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Consolidated Financials
185
CORPORATE OVERVIEW (1-31)
STATUTORY REPORTS (46-122)
FINANCIALS
NOTESFORMINGPARTOFCONSOLIDATEDFINANCIALSTATEMENTS
(
`
in crores)
As at
As at
March 31,
March 31,
2012
2011
5. Deferred tax assets and liabilities (net)
(a) Classified on a company wise basis :
(i) Deferred tax asset
4,539.33
632.34
(ii) Deferred tax liability
(2,165.07)
(2,096.13)
Net deferred tax asset / (liability)
2,374.26
(1,463.79)
(b) Major components of deferred tax arising on account of timing differences are:
Liabilities:
Depreciation
(1,522.35)
(1,271.81)
Intangibles / product development cost and
Reserves for Research and Human Resource Development
(5,711.42)
(2,921.45)
Others
(137.80)
(30.17)
(7,371.57)
(4,223.43)
Assets:
Unabsorbed depreciation/ business loss
6,984.83
1,678.48
Employee benefits / expenses allowable on payment basis
2,122.29
543.75
Provision for doubtful debts
326.85
346.53
Premium on redemption of CARS (net of exchange fluctuation on premium)
126.74
111.13
Others
185.12
79.75
9,745.83
2,759.64
Net deferred tax asset / (liability)
2,374.26
(1,463.79)
2011-2012
2010-2011
(c) Tax expense :
(i) Current tax
Current Tax
2,524.74
1,453.75
Less : MAT credit entitlement
(293.29)
(422.55)
Current tax (net of credit for Minimum Alternate Tax)
2,231.45
1,031.20
(ii) Deferred tax
Opening net deferred tax liability
1,463.79
1,153.63
Debited/(Credited) to Securities Premium Account
(15.99)
138.22
Debited /(Credited) to Hedging Reserve
(45.88)
-
Debited /(Credited) to Pension Reserve
(1,272.50)
-
Debited /(Credited) to General Reserve
(1.50)
-
Translation differences on opening balances in respect of foreign subsidiaries
(230.69)
(13.24)
(102.77)
1,278.61
Closing deferred tax assets / (liability)
2,374.26
(1,463.79)
Deferred tax (credit) / charge for the year [Note below]
(2,271.49)
185.18
Total (i + ii)
(40.04)
1,216.38
Note:
During the year ended March 31, 2012, a UK subsidiary company has recognised a tax credit of
GBP 225 million (
`
1,793.66 crores)
(
`
Nil for the year ended March 31, 2011) for past income tax losses, consequent to establishing certainty of utilization on the basis
of future profit forecasts and the planned consolidation of certain subsidiaries in the UK.
FINANCIAL HIGHLIGHTS (32-45)