Atul Ltd 2019-20

Corporate Overview Statutory Reports Financial Statements 202 Atul Ltd | Annual Report 2019-20 01-21 22-91 92-228 ( ` cr) Note 29.4 (I) Outstanding balances at the year end As at March 31, 2020 As at March 31, 2019 a) With entities over which Key Management Personnel or their close family members have significant influence 1 Receivables 0.09 0.03 Atul Foundation Trust (Current year: ` 15,181) - Atul Kelavani Mandal (Previous year: ` 45,804) 0.01 Atul Rural Development Fund (Previous year: ` 41,276) 0.01 Atul Vidyalaya Trust 0.07 0.03 Urmi Stree Sanstha (Current year: ` 10,023 and Previous year: ` 21,914) 2 Payables - 0.02 Atul Rural Development Fund (Previous year: ` 15,000) - Atul Vidyalaya Trust - 0.02 Note 29.5 Current and deferred tax During the year the Company and certain subsidiary companies have adopted option available under Section 115 BAA of the Income Tax Act, 1961 as per the taxation laws (amendment ) Act, 2019 dated December 11, 2019. Accordingly, tax expenses, deferred tax assets | liabilities have been recomputed and impact of this has been recognised in the Consolidated Statement of Profit or Loss for the year ended March 31, 2020. The major components of income tax expense for the years ended March 31, 2020 and March 31, 2019 are: a) Income tax expense recognised in the Consolidated Statement of Profit and Loss: ( ` cr) Particulars 2019-20 2018-19 i) Current tax Current tax on profit for the year 214.37 242.73 Adjustments for current tax of prior periods (1.47) 0.89 Total current tax expense 212.90 243.62 ii) Deferred tax (Decrease) | Increase in deferred tax liabilities 7.88 24.01 Decrease | (Increase) in deferred tax assets (13.37) (23.31) Adjustments for deferred tax of prior periods due to change in statutory tax rate (32.90) - Total deferred tax expense | (benefit ) (38.39) 0.70 Income tax expense 174.51 244.32 Note 29.4 Related party disclosures (continued)