10. Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result
of a past event, it is probable that an outflow of resources embodying economic benefits will be required to
settle the obligation and a reliable estimate can be made of the amount of the obligation.

If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate
that reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in
the provision due to the passage of time is recognised as a finance cost.

11. Employee Benefits

(I) Short Term Employee Benefits

The undiscounted amount of short term employee benefits expected to be paid in exchange for the
services rendered by employees are recognised as an expense during the period when employees render
the services.

(II) Post-Employment Benefits

a) Defined Contribution Plans

A defined contribution plan is a post-employment benefit plan under which the Company pays specified
contributions to a separate entity. The Company makes specified monthly contributions towards Provident
Fund, Superannuation Fund and Pension Scheme. The Company’s contribution is recognised as an
expense in the Statement of Profit and Loss during the period in which the employee renders the related
service.

b) Defined Benefit Plans

The Company pays gratuity to the employees whoever has completed five years of service with the
company at the time of resignation/superannuation. The gratuity is paid @15 days salary for every
completed year of service as per the Payment of Gratuity Act 1972

The gratuity liability amount is contributed to the approved gratuity fund formed exclusively for gratuity
payment to the employees. The gratuity fund has been approved by respective IT authorities.

The liability in respect of gratuity and other post-employment benefits is calculated using the Projected
Unit Credit Method and spread over the period during which the benefit is expected to be derived from
employees’ services.

Re-measurement of defined benefit plans in respect of post-employment are charged to the Other
Comprehensive Income.

12. Tax Expenses

The tax expense for the period comprises current and deferred tax. Tax is recognised in the Statement of
Profit and Loss, except to the extent that it relates to items recognised in the comprehensive income or in
equity. In which case, the tax is also recognised in other comprehensive income or equity.

(I) Current Tax

Current tax assets and liabilities are measured at the amount expected to be recovered from or paid to the
taxation authorities, based on tax rates and laws that are enacted or substantively enacted at the Balance
sheet date.

(II) Deferred Tax

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities
in the financial statements and the corresponding tax bases used in the computation of taxable profit.

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in
which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted
or substantively enacted by the end of the reporting period. The carrying amount of Deferred tax liabilities
and assets are reviewed at the end of each reporting period.

13. Government Grants

The Company may receive government grants that require compliance with certain conditions related to
the Company’s operating activities or are provided to the Company by way of financial assistance on the
basis of certain qualifying criteria.

Government grants are recognised when there is reasonable assurance that the grant will be received,
and the Company will comply with the conditions attached to the grant. Accordingly, government grants:

(a) related to or used for assets are included in the Balance Sheet as deferred income and recognised as
income over the useful life of the assets.

(b) related to incurring specific expenditures are taken to the Statement of Profit and Loss on the same
basis and in the same periods as the expenditures incurred.

(c) by way of financial assistance on the basis of certain qualifying criteria are recognised as they become
receivable.

In the unlikely event that a grant previously recognised is ultimately not received, it is treated as a change
in estimate and the amount cumulatively recognised is expensed in the Statement of Profit and Loss.

For Manish Mahavir & Co.

Chartered accountants

Firm Registration Number : 324355E Hanumanmal Bengani Dibbyendu Jana

Managing Director Director

DIN:08425643 DIN: 08898353

(Manish Jain, FCA)

Proprietor

Membership No. 059264 Rekha Patni

Sanjay Kumar Bhansali

UDIN- 24059264BKCSNX5276 Company Secretary CFO |_

Membership No: A20442 IT PAN: ADXXXXX28E

Place: Kolkata
Date: 29th May, 2024