62 (` lakhs) Outstanding balances as at year end March 31, 2020 March 31, 2019 1 Inter corporate deposit given 700.00 500.00 Atul Bioscience Ltd 700.00 500.00 2 Interest accrued but not due on inter corporate deposit given 0.01 7.85 Atul Bioscience Ltd 0.01 7.85 3 Trade payables 150.45 71.76 Rudolf GmbH 62.05 71.74 Atul Finserv Ltd 0.20 0.02 Rudolf Hub 88.16 - Atul Club 0.04 - 4 Provision for gratuity 3.59 4.59 Rudolf Atul Chemicals Ltd Employees Group Gratuity Assurance Scheme 3.59 4.59 Note 26.3 (D) Transactions with organisations over which significant influence exercised by joint venturer 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. 1Related Party relationship is as identified by the Company on the basis of information available with them and relied upon by the Auditors. Note 26.4 Current and deferred tax During the year the Company has 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 | laibilities have been recomputed and impact of this has been recognised in the Statment of Profit or Loss for the year ended March 31, 2020. The major components of income tax expense are: a) Income tax expenses recognised in the Statement of Profit and Loss (` lakhs) Particulars 2019-20 2018-19 i) Current tax Current tax on profit for the year 358.80 459.93 Adjustments for current tax of prior periods 6.13 - Total current tax expense 364.93 459.93 ii) Deferred tax Decrease | (Increase) in deferred tax assets (15.30) (4.74) Adjustments for deferred tax of prior periods due to change in statutory tax rate 0.31 - Total deferred tax expense | (benefit) (14.99) (4.74) Income tax expense 349.94 455.19
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