OCTATHORPE WEB-CONSULTANTS PRIVATE LIMITED

For the Financial Year ended 31st March 2020

(All amounts in Rupees, unless otherwise stated)

Balance Sheet
As at As at
Note
31-Mar-20 31-Mar-19
EQUITY AND LIABILITIES
Shareholder's Funds
Share Capital 3 367,090 367,090
Reserves & Surplus 4 -2,094,102 2,417,022
Share Application Money Pending Allotment
Non-current liabilities
Deferred tax liabilities (Net) 5 - 60,893
Long -term borrowings 6 9,515,826 5,006,196

Current liabilities
Short-term borrowings 7 7,745,300 3,340,983
Trade payables 8 232,293 181,662
Other current liabilities 9 4,782,696 3,802,960
Short-term provisions 10 126,056 90,000

TOTAL EQUITY AND LIABILITIES 20,675,158 15,266,806

ASSETS

Non-current assets
Property, Plant & Equipment 11
Tangible assets 402,683 516,962
Intangible assets 17,535,451 11,553,030

Non-current investments 12 1 1
Long-term loans and advances 13 189,000 189,000
Deferred Tax Asset 5 89,250
Current assets

Trade receivables 14 1,179,996 727,031

Cash and bank balances 15 87,186 1,210,206
Short-term loans and advances 16 1,058,808 1,070,577
Other current assets 17 132,784 -

TOTAL ASSETS 20,675,159 15,266,806

Significant accounting policies 1.1 to 1.11

The accompanying notes are an integral part of the financial statements.

As per our report of even date attached

for Manisha and Associates for Octathorpe Web-Consultants Private Limited
Chartered Accountants
Firm Registration No: 019622S

CA Manisha B Kashyap Reddy B Keerti Singh

Partner Director Director
* Membership No: 234416 DIN: 03050959 DIN:03542629
*
Place: Kakinada
Date : 16-12-2020
-1,727,012

-1004000

-40,259

66,069

9436400
4057652
OCTATHORPE WEB-CONSULTANTS PRIVATE LIMITED
For the Financial Year ended 31st March 2020
(All amounts in Rupees, unless otherwise stated)

Statement of Profit and Loss

Year Ended Year Ended
Note
31-Mar-20 31-Mar-19
Revenue from operations (gross) 18 7,807,621 10,634,976
Less: Excise duty
Revenue from operations (net) 7,807,621 10,634,976
Other income 19 332,472 5,500
Total revenue 8,140,093 10,640,476
Expenses
Direct Related Cost 20 1,642,462 1,763,124
Employee benefits expense 21 5,628,476 7,640,341
Finance costs 22 311,473 89,231
Depreciation and amortization expense 11 810,744 1,161,561
Other expenses 22 4,408,205 3,573,324
Total expenses
Profit before exceptional and extraordinary items and 12,801,360 14,227,580
tax (4,661,267) (3,587,104)
Exceptional items
Profit before extraordinary items (4,661,267) (3,587,104)
Extraordinary items
Profit before tax (4,661,267) (3,587,104)
Tax Expense
Current tax
Deferred tax (150,143) (21,972)
Profit for the year from continuing operations (4,511,124) (3,565,132)
Profit forfrom
Net loss the period from
disposal discontinuing
of assets operations
and liabilities of
discontinuing operations
Tax expense of discontinuing operations
Profit from discontinuing operations after tax -
Profit
Earningsforper
theequity
year share17: [Nominal value per share: (4,511,124) (3,565,132)
Rs.10)
Basic (including extraordinary items) (122.89) (97.12)
Diluted (including extraordinary items)
Basic (excluding extraordinary items)
Diluted (excluding extraordinary items)

As per our report of even date attached

for Manisha and Associates for Octathorpe Web-Consultants Private Limited
Chartered Accountants
Firm Registration No: 019622S

CA Manisha B Kashyap Reddy B Keerti Singh

Partner Director Director
Membership No: 234416 DIN: 03050959 DIN:03542629

Place: Kakinada
Date: 16-12-2020
 Difference Can be corrected
8,873,659 1,066,039
-
8,873,659 1,066,039
6,301 (326,171)
8,879,960 739,868

1,254,205 (388,257)
5,279,522 (348,954)
169,056 (142,417)
795,561 (15,184) -
3,424,353 (983,852)
10,922,697 (1,878,663) (1,878,663)
-2042736.713738 2,618,530 -2,618,530
-
-2042736.713738 2,618,530
-
-2042736.713738 2,618,530
-
-
150,143
-2042736.713738 2,468,387
-
-
-
-
-2042736.713738 2,468,387
Octathorpe Web - Consultants Private Limited
Provisional Cash Flow Statement

(All
Particulars
A. Cash flow from Operating activities
Profit before taxation and exceptional item, extraordinary items including discontinued oper

Adjustments for:
Depreciation
loss on Disposal of asset
Interest income
Interest Expense
Operating profit before working capital changes
Changes in working capital:
Increase in Short term borrowings
Increase in Long term borrowings
(Increase)/Decrease in trade receivables
(Increase)/Decrease in Short term loans and advances
(Increase)/Decrease in Long term loans and advances
(Increase)/Decrease in other current assets
Increase/(Decrease) in trade payables
Increase/(Decrease) in other current liabilities
Increase/(Decrease) in other Long term provision
Increase/(Decrease) in other Short term provision
Cash generated from operations
Taxes paid (net of refunds)
Net cash generated from operations before exceptional and extraordinary items
Exeptional items
Extraordinary items
Net cash generated from operating activities

B. Cash flow from investing activities:

Purchase of tangible/intangible assets
Proceeds from disposal of assets
Interest received
Net cash from investing activities

C. Cash flow from financing activities:

Interest and other finance cost
Proceeds from long term borrowings
Repayment of Short term borrowings
Proceeds from share allotment
Net cash used in financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at the beginning of the year

Cash and cash equivalents at the end of the year

Cash and cash equivalents comprise of:

Cash on hand
Cheques on hand
Balances with Banks

The accompanying notes are an integral part of the financial statements

As per our report of even date attached
For Manisha & Associates for Octathorpe Web Consultants Private Limited
Chartered Accountants
Firm Registration No: 019622S

Manisha B Kashyap Reddy Keerti Singh

Sole Proprietor Director Director
Membership No: 234416 DIN NO : 03050959 DIN NO : 0354

Place: Kakinada
Date: 16-12-2020
 (All amounts in Rupees, unless othrerwise stated)
Year Ended 31st March, 2020 Year Ended 31st March, 2019

(4,661,267.15) -3,587,104.00

810,744.35 1,161,561.00
- -
- -
311,472.85 -
-3,539,049.94 -2,425,543.00

4,404,317
4,509,630.00 -
(452,964.80) (46,836.00)
11,768.74 -
- (11,769.00)
(132,783.26) 3,637.00
50,631.20 161,528.00
979,735.55 684,867.00
36,056.00 -
- 55,000.00
5,867,340.31 -1,579,116.00
- -

- -
- -
5,867,340.31 (1,579,116.00)

-6,678,886.18 -5,237,648.00
- -
- -
-6,678,886.18 -5,237,648.00

-311,472.85 -
- 5,006,196.00
2,190,980.00
- -
-311,472.85 7,197,176.00
 -1,123,018.72 380,412.00
1,210,206.00 829,794.00

87,187 1,210,206.00

-
-
87,186 1,210,206.00

Private Limited

Keerti Singh
Director
959 DIN NO : 03542629
Note: 3
Share Capital
As at
31-Mar-20 31-Mar-19
Authorised:
100,000 (31 March 2018: 100,000) Equity shares of Rs. 10/- each 1,000,000 1,000,000

Issued, subscribed and paid up:

36709 (31 March 2018: 36,709) Equity shares of Rs.10/- each 367,090 367,090

Total 367,090 367,090

(a) Reconciliation of number of shares

As at 31 Mar 20 As at 31 Mar 19
Number of
Number of Shares Amount Shares Amount
Equity Shares:
Balance as at the beginning of the year 36,709 367,090 36,412 364,120
Add: Changes during the year 0 0 297 2,970
Balance as at the end of the year 36,709 367,090 36,709 367,090

(b) Details of shares held by shareholders holding more than 5% of the aggregate shares in the company
As at 31 Mar 20 As at 31 Mar 19
Number of
Number of Shares % Shares %
Equity Shares:
Kashyap Reddy B 24,121 65.71% 24,072 65.58%
Rishav Rastogi 3,750 10.22% 3,750 10.22%
Note: 4
Reserves and Surplus
As at
31-Mar-20

Securities Premium Account 21515218.70

Surplus in Statement of Profit and Loss

Balance as at the beginning of the year (19,098,197)
Add : Profit for the year (4,511,124)
Balance as at the end of the year (23,609,321)

TOTAL : (2,094,102)

Note: 5
Deferred tax Liability/Asset
As at
31-Mar-20
Deferred tax liabilities
Depreciation
Deferred tax assets
Depreciation and Amortization
Opening balance 60,893
Current year balance (150,143)
Closing balance (89,250)
Total Deferred Tax Liability/(Asset) (89,250)

Note: 6
Long-term Borrowings
As at
31-Mar-20
Unsecured:
0% 988 Compulsary Convertible Debentures (31-03-2018 - 0)(31-03-2019 988) 9515826.00

Total 9,515,826
Compulsorily convertible debentures - will be converted into Equity Shares of the company, earlier of
(a) at the discounted price of 20% Fair Market Value and upon 24 months from date of issue or
(b) at a investment price as per valuation report during the next round of capital infusion after the debenture issu

Note: 7
Short-term Borrowings
As at
31-Mar-20
Unsecured:
Loans
From Banks 3,587,300
From Directors 4,158,000

Total 7,745,300

Note: 8
Sundry Creditors
As at
31-Mar-20
Dues to MSMEs
Dues to other than MSMEs 232,293
Total 232,293

Note: 9
Other Current Liabilities
As at
31-Mar-20
Salaries Payable 4,381,159
Advance from customers -
Duties and taxes 247,927
Other Payables 153,610
GST Payable

Total 4,782,696

Note: 10
Short term provisions
As at
31-Mar-20
Provision for Audit fee 15000.00
Provision for gratituty. 111056.00
Total 126,056

Note: 12
Investments
As at
31-Mar-20

Trade Investments
A) Unquoted equity instruments
Investment in subsidiaries: 1
(100% shares acquired in Hitwicket Digital Pvt Ltd (A
wholly owned subsidiary) is shown at nomimal value of
Rs. 1/- )
TOTAL: 1

Note: 13
Long-term Loans and Advances
Year Ended
31-Mar-20
Unsecured considered good, unless otherwise stated:
Other Loans and Advances
Rental deposit 189,000

Total : 189,000

Note: 14
Trade recievables:
Year Ended
31-Mar-20

Unsecured, considered good

Outstanding for a period not exceeding 6 months from the
date they are due for payment
Others 1,179,996

Total : 1,179,996

Note: 15
Cash and Bank Balances
Year Ended
31-Mar-20
Cash and Cash equivalents
Cash on hand -
Bank balances
In current accounts 87,185
Demand deposits (less than 3 months maturity)

87,186

Total : 87,186

Note: 16
Short term Loans and Advances
Year Ended
31-Mar-20
Unsecured considered good, unless otherwise stated:
Loans and Advances to related Parties:
Considered good 1,058,808
Advance to suppliers

Total : 1,058,808

Note: 17
Other Current Assets
Year Ended
31-Mar-20
TDS recievable -
GST Input 132783.26
Total : 132,783.26
 As at
31-Mar-19

21,515,219

(15,533,065)
(3,565,132)
(19,098,197)

2,417,022

As at
31-Mar-19

82,865
(21,972)
60,893
60,893

31-Mar-19

5,006,196

5,006,196
any, earlier of
issue or
n after the debenture issue.

31-Mar-19
 840,983
2,500,000

3,340,983

As at
31-Mar-19
37,678
143,984
181,662

As at
31-Mar-19
3,542,528
1,196
165,332
-
93,904

3,802,960

As at
31-Mar-19
90,000

90,000

As at
31-Mar-19
 1

Year Ended
31-Mar-19

189,000

189,000

Year Ended
31-Mar-19

727,031

727,031

Year Ended
31-Mar-19

1,210,206

1,210,206

1,210,206

Year Ended
31-Mar-19
 1,058,808
11,769

1,070,577

Year Ended
31-Mar-19
-

-
Date Total No. Per debenture
8/10/2018 2,001,465 395 5067 Kavya Reddy B
1/5/2019 2,001,465 395 5067 Sowmya Yeddala
2/6/2019 1,003,266 198 5067 OL Reddy
0 interest rate 2,001,465
0 interest rate 2,001,465
0 interest rate 1,003,266
Note: 18
Revenue from Operations
Year Ended
31-Mar-20 31-Mar-19
Sale of Web Services
to customers within India 2,186,532 3,746,481
to customers Outside India 5,021,089 6,488,496
App Development 600,000 400,000
Total 7,807,621 10,634,976

Note: 19
Revenue: Other Income
Year Ended
31-Mar-20 31-Mar-19
Others
Exchange Gain 2,030
Write off 279476.69
Miscellaneous Income 52,995 3,470
Total 332,472 5,500

Note: 20
Direct Related Cost
Year Ended
31-Mar-20 31-Mar-19
Payment Gateway Charges 1,642,462 1,763,124 1,254,205 388,257
Total 1,642,462 1,763,124

Note: 21
Employee benefit expense
Year Ended
31-Mar-20 31-Mar-19
Salaries, Wages and Bonus 5,204,852 7,013,487
Staff Welfare Expenses 423,624 523,854
Bonus 103,000
Total 5,628,476 7,640,341

Note: 22
Other Expenses
Year Ended
31-Mar-20 31-Mar-19
Professional Charges 512,500 393,894 Professional Charges 267,200 245,300
Amazon Pay 54,088 Amazon Pay 0
Contract Staffing Expenses 38,385 10,285 Contract Staffing Expenses 38,385
Interest on TDS 4,964 260 Interest on TDS 2,384 2,580
Internship Expenses 482,717 248,303 Internship Expenses 300,539 182,178
Professional Tax 2,500 7,500 Professional Tax 2,500
Marketing Expenses 454,955 91,079 Marketing Expenses 418,010 36,945
Business Promotion 1,084 65,130 Business Promotion 1,084
Telephone Expenses 61,175 55,656 Telephone Expenses 30,624 30,551
Office maintainance 317,972 249,013 Office maintainance 171,860 146,112
Staturory Audit Fee 15,000 55,000 Audit Fee 15,000
Intrest on Loan 311,473 Intrest on Loan 169,056 142,417
Power & Fuel 191,756 188,356 Power & Fuel 27,558 164,198
ROC Charges 14,700 48,490 ROC Charges 14,700 0
PayTM Expenses - 189,662 PayTM Expenses 53,844 -53,844
Printing & Stationary 58,797 Printing & Stationary 18,851 39,946
Rent 803,724 765,450 Rent 793,800 9,924
Repairs and Maintainance 12,250 11,100 Repairs and Maintainance 35,494 -23,244
Travelling and conveyance 312,103 249,871 Travelling and conveyance 202,100 110,003
Bank Charges 8,930 27,803 Bank Charges 52,260 -43,330
Server usage charges 920,995 753,597 Server usage charges 820,357 100,638
Loan processing fee 101,882
Product Consulting 61,642 70,548
Write off - Product Consulting 160,542 -58,660
Miscellaneous expenses 30,175 38,239 Miscellaneous expenses 54,230 7,412
Total 4,719,679 3,573,324 3,593,409 1,096,094
Note: 11
Property, Plant & Equipment

Gross Block Depreciation Net Block Net Block

Fixed Asset 1-Apr-19 Addition Disposal Acquisiton 31-Mar-20 1-Apr-19 For the Year Disposal 31-Mar-20 31-Mar-20 31-Mar-19
Tangible Assets:
Computer 971,804 - - 971,804 866,721 66,370 - 933,092 38,712 105,083
Electrical Equipment 112,427 - - - 112,427 108,935 1,574 - 110,509 1,918 3,492
Furniture and Fixtures 810,855 89,150 - - 900,005 437,257 119,805 - 557,062 342,943 373,598
Office Equipment 189,129 - - - 189,129 166,681 10,117 - 176,798 12,331 22,448
UPS 43,500 - - - 43,500 31,159 5,562 - 36,721 6,779 12,341
TOTAL 2,127,715 89,150 - - 2,216,865 1,610,753 203,429 - 1,814,182 402,683 516,962
Intangible Assets:
Product Development 4,242,301 - - 4,242,301 1,896,548 607,315 - 2,503,863 1,738,438 2,345,753
Product Development (WIP) 9,207,277 6,589,736 - 15,797,013 - - - - 15,797,013 9,207,277
TOTAL 15,577,293 6,678,886 - - 22,256,179 3,507,301 810,744 - 4,318,046 17,938,133 12,069,992

4,248,673

1,161,561 9,207,277 300,728

Furniture and Fixtures

Purchase date Year end Days Amount Rate Depn
4/24/2019 3/31/2020 342.00 25850 25.89% 6692.565
11/25/2019 3/31/2020 127.00 63300 25.89% 16388.37
89150 23080.935
63.16 105,083
45.07 3,492
25.89 373,598
45.07 22,448
45.07 12,341

25.89 2,345,753
 OCTATHROPE WEB-CONSULTANTS PRIVATE LIMITED
Depreciation Statement for the year ended 31.03.2019, As per Income Tax Act
As On Additions> Total Cost As on WDV As on
Particulars Rate of Dep. 01-04-2019 180 days Additions< 180 days Deletions 31-03-2020 Deprec for the Year 31-03-2020

Computers and UPS 40% 223,116 25,850 63,300 - 312,266 112,246 200,020
Office Equipment 15% 103,103 - - - 103,103 15,465 87,638
Furniture & Fixtures 10% 593,548 - - - 593,548 59,355 534,193
Electrical Equipment 15% 36,862 - - - 36,862 5,529 31,333
Product Development 25% 2,158,644 - - - 2,158,644 539,661 1,618,983
Improvements to leased premises 10% 13,581 - 13,581 1,358 12,223
Product Development WIP 0% 9,207,277 6,589,736 15,797,013 - 15,797,013
TOTAL 12,336,131 25,850 6,653,036 - 19,015,017 733,614 18,281,403
WDV As on
31-03-
2019
223116
103103
593548
36862
2158644
13581
9207277
Octathorpe Web-Consultants Pvt. Ltd.2016-20
8-2-334/39, Road No.3,
Banjara Hills, Hyderabad-500034
Trial Balance
1-Apr-2019 to 31-Mar-2020
Octathorpe Web-Consultants
Particulars Pvt. Ltd.2016-20
1-Apr-2019 - (from 1-Apr-
to 31-Mar-2020
2019)
Closing Balance
Debit Credit
Capital Account 19098199.13 21882308.70
Reserves & Surplus 19098199.13
Profit & Loss Account 19098199.13
Security Premium 21515218.70
Securities Premium 21515218.70
ACSYS Investments Pvt. Ltd. 1080.00
Aditya Sharma 460.00
Arjun Batra 2520.00
AVA Cholayi Health Care Pvt. Ltd. 5720.00
Chandu Nair 1770.00
Click Labs Private Limited 1130.00
Elango P 1080.00
Gopal Srinivasan 630.00
Jeevan Guntaka 230.00
Kashyap Reddy Biradavolu 241210.00
Keerti Singh 12820.00
Krishna Ramanathan 5420.00
Lakshmi Narayanan 3950.00
Mahalingam K 780.00
Mecheri Smart Capital Pvt. Ltd. 630.00
Ms Kalpana Babu 320.00
Orchid Angel Ventures 1140.00
Pearltri Business Services 1140.00
Rajat Singhal 12170.00
Ramraj R 4580.00
Ranjith D Rathod 1080.00
Rishav Rastogi 37500.00
Sandeep MN 400.00
Sannareddy Ravindra Babu 1080.00
Saurabh Maheshwari 7810.00
S Hari Kumar 320.00
Shead Investments Holdings Ltd. 12460.00
Siddharth Ganeriwala 320.00
S Nethaji 320.00
Srinivasan 3940.00
Sriram Subramanya 1320.00
Suresh Business Services LLP 1130.00
Vardaman Jain 630.00
Loans (Liability) 17261125.82
Secured Loans 3587299.82
Bajaj Loan 987799.00
ICICI Loan 533373.00
IDFC Loan 300000.00
RBL Loan 946783.82
Unsecured Loans 13673826.00
Debentures 9515826.00
Kashyap Loan Account 4158000.00
HDFC Loan 819344.00
Current Liabilities 3.24 5481940.79
Duties & Taxes 3.24 247929.77
GST 2.72 54270.00
Cgst Input 6% 0.00
CGST Input 9% 55126.13
CGST Input @2.5% 0.00
Cgst Output 9% 1 0.00
GST Payable 54270.00
IGST Input 0.00 0
SGST Input 9% 77657.13
SGST Input @2.5% 0.00
Sgst Input @6% 0.00
Sgst Output 9% 1 0.00
TDS Payable 0.00 191059.00
TDS 94J 26260.00
Tds Payable 92B 143961.00
Tds Payable 94I 20838.00
IGST RCM Input 0.00 0.52
IGST RCM Output 0.52 0.00
Professional Tax 2600
Provisions 0.00 4630824.32
Salaries Payable 0.00 4381159.00
Aditya Employee 46546.00
Aditya Thakar Employee 0.00
Akash Employee 0.00
Akinchan Panna Employee 76060.00
Akshay Malhotra Employee 0.00
Aniket Employee 0.00
Ankitha Jain Employee 0.00
Ankith Srivatsava Employee 0.00
Anmol Employee 0.00
Anshaj 0.00
Arsalaan Employee 0.00 40000
Aruwin Employee 0.00 24442
Ashok Raj Employee 0.00
Ashutosh Employee 0.00
DeepakEmployee 0.00
Hemanth Bangar Employee 0.00
Himanshu Employee 0.00
Jeevan Guntaka Employee 0.00
Karthik Employee 0.00
Kashyap Reddy Employee 2927038.00
Keerti Singh Employee 830465.00
Krishnendu De Employee 0.00
Madhusudhan Sarogi Employe 0.00
Prabuddha Avasarala Employee 41467.00
Rajat Singhal Employee 0.00
Rohit Employee 0.00
Salaries Payable 0.00
Sandeep Employee 0.00 41800
Saurabh Maheshwari Employee 0.00
Saurabh Sharma Employee 86341.00
Shubham Employee 0.00
Siddharth Pattnaik Employee 60000.00
Sunil Employee 0.00
Swagat Sahoo Employee 29600.00
Toral Employee 34800.00
Uday Employee 45000.00
Vara Prasad Employee 37800.00
Venkat Employee 0.00
Yash Tarani Employee 59800.00
Yashwanth Employee 0.00
Yogesh Employee 0.00
D Rajeshwari 153610.32
Provison for Gratuity 111056.00
Sundry Creditors 232292.70
Audit Control A/c 0.00
Deferred Tax Liability (Net) 60893.00
Internship Payable 270000.00 0
Provision for Audit Fee 25000.00 15000
Fixed Assets 18820700.00 4356069.00
Accumulated Depreciation 4356069.00
Air Conditioner 65437.00
Computers 188797.00
Electrical Equipment 6356.00
Furniture & Fittings 527825.00
I MAC 96444.00
Office Equipment 40866.00
Product Development 7413904.00
Product Development WIP 10458604.00 1089736.1763
UPS 22467.00
Investments 1.00
Investment in Equity Instruments 1.00
Current Assets 2514989.09 0.00
Loans & Advances (Asset) 1247808.00
Daasari Rajeshwari (Advance Rent) 189000.00
Loans & Advances to Related Parties 1058808.00
Sundry Debtors 1179995.70 0.00
Cash-in-hand 0.00
Cash 0.00
Bank Accounts 87185.39
ICICI Bank 4275 18039.23
ICICI Bank 508 69146.16
TDS recivables 0.00
Sales Accounts 7207621.10
Ad Revenue 118721.72
Ad Revenue - Google Ad 15973.80
Tapjoy Ad Revenue 69091.03
Unity Ad Revenue 33656.89
In-App Purchase 7088899.00
Foreign Revenue - Paypal 512336.00
IOS In-App Purchase 1406712.00
Playstore Foreign Revenue 2983319.00
Revenue Paytm 2186532.00
Direct Incomes 600000.00
App Development 600000.00
Direct Expenses 1642461.98
PG Charges 1642461.98
IOS PG Charge 587944.00
Paytm PG Charges 33390.91
PG Charges - Paypal 125771.07
Playstore PG Charges 895356.00
Indirect Incomes 52995.37
Misc Income 10119.95
Indirect Expenses 14902398.77
Advertisement Expenses 192355.17
Audit fee 25000.00 15000
Bank Charges 8930.15
Consulting and Legal Charges 61642.00
Depreciation 3194508.00
Domain Charges 1084.20
Electricity Expenses 142156.19
Employee Expenses 312567.62
Fuel Charges 14000.00
General & Misc Expenses 14.21
Gratuity to Employees 111056.00
Interest on HDFC Loan 98425.85
Interest on ICICI Loan 117958.00
Interest on TDS 4964.00
Internship Expenses 10000.00
Internship Stipend 1137668.00 877668 482717.4
Interst on RBL Loan 63149.00
Intrest on Bajaj Loan 31940.00
Marketing Expenses 262600.00
Office Maintenance 317971.90
Other Expenses 22451.27
Paytm Expenses 0.00
Printing & Stationery 58796.55
Processing Fee for Loan 101882.00
Product Consulting 0.00
Professional Fee 512500.00
PT for directors 2500.00
Recruitment Expenses 38385.00
Rent 803724.00
Repairs and Maintenance 12250.00
RoC Fees 14700.00
Salary Expenses 5204852.00
Server Expenses 1615780.41 920995 694785.5763
Telephone & Internet Charges 61174.56
Travel Expenses 282249.34
Water Expenses 35600.00
Indirect Incomes
Discount Received 42875.42
Indirect Expenses
Conveyance 29853.35
Google Drive Charges 5110.00
Stationery 2600.00
Indirect Incomes
Write off account 279476.69
Current Assets
CGST Input 9% 55126.13
SGST Input 9% 77657.13
Grand Total 57121537.47 57121537.47
9,436,396 10704852 4,603,086.36 4057650.28
877,668 877668 394,950.60 394950.6
1,669,460 1615780.41 694,785.58 717867.8
5,692,822.54 5,170,468.68
4356069
394951
779331.31
 COMPUTATION OF DEFERRED TAX

Particulars Amount (Rs.)

WDV as per Income Tax Act 18,281,403

WDV as per Companies Act 17,938,133

DTA / (DTL) 343,270

Deferred Tax Asset as on 31.03.20 @ 26% 89,250

Opening balance as on 01.04.2019 (60,893)

Deferred tax asset during the year 150,143

CALCULATION OF MINIMUM ALTERNATE TAX UNDER SECTION 115JB OF THE IT ACT, 1961

Calculation of Book Profit Amount in Rupees

Net Profit as per Profit and Loss Account (4,511,124)

(prepared in accordance with the provisions of Companies Act,1956)

A D D:
Add the following amounts if debited to profit and loss account
a) the amount of income tax paid or payable and the provisions therefor -
b) the amount carried to any reserves
c) the amount set aside for meeting unascertained liabilities
d) provision for losses of subsidiary companies
e) the amount dividends paid or proposed
f) the amount of expenditure relatable to any income to which section 10
or 11 or 12 apply.
g) the amount of depreciation 810,744
h) the amount o deferred tax and provision therefor
i) the amount or amounts set aside as provision for diminution in the value
of any asset

L E S S:
Deduct the following amounts if credited to profit and loss account

a) the amount withdrawn from reserves or provisions

b) the amount of income to which any of the provisions of section 10,
or 11 or 12 apply.
c) depreciation debited to P&L A/c or 810,744
d) the amount withdrawn from revaluation reserve credited to P&L A/c to
the extent it does not exceed the amount depreciation on revaluation of assets
e) the amount of loss brought forward or unabsorbed depreciation whichever
is less as per books of account("loss" for this purpose does not include
depreciation and therefore in a case where an assessee has shown profit
in a year, but after adjustment of depreciation, it results in loss, no adjust
ment in book profit is allowed)
f) the amount of profits of sick industrial company.
g) the amount of deferred tax, if any such amount is credited to P/L 810,744

BOOK PROFIT (4,511,124)

Tax Liability @ 18.5% of the Book Profit (834,558)

Add: Surcharge @ 5% -
Add: Education Cess @ 4% (33,382)
Total Tax Liability (867,940)
Income Tax Computation

Profit/(Loss) as per P&L A/c (4,661,267)

Add Disallowances Considered seperately under IT. Act.

Depreciation as per Books 810,744.35
Loss on sale of assets -
Amortised cost of programmes -
allowed in earlier year -
Penalties/Expenditure disallowance 281,862.62
Expenditure of Capital Nature -
Provision for leave encashment, Bonus, Gratuity, 43B item 111,056.00
Expenditure of Personal Nature -

Less Allowance under the Income Tax Act / Considered Seperately

Depreciation as per I T Act 733,614.00
Dividend income exempt u/s. 10 -
Allowed on Payment Basis - 43B -
Expenses Allowed u/s 35D -
Amortised cost -
-4,191,218.17
Less Unabsorbed Loss brought forward from previous years -
Deductions under section 10AA -
BUSINESS INCOME C/F. FOR SETOFF IN NEXT A.Y -

TOTAL INCOME

Less Deduction u/s 80JJAA -

TOTAL INCOME -4,191,218.17

TAX ON BUSINESS INCOME @ 25%

Add SURCHARGE @ 0% income 1 Cr to 10 Cr hence -

Add Education Cess & Higher Secondary Education cess @ 4% -

Tax Payable -

MAT

Higher -
TDS Receivable -
 Expenditure disallowance
S.no
1
2
3
4
5
6
1,203,662.98 7
8
9
10
11
12
13
14
Expenditure disallowance
Vendor Expense Disallowed
Facebook India 95,000.00 - within thresh hold limit
Google India 69,986.90 - within thresh hold limit
VPA realtors 96,998.00 - within thresh hold limit
JSS pro 2,000.00 600.00
Roach Interactive 24,000.00 -
PR Agency - -
Hetzner 208,896.17
Unity 32,811.45
Google Coud India Pvt Lt 1,256,616.59 276,298.62
Paypal 57,662.07
Github 23,055.99
Envato 29,365.96
Apple 7,172.18
Bundl Technology 200.00
Total 1,903,765.31 276,898.62

743949
Server Expenses

S.No Vendor Name Amount

1 Hetzner 208,896.17 Disallow
2 Github 23,055.99 Below threshhold limit
3 Envato 29,365.96 Below threshhold limit
4 Unity 32,811.45 Disallow
5 Google Cloud Indi 1,256,616.59 Disallow
6 Apple 7,172.18 Below threshhold limit
7 Bundl Technology 200.00 Below threshhold limit
8 Paypal 57,662.07 Disallow
Reconciliation between books and tally

S.No Particulars As per financials As per tally Difference

1 Depreciation 3,194,508.00 810,744.00 2,383,764.00
2 Accumulated depreciation -4,356,069.00 -1,972,305.00 -2,383,764.00
3 Loans and advances to related parties 1,058,808.00 - 1,058,808.00
4 Write off -279,476.69 779,332.31 -1,058,809.00
5 Audit fees 25000 40,000.00 -15,000.00