Page 189 - Arvind 2024

Corporate Overview Statutory Reports Financial Statements
Notes to Standalone Financial Statements for the year ended 31st March, 2024 (Amount in Rs. Lac, unless stated otherwise)
26 Income Tax
(a) Tax expenses
The major components of income tax expenses for the years ended March 31, 2024 and March 31, 2023 are :
Statement of Profit and Loss :
Profit or loss section :
Current income tax
Current income tax charge
Adjustment of tax pertaining to earlier years Deferred tax
Relating to origination and reversal of temporary differences
Income tax expense reported in the statement of profit or loss OCI section :
Deferred tax related to items recognised in OCI during in the year: Net loss/(gain) on remeasurements of defined benefit plans Income tax effect recognised in OCI
1,004.97 (104.21)
6.34
907.10
5.72
5.72
Particulars
For the year 2023-24
1,216.87
(7.75)
For the year 2022-23
(21.47)
1,187.65
11.10
11.10
(b) Reconciliation of tax expense and the accounting profit multiplied by India’s domestic tax rate for March 31 2024 and March 31 2023:
Statement of Profit and Loss :
Particulars
For the year 2023-24
1,686.64
(527.59)
For the year 2022-23
6,700.99
40.67
(7.75)
(4.32)
1,187.65
Accounting profit before income tax
Tax on accounting profit at statutory income tax rate 25.17% (March 31, 2023: 25.17%)
Income exempt from taxes
Expenses disallowed
Adjustment of tax pertaining to earlier years
Others
Tax expense reported in the statement of profit or loss (Effective Incometax rate - 17.72% (March 31, 2023: 19.16%)
4,734.41
1,191.65
(175.67) 23.75 (104.21) (28.41) 907.11
Tax expense reported in the statement of profit or loss (Effective Incometax rate - 17.72% (March 31, 2023: 19.16%)
Annual Report 2023-24 | 187