Contingent liabilities and notes on accounts (Illustrative)

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....NGENT LIABILITIES 1.1 Claims against the Entity not acknowledged as debts - Rs.______________ (Previous year Rs.___________) 1.2 In respect of: - Bank guarantees given by/on behalf of the Entity -Rs.__________(Previous year Rs._____________). - Letters of Credit opened by Bank on behalf of the Entity -Rs.________(Previous year Rs._________). - Bills discounted with banks Rs._____....

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.... Sheet. 5. TAXATION In view of there being no taxable income under Income-tax Act 1961, no provision for Income tax has been considered necessary. Current Year Previous Year 6. FOREIGN CURRENCY TRANSACTIONS 6.1 Value of Imports calculated on C.I.F Basis: - Purchase of finished Goods - Raw Materials & Components (Including in transit) - Capital Goods ....