Details of deviation, if any, in the method of accounting employed in the previous year from accounitng standards prescribed under section 145 and the effect thereof on the profit or loss.

Method of valuation of closing stock employed in the previous year.

Details of deviation, if any, from the method of valuation prescribed under section 145A, and the effect thereof on the profit or loss.

Give the following particulars of the capital asset converted into stock-in-trade:-

d) Amount at which the asset is converted into stock-in-trade.,

Amounts not credited to the profit and loss account, being -

the items falling within the scope of section 28;

The Performa credits, drawbacks, words refund of duty of customs or excise or service tax, or refund of sales tax or value added tax, where such credits, drawbacks or refunds are admitted due by the authorities concerned.

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(c) : Nil

(d) any other item of income; : Nil

(e) capital receipt, if any. : Nil

14

:

(a) Description of asset / block of assets. :

(b) Rate of depreciation. :

(c) :

(d)

:

(i)

:

(ii) Change in rate of exchange of currency, and :

(iii) :

(e) Depreciation allowable. :

(f) Written down value at the end of the year. :

15

:

(a)

:

(b) not debited to the profit and loss account. :

16.(a)

:

escalation claims accepted during the previous year;

Particulars of depreciation allowable as per the Income-tax act, 1961 in respect of each asset or block of assets, as the case may be, in the following form :-

Actual cost or written down value, as the case may be.

Additions / deductions during the year with dates; in the case of any addition of an asset, date put to use; including adjustments on account of -

A

s per

an

nexu

re

Modified Value Added Tax credit claimed and allowed under the Central Excise rules, 1944, in respect of assets acquired on or after 1st March 1994.

Subsidy or grant or reimbursement, by whatever name called.

Amount admissible under sections:-(a)33AB (b)33ABA (c)33AC(wherever applicable) (d)35 (e)35ABB (f)35AC (g) 35CCA (h)35CCB (i)35D (j)35DD (k)35DDA (l)35E

debited to the profit and loss account (showing the amount debited and deduction allowable under each section separately );

Any sum paid to an employee as bonus or commision for services rendered, where such sum was otherwise payable to him as profits or dividend.[Section 36(1)(ii)]

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(b)

:

17 :

(a) expenditure of capital nature; :

(b) expenditure of personal nature; :

(c):

(d) expenditure incurred at clubs, :

(i) as entrance fees and subscriptions; :

(ii) as cost for club services and facilities used; :

(e) (I):

(ii) any other penalty or fine; :

(iii):

(f) amounts inadmissible under section 40(a); :

(g):

(h)

Yes

:

Any sum received from employees towards contributions to any provident fund or superannuation fund or any other fund mentioned in section 2(24)(x); and due date for payment and the actual date of payment to the concerned authorities under section 36(1)(va).

Amounts debited to the profit and loss account being :-

expenditure on advertisement in any souvenir, brochure, tract, pamphlet or the like, published by a political party;

expendutre by way of penalty or fine for violation of any law for the time being in force;

expenditure incureed for any purpose which is an offence or which is prohibited by law;

interest, salary, bonus, commision or remuneration inadmissible under section 40(b) / 40(ba) and computation therof;

a) whether a certificate has been obtained from the assessee regarding payments relating to any expenditure covered under section 40A(3) that the payments were made by account payee cheques drawn on a bank or account payee bank draft, as the case may be, [Yes/No]

b) amount inadmissible under section 40A(3) read with rule 6DD [with break-up of inadmissible amounts];

Nil. However wherever amounts are paid by cheque/DD, it is not possible for us to verify that the amount has been paid by Account Payee Cheque/ DD, because necessary evidence are not in the possession of the assessee.

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(i) : Nil

(j): Nil

(k) : Nil

(l)

Nil

(m) Nil

di18 :

19 :

20 :

21

:

(A)

:

(a) Paid during the previous year ; :

(b) Not paid during the previous year :(ii) ***

(B) Was incurred in the previous year and was :

(a):

(b)Not paid on or before the aforesaid date. :

provision for payment of gratuity not allowbale under section 40A(7);

Any sum paid by the assessee as an employer not allowable under section 40A(9);

particulars of any liability of a contingent nature.

amount of deduction inadmissible in terms of section 14A in respect of the expenditure incurred in relation to income which does not form part of the total income,

amount inadmissible under the proviso to section 36(1)(iii).;

Particulars of payments made to persons specified under section 40A(2)(b).

Amounts deemed to be profits and gains under section 33AB or 33ABA or 33AC.

Any Amount of profit chargeable to tax under section 41 and computation thereof.

*i) In respect of any sum referred to in clause (a), (b),(c),(d), (e) or (f) of section 43B, the liability for which;-

Pre-existed on the first day of the previous year but was not allowed in the assessment of any preceding previous year and was

* state whether sales tax, customs duty, excise duty or any other indirect tax, levy, cess, impost, tec., is passed through the profit and loss account.

Paid on or before the due date for furnishing the return of income of the previous year under section 139(1);

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22.(a)

:

(b):

23

:

24.(a)

:

(i):

(ii) amount of loan or deposit taken or accepted. :

(iii) :

(iv)

:

(b)

:

(i):

Note: The information given under 21 (B) is only upto the date of singning this report.

Amount of the Modified Value Added Tax credit availed of or utilise during the previous year and its treament in the profit & loss account and treatment of outstanding Modified Value Added Tax credits in the accounts.

Particulars of income or expenditure of prior period credited or debited to the profit & loss account.

Details of any amount borrowed on hundi or any amount due thereon (including interest on the amount borrowed) repaid, othewise than through an account payee cheque [Section 69 D].

Particulars of each loan or deposit in an amount exceeding the limit specified in section 269SS taken or accepted during the pervious year :-

name, address and permanent account number (if available with the assessee) of the lender or depositor;

Whether the loan or deposit was squared up during the previous year;

iv) Maximum amount outstanding in the account at any time during the year. (These particulars need not be given in the case of a Govt. Company , a banking company or a corporation established by a Central, State or Provincial Act)

Particulars of each repayment of loan or deposit in an amount exceedng the limit specified in section 269 T made during the pervious year;

Name , address and permanent account number (if available with the assessee.) of the payee;

40 / 43

(ii) Amount of repayment; :

(iii):

(iv):

( c)

25. a)

:

Sl. No.

Assessment Year Remarks

Nil

(b)

:

26 :

Maximum amount outstanding in the account at any time during the pervious year ;

Whether thr repayment was made otherwise than by account payee cheque or accont payee bank draft.

Whether a certificate has been obtained from the assessee regarding taking or accepting loan or deposit, or repayment of the same through an account payee cheque or an account payee bank draft. [Yes/No]

The particulars (i) to (iv) at (b) and the Certificate at (c) above need not be given in the case of a repayment of any loan or deposit taken or accepted from Government, Government company, banking company or a corporation established by a Central, State or Provincial Act,

Details of brought forward loss or depreciation allowance in the following manner, to the extent avaliable ;

Nature of loss / allowance (in

rupees)

Amount as returned (in

rupees)

Amount as assesed (give refrence to

relevant order)

b. Whether a change in shareholding of the company has taken place in the previous year due to which the losses incurred prior to the previous year cannot be allowed to be carried forward in terms of section 79.;

Section-wise details of deductions, if any, admissible under Chapter VIA.

41 / 43

27.(a)

:

(b):

Amount(i) Tax deductible and not deducted at all(ii) Shortfall on account of lesser deduction than required to be deducted(iii) Tax deducted late(iv) Tax deducted but not paid to the credit of the Central Government

* Please give the details of cases covered in (i) to (iv) above.

28 (A):

(i) Opening Stock :

(ii) Purchases during the previous year :

Sales during the previous year :

Closing Stock :

Shortage / excess, if any :

(B)

:

(a) Raw Materials :

(i) Opening Stock :


(iii) Consumption during the previous year :

(iv) Sales during the previous year :

(v) Closing Stock :

(vi) *yield of finished products :

(vii) * percentage of yield :

(viii) *shortage / excess, if any :

(b) Finished products / By-products :

(i) Opening Stock :

Whether the assessee has complied with the provisions of Chapter XVII-B regarding deduction of tax at source and regarding the payment thereof to the credit of the Central Government. [Yes/No]

If the provisions of Chapter XVII-B have not been complied with, please give the following details*, namely:-

In the case of a trading concern, give quantitative details of principal items of goods traded :

In the case of a manufactruing concern,give quantitative details of the principal items of raw materials, finished products and by -products.

42 / 43


(iii) :

(iv) Sales during the previous year :

(v) Closing Stock :

(vi) Shortage / excess, if any :

29:

(a) total amount of distributed profits :

(b) total tax paid theron :

(c) dates of payment with amounts :

30:

31:

32 Report the following major ratios: :

(a) Gross profit / Turnover :

(b) Net profit / Turnover :

(c) Stock - in - trade / Turnover

(d) Material consumed / Finished goods produced

Place :

Date :

Quantity manufactured during the previous year

* Information may be given to the extent available

In the case of a domestic company, details of tax on distributed profits under section 115 O in the following form:

Whether any cost audit was carried out, if yes, enclose a copy of the report of such audit [See section 139(9)]

Whether any audit was conducted under the Central Excise Act, 1944, if yes, enclose a copy of the report of such audit.

ANNEXURE

PART A1 Name of the assessee:2 Address:3 Permanent Account Number:4 Status:5 Previous year ended: 6 Assessement year

PART BCODE

Sr. No. Parameters Current year Previous year1 Paid up share capital/capital of partner/proprietor2

3 Reserve and surplus/Profit and Loss Account4 Secured loans5 Unsecured loans6 Current liabilities and provisions7 Total of Balance Sheet8 Gross turnover/gross receipts9 Gross profit

10 Commission received11 Commission paid12 Interest received13 Interest paid14 Depreciation as per books of accounts15 Net Profit (or loss) before tax as per Profit and Loss Account16 Taxes on incomepaid/provided for in the books

PLACE: PANAJI GOADATE

Note: Please enter the relevent code pertaining to the main area of your business activity.

Nature of business or profession in respect of every business carried on during the previous year

Share application money/Current Account of Partner or Proprietor

Documents

Schedule Vi