Notice Statutory Reports Company Overview Financial Statements 65 Rudolf Atul Chemicals Ltd | Annual Report 2018-19 Note 25.3 (D) Transactions with organisations over which significant influence exercised 1 Sales to and purchases from related parties were made on normal commercial terms and conditions and at prevailing market prices or where market price is not available, at cost plus margin. 2 All outstanding balances are unsecured and are repayable in cash and cash equivalent. Note 25.4 Current and Deferred tax The major components of income tax expense are: a) Income tax expenses recognised in the Statement of Profit and Loss (` lakhs) Particulars 2018-19 2017-18 i) Current tax Current tax on profit for the year 459.93 484.13 Total current tax expense 459.93 484.13 ii) Deferred tax Decrease | (Increase) in deferred tax assets (4.74) 8.28 Total deferred tax expense | (benefit) (4.74) 8.28 Income tax expense 455.19 492.41 b) Income tax expenses recognised in the Statement of other comprehensive income Particulars 2018-19 2017-18 i) Current tax Remeasurement gain | (loss) on defined benefit plans 0.07 - Total current tax expense 0.07 - Income tax expense 0.07 - 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: Particulars 2018-19 2017-18 a) Statutory income tax rate 29.12% 34.61% b) Differences due to: i) Expenses not deductible for tax purposes 0.28% 0.35% ii) Others 0.38% 0.31% Effective income tax rate 29.78% 35.27% 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
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