Page 260 - Arvind 2024

Notes to Consolidated 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 tax charge
Adjustment of tax pertaining to earlier years Deferred tax charge
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
1,802.73 (104.06)
(523.67)
1,175.00
5.72
5.72
Particulars
For the year 2023-24
2,118.02
(56.99)
For the year 2022-23
401.29
2,462.32
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
1,905.72
561.70
For the year 2022-23
7,571.40
40.67
(56.99)
11.24
2,462.32
Accounting profit before income tax
Tax on accounting profit at statutory income tax rate 25.17% (March 31, 2023: 25.17%]
On account of different tax rate in subsidiaries
Expenses disallowed
Adjustment of tax pertaining to earlier years
Others
Tax expense at an effective tax rate of 32.52% (31 March 2023: 29.69%)
(c) Deferred tax
a) Deferred Tax Liabilities
3,957.71 996.16
296.52 23.76 (104.06) (37.38) 1,175.00
Particulars
Balance sheet
Other comprehensive income
Statement of profit and loss
As at March 31, 2024
As at March 31, 2023
For the year 2023-24
For the year 2022-23
For the year 2023-24
For the year 2022-23
24.04
49.17
-
-
25.12
7.91
-
-
-
(7.91)
26.52
-
-
-
(26.52)
58.47
49.17
-
-
(9.31)
Impact of difference between (17.28) tax depreciation and
depreciation charged for the
financial reporting
Impact of difference between - Lease Liabilities and Right of
Use of Assets
Impact of Fair value of Mutual - Funds
Gross deferred tax liabilities (17.28)
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