Particulars Particulars Note 24.4 Current and Deferred tax The major components of income tax expense for the years ended March 31, 2018 and March 31, 2017 are: a) Income tax expenses recognised in the Statement of Profit and Loss Particulars 2017-18 2016-17 i) Current tax Current tax on profit for the year 484.13 503.96 Adjustments for current tax of prior periods - (0.22) Total current tax expense 484.13 503.74 ii) Deferred tax Decrease | (Increase) in deferred tax assets 8.28 7.23 Total deferred tax expense | (benefit) 8.28 7.23 Income tax expense 492.41 510.97 b) No deferred tax has been recorded or recognised in Other Comprehensive Income during the reporting year. c) The reconciliation between the statutory income tax rate applicable to the Company and the effective income tax rate of the Company is as follows: 2017-18 2016-17 a) Statutory income tax rate 34.61% 34.61% b) Differences due to: i) Expenses not deductible for tax purposes 0.35% 0.17% ii) Others 0.31% 0.12% Effective income tax rate 35.27% 34.90% d) No aggregate amounts of current and deferred tax have arisen in the reporting periods which have not been recognised in net profit or loss or Other Comprehensive Income, but directly debited| (credited) to equity 2017-18 2016-17 Opening balance 19.02 0.64 Add: Current tax payable for the year 484.13 503.74 Less: Taxes paid (500.32) (485.36) Closing balance 2.84 19.02 (` lakhs) (` lakhs) 2017-18 2016-17 Opening balance 5.52 15.00 Add: Tax paid in advance, net of provisions during the year 4.22 (9.48) Closing balance 9.74 5.52 (` lakhs) Particulars f) Current tax assets 59 e) Current tax liabilities
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