The aggregate amounts incurred on expenses are as follows :
Year ended March 31, |
||
| 2010 | 2009 | |
| Salaries and bonus including overseas staff expenses | 3,00,40,94,261 | 2,56,00,82,380 |
| Contribution to provident and other funds | 20,948 | – |
| Staff welfare | 19,91,485 | 4,73,228 |
| Group health insurance | 7,26,04,296 | 2,93,00,810 |
| Overseas travel expenses | 40,60,66,663 | 44,13,26,763 |
| Visa charges and others | 11,42,872 | 18,86,537 |
| Travel and conveyance | 8,48,63,640 | 3,45,23,370 |
| Technical sub-contractors - others | 68,64,30,440 | 30,28,32,259 |
| Software packages | ||
| For own use | – | 31,21,212 |
| Professional charges | 8,72,51,377 | 6,70,55,964 |
| Telephone charges | 3,47,99,803 | 3,48,74,641 |
| Communication expenses | 1,03,971 | 35,68,218 |
| Power and fuel | 72,384 | 20,131 |
| Office maintenance | 20,44,147 | 20,05,988 |
| Guest house maintenance | 5,967 | – |
| Commission charges | (1,34,12,180) | (10,45,41,459) |
| Brand building | 15,28,155 | 5,91,758 |
| Rent | 3,34,07,506 | 2,90,83,752 |
| Insurance charges | 25,56,294 | 28,03,580 |
| Printing and stationery | 25,32,107 | 22,38,584 |
| Consumables | 14,37,724 | 6,05,542 |
| Donations | – | 97,420 |
| Advertisements | – | (49,435) |
| Marketing expenses | 19,49,595 | 17,07,620 |
| Rates and taxes | 1,13,37,220 | 78,27,440 |
| Professional membership and seminar participation fees | 34,19,635 | 40,77,315 |
| Postage and courier | 16,07,453 | 14,93,260 |
| Books and periodicals | 25,17,704 | 11,05,943 |
| Provision for bad and doubtful debts | – | 1,03,91,613 |
| Sales promotion expenses | – | 6,43,183 |
| Bank charges and commission | 5,65,691 | 2,35,307 |
| Auditor's remuneration | ||
| Statutory audit fees | – | 1,21,446 |
| Miscellaneous expenses | 72,20,006 | 1,75,90,170 |
| 4,43,81,59,163 | 3,45,70,94,538 | |
The Company is primarily engaged in business consultancy services. The production and sale of such services cannot be expressed in any generic unit. Hence, it is not possible to give the quantitative details of sales and certain information as required under paragraphs 3, 4C and 4D of part II of Schedule VI to the Companies Act, 1956.
Year ended March 31, |
||
| 2010 | 2009 | |
| Lease rentals recognized during the period | 3,34,07,506 | 2,90,83,752 |
Details of amounts due to or due from as at March 31, 2010 and March 31, 2009:
| Particulars | As at March 31, |
|
| 2010 | 2009 | |
| Sundry debtors | ||
| Infosys Technologies Limited | 43,37,70,005 | – |
| Infosys Consulting India Limited | 14,06,073 | – |
| Sundry creditors | ||
| Infosys Technologies Limited | 26,21,65,557 | 34,38,184 |
| Infosys Consulting India Limited | 82,31,152 | – |
The details of the related party transactions entered into by the company for the year ended March 31, 2010 and March 31, 2009 are as follows:
| Particulars | Year ended March 31, |
|
| 2010 | 2009 | |
| Capital transactions: | ||
| Financing transactions | ||
| Infosys Consulting India - Investment | 1,00,00,000 | – |
| Infosys Technologies Limited | 49,89,00,000 | 21, 44, 50,000 |
| Loans/Advances | ||
| Revenue transactions: | ||
| Purchase of services | ||
| Infosys Consulting | 9,05,77,956 | |
| Infosys Technologies Limited | 25,26,16,732 | 3,68,30,076 |
| Purchase of shared services including facilities and personnel | ||
| Infosys BPO Limited (Including subsidiaries) | 3,81,52,915 | – |
| Sale of services | ||
| Infosys Technologies limited | 377,92,87,351 | 275,28,94,778 |
| Infosys BPO Limited (Including subsidiaries) | 1,31,85,540 | – |
Key management personnel comprise directors
| Particulars | Year ended March 31, |
|
| 2010 | 2009 | |
| Whole-time directors | ||
| Salary | 9,24,88,500 | 9,24,88,500 |
| Perquisites and incentives | 7,35,49,699 | 17,67,09,050 |
| Total remuneration | 16,60,38,199 | 26,91,97,550 |
There are no taxes provided in the books of accounts as there are accumulated business losses which can be set off with the taxation amount