Annual Report for Monthly Income Schemes - Tata Mutual Fund

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Tata Monthly Income FundYear Ended31-Mar-13Rs.Year Ended31-Mar-12Rs.Schedule VII - Interest IncomeDebentures / Bonds / Asset Backed Securities 13,081,686 20,438,214Discounted Securities 4,188,234 1,346,346Government Securities 2,273,306Reverse Repos 1,692,608 1,785,404Other Deposits 1,987 2,51421,237,821 23,572,478
Schedules forming part of the AccountsSchedule VIII Statement of significant accounting policies and notes forming part of the financial statements ofTata Monthly Income Fund as at and for the year ended 31st March, 2013.ABACKGROUNDTATA MONTHLY INCOME FUND (the “Scheme”) is an open ended balanced scheme of Tata Mutual Fund (the“Fund”). The Fund is registered with the Securities and Exchange Board of India (“SEBI”). The Scheme is managed byTata Asset Management Limited (“TAML” / the “Investment Manager”), an investment management company asregistered with SEBI. The investment objective of the scheme to provide reasonable and regular income alongwithpossible capital appreciation to its unitholders, by predominantly investing in debt and money market instruments alongwith a small exposure to equity and equity related instruments. The Scheme is sponsored by Tata Sons Limited (“TSL”)and Tata Investment Corporation Limited (“TICL”). Tata Trustee Company Limited (“TTCL” / the “TrusteeCompany”) is the trustee company of the Scheme.BSIGNIFICANT ACCOUNTING POLICIES1.1 Basis of AccountingThe principle accounting policies applied in the presentation of these financial statements are set out below. Thesepolicies have been consistently applied to both the periods presented, unless otherwise stated.1.2 Preparation of Financial Statements of the SchemeThe financial statements of the Scheme have been prepared in accordance with the requirements of Securities andExchange Board of India (Mutual Funds) Regulations, 1996 (the “SEBI Regulations”), the Ninth and EleventhSchedules of which lay down the accounting policies and standards to be adopted and the disclosures to be made.The Expert Advisory Committee (the “EAC”) of the Institute of the Chartered Accountants of India (“ICAI”) haveopined that the Accounting Standards on Cash Flow Statement (“AS-3”), Segment Reporting (“AS-17”) and RelatedParty Disclosures (“AS-18”) issued by the ICAI are applicable to the financial statements of schemes of mutual funds.The managements of the Investment Manager and the Trustee Company are of the opinion that mutual funds aregoverned by a self-contained regulatory framework, i.e. the SEBI Regulations, based on which the financial statementshave been prepared.The preparation of financial statements in conformity with the SEBI Regulations requires the use of certain criticalaccounting estimates. It also requires the Board of Directors of the Investment Manager to exercise its judgement in theprocess of applying the Fund’s accounting policies.The areas involving high degree of judgement or complexity or critical estimates are fair values of unlisted equitysecurities.
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Annual Report for Monthly Income Schemes - Tata Mutual Fund

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