THE UNIQUE IDENTIFICATION AUTHORITY OF INDIA (FORM OF ANNUAL STATEMENT OF ACCOUNTS) RULES, 2018 1
ae2b27d15b0cd83bd088a45fe3d476719bb02ce4 · 2016 · State unknown
Parent: THE AADHAAR (TARGETED DELIVERY OF FINANCIAL AND OTHER SUBSIDIES, BENEFITS AND SERVICES) ACT, 2016 (e5452e76268985edd128a049b6e27a9ff6b4f2fb)
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Rule TOC
1 · Short title and commencement. — (1) These rules may be called the Unique Identification Authority of India (Form of Annual Statement of Accounts) Rules, 2018.
3 · Annual statement of accounts and other relevant records. -(1) At the expiration of a period of twelve months ending with the 31st March of every year, the Authority shall prepare its annual statement of accounts and records in Form 'A', Form 'B' and Form 'C' and the Schedules annexed to these rules.
4 · Maintenance of accounts, etc.—The Authority shall preserve the Balance-Sheet, the Income and Expenditure Account and the Receipt and Payment Account referred to in subrule (1) of rule 3, for a period of five years following the financial year to which they relate.
1 · Published in the Gazette of India, Extraordinary, Part II, Section 3 , Sub -section (i), No. 834, dated 20.11.2018, vide Notification G.S.R. 1135(E), dated 13.9.2018 .
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1 · ACCOUNTING CONVENTION
2 · INVESTMENTS
2 · 1. Investments classified as "long term investments" are carried at cost. Provision for decline, other than temporary, is made in carrying cost of such .investments.
2 · 2. Investments classified as "Current" are carried at lower of cost and fair value. Provision for shortfall on the value of such investments is made for each investment considered individually and not on a global basis.
2 · 3. Cost includes acquisition expenses like brokerage, transfer stamps.
3 · . FIXED ASSETS
3 · 1. Fixed Assets are stated at cost of acquisition inclusive of inward freight duties and taxes and incidental and direct expenses related to acquisition. In respect of projects involving construction, related pre-operational expenses (including interest on loans for specific project prior to its completion), form part of the value of the assets capitalized.
3 · 2. Fixed Assets received by way of non-monetary grants, (other than towards the Corpus Fund), are capitalized at values stated, by corresponding credit to Capital Reserve.
4 · DEPRECIATION
4 · 1. Depreciation is provided on straight-line method as per rates specified in the Income-tax, Act, 1961 except depreciation on cost adjustments arising on account of conversion of foreign currency liabilities for acquisition of fixed assets, which is amortized over the residual life of the respective assets.
4 · 2 In respect of additions to/deductions from fixed assets during the year, depreciation is considered on pro-rata basis.
4 · 3 Assets costing L 5,000 or less each are fully provided.
2 · MISCELLANEOUS EXPENDITURE
3 · GOVERNMENT GRANTS/SUBSIDIES
6 · 1. Government grants of the nature of contribution towards capital cost of setting up projects are treated as Capital Reserve.
6 · 2. Grants in respect of specific fixed assets acquired are shown as a deduction from the cost of the related assets.
6 · 3. Government grants/subsidy are accounted on realization basis.
7 · FOREIGN CURRENCY TRANSACTIONS
7 · 1. Transactions denominated in foreign currency are accounted at the exchange rate prevailing at the date of the transaction.
7 · 2. Current assets, foreign currency loans and current liabilities are converted at the exchange rate prevailing as at the year end and the resultant gain/loss is adjusted to cost of fixed assets, if the foreign currency liability relates to fixed assets, and in other cases is considered to revenue.
8 · LEASE
9 · RETIREMENT BENEFITS
9 · 1 Liability towards gratuity payable on death/retirement of employees is accrued based on actuarial valuation.
9 · 2. Provision for accumulated leave encashment benefit to the employees is accrued and computed on the assumption that employees are entitled to receive the benefit as at each year end .
1 · CONTINGENT LIABILITIES
1 · 1Claims against the Entity not acknowledged as debts - ₹________(Previous year ₹ _______).
1 · 2 In respect of:
1 · 3 Disputed demands in respect of:
1 · 4 In respect of claims from parties for non-execution of orders, but contested by the Entity ₹ ______________ (Previous year ₹ _________).
2 · CAPITAL COMMITMENTS
3 · LEASE OBLIGATIONS
4 · CURRENT ASSETS, LOANS AND ADVANCES
5 · TAXATION
6 · FOREIGN CURRENCY TRANSACTIONS
7 · REMUNERATION TO AUDITORS