Statutory Reports
Corporate Overview
69th Annual Report 2013-14
188
Financial Statements
(Consolidated)
NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS
(
`
in crores)
As at
March 31, 2014
As at
March 31, 2013
6. (a)
Deferred tax assets and liabilities (net) classified on a company wise basis :
(i)
Deferred tax asset
2,347.08
4,428.93
(ii)
Deferred tax liability
(1,572.33)
(2,048.21)
Net deferred tax asset
774.75
2,380.72
(b)
Major components of deferred tax arising on account of timing differences are:
Liabilities:
Depreciation
(1,586.20)
(1,550.48)
Intangibles / Product development cost and
Reserves for Research and Human Resource Development
(8,921.81)
(7,030.57)
Derivatives
(1,334.57)
-
Others
(46.71)
(80.01)
(11,889.29)
(8,661.06)
Assets:
Unabsorbed depreciation / business loss
8,315.50
7,102.21
Employee benefits / expenses allowable on payment basis
3,530.45
3,027.95
Provision for doubtful debts
631.55
340.78
Derivatives
-
467.39
Others
186.54
103.45
12,664.04
11,041.78
Net deferred tax asset
774.75
2,380.72
(c)
Tax expense :
2013 - 2014
2012 - 2013
(i)
Current tax
Current tax [including Minimum Alternate Tax / (credit)]
4,368.42
2,716.74
(ii) Deferred tax charge
396.37
1,059.92
Total (i + ii)
4,764.79
3,776.66
(d)
Deferred tax charge for the year
2013 - 2014
2012 - 2013
Opening net deferred tax assets
2,380.72
2,351.21
(Debited) / Credited to Securities Premium Account
0.48
14.06
(Debited) / Credited to Hedging Reserve
(1,836.00)
423.35
(Debited) / Credited to Pension Reserve
(40.39)
626.74
Translation differences in respect of foreign subsidiaries
666.31
25.28
1,171.12
3,440.64
Closing net deferred tax assets
774.75
2,380.72
Deferred tax charge for the year
396.37
1,059.92
