Atul Ltd 2017-18

189 Note 29.5 Current and Deferred tax (continued) b) Income tax expense recognised in Statement of Other Comprehensive Income: ( ` cr) Particulars 2017-18 2016-17 i) Current tax Remeasurement gain | (loss) on defined benefit plans 0.95 0.85 Total current tax expense 0.95 0.85 ii) Deferred tax Effective portion of gain | (loss) on cash flow hedges 0.02 (0.25) Total deferred tax expense | (benefit) 0.02 (0.25) Income tax expense 0.97 0.60 c) The reconciliation between the Statutory income tax rate applicable to the Group and the effective income tax rate of the Group is as follows: Particulars 2017-18 2016-17 a) Statutory income tax rate 34.61% 34.61% b) Differences due to: i) Expenses not deductible for tax purposes 1.05% 0.76% ii) Income exempt from income tax (1.63%) (2.33%) iii) Income tax incentives (0.50%) (3.37%) iv) Others (1.69%) (0.04%) Effective income tax rate 31.84% 29.63% d) Current tax liabilities (net) ( ` cr) Particulars As at March 31, 2018 As at March 31, 2017 Opening balance 3.39 0.59 Add: Current tax payable for the year 108.16 87.11 Less: Taxes paid (103.42) (84.31) Closing balance 8.13 3.39 e) Current tax assets (net) ( ` cr) Particulars As at March 31, 2018 As at March 31, 2017 Opening balance 1.21 4.36 Add: Tax paid in advance, net of provisions during the year 1.37 (3.15) Closing balance 2.58 1.21 f) Deferred tax liabilities | (assets) The following is the analysis of deferred tax liabilities | (assets) balances presented in the Consolidated Balance Sheet: ( ` cr) Particulars As at March 31, 2018 As at March 31, 2017 Deferred tax liabilities 129.55 104.09 Deferred tax assets (5.01) (2.67) 124.54 101.42 Notes to the Consolidated Financial Statements