Statutory Reports
Corporate Overview
69th Annual Report 2013-14
144
Financial Statements
(Standalone)
(
`
in crores)
6. Deferred tax liabilities (Net)
As at
As at
March 31,
March 31,
2014
2013
(a) Major components of deferred tax arising on account of timing differences are:
Liabilities:
Depreciation
(1,438.25)
(1,395.69)
Product development cost
(2,512.05)
(2,128.49)
Others
(16.22)
(40.37)
(3,966.52)
(3,564.55)
Assets:
Employee benefits / expenses allowable on payment basis
109.99
133.11
Provision for doubtful debts
278.77
193.36
Unabsorbed depreciation and business losses
3,514.87
1,248.16
Others
19.78
26.01
3,923.41
1,600.64
Net deferred tax liability
(43.11)
(1,963.91)
(
b) Tax expense :
(i)
Current tax
Current tax
(171.80)
62.50
Less : Minimum Alternate Tax / (credit)
731.80
(61.94)
560.00
0.56
(ii)
Deferred tax
Opening deferred tax
1,963.91
2,105.41
Debited / (credited) to Securities Premium Account
(0.48)
(14.06)
1,963.43
2,091.35
Closing Deferred tax
43.11
1,963.91
Deferred tax charge for the period
(1,920.32)
(127.44)
Total
(1,360.32)
(126.88)
The Company has recognised deferred tax asset of
`
1,525.09 crores
(as at March 31, 2013
`
1,003.12 crores) on unabsorbed depreciation and
`
1,989.78 crores
(as at March 31, 2013
`
245.04 crores) on brought forward business losses, considering the deferred tax liability on timing
differences that will reverse in the future
NOTES FORMING PART OF FINANCIAL STATEMENTS
