INFYNOW BUSINESS SOLUTIONS LLP

LLPIN: AAQ-8246
Plot No.224 West Wing, Kumarswamy Layout Belagavi Belgaum KA 590010 IN
NOTES TO ACCOUNTS

1. Nature of Operation
INFYNOW BUSINESS SOLUTIONS LLP is incorporated on 16th October, 2019 to carry on business of
Software and website Development services, Android Application Development, Digital Marketing and
Branding services, Graphic Design and marketing services, Tech Based startup services and all kinds
and other ancillary trade in and outside India but does not include banking and money circulating
business.

2.Basis of Preparation of Financial Statements

The accounts of the LLP are prepared under the historical cost convention using the accrual
method of accounting in accordance with the generally accepted accounting principles in India.

2.1 Significant Accounting Policies and Notes to Accounts

a) Revenue Recognition
Revenue is recognized to the extent that it is probable that the economic benefit will flow to
the LLP and the revenue can be reliably measured.

b) D e p o s i t s
No Deposits exists as on the date of Balance Sheet.

c) Other Disclosures
i. There are no contingent liabilities pertaining to the LLP
ii. There are no Capital Commitments made by the LLP
iii. Th ere are n o Empl oyees i n the LLP
iv. Value of imports on CIF Basis is Rs. Nil
v. Expendi ture i n forei gn currency is Rs, NIL
vi. Earning in foreign currency is Rs. NIL
vii. As there is no timing difference, deferred tax asset / liability has not been provided
for in the books of account.
viii. The Firm has not commenced any commercial activities since its incorporation
ix. The LLP has not received any memorandum (as required to be filed by the suppliers
with the notified authority under the micro, Small and Medium Enterprises
development Act, 2006) claiming their status as on 31 st March, 2021 as micro, small or
medium enterprises. Consequently the amount paid/payable to these parties during
the year is nil.

For, INFYNOW BUSINESS SOLUTIONS LLP

MANJUNATH SHIVALINGAPPA KODOLLI KARTHIK MALLIKARJUN HANASI

DPIN: 08588020 DPIN: 08588021

Date: 01-09-2021
Place: Belgaum