| Note 1: Corporate Information
Crazy Infotech is a limited company incorporated in India under the
provision of the Companies Act, 1956 engaged in the sale of computers
and various computer accessories and components, provides Software
solutions, sells software products and is also involved in IT Education
and Training.
Note 2 - Additional information to the financial statements
a) Contingent Liabilities : Rs. NIL
b) Expenditure in Foreign Currencies: Rs. NIL
c) Earnings in Foreign Exchange: Rs. NIL
d) Disclosures required under Section 22 of the Micro, Small and Medium
Enterprises Development Act, 2006
The company does not have specific information regarding whether any of
its sundry creditors fall under the category of Micro, Small and Medium
Enterprises, as defined in the Micro, Small, Medium Enterprises
Development Act, 2006 (MSMED Act). Therefore, no additional information
as required under MSMED Act has been provided. However, the Company
continues to take efforts to obtain relevant information from its
Sundry Creditors in this regard.
e) Balance reflected under Debtors is subject to confirmation.
f) Previous year figures have been regrouped / reclassified wherever
necessary to correspond with the current year classification /
disclosure.
3. Deferred Tax:
During the year, the company has considered accounting for deferred tax
in accordance with the Accounting Standard - 22 "Accounting for taxes
on income" issued by the Institute of Chartered Accountants of India.
As at the year end date the company has a Net Deferred tax Asset of
Rs.5,96,077/- representing timing difference arising out of
depreciation for the current year.
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