Company Overview Financial Statements Notice Statutory Reports 63 Rudolf Atul Chemicals Ltd | Annual Report 2019-20 b) Income tax expenses recognised in the Statement of other comprehensive income (` lakhs) Particulars 2019-20 2018-19 i) Current tax Remeasurement gain | (loss) on defined benefit plans 0.32 0.07 Total current tax expense 0.32 0.07 Income tax expense 0.32 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 2019-20 2018-19 a) Statutory income tax rate 25.17% 29.12% b) Differences due to: i) Expenses not deductible for tax purposes 0.28% 0.28% ii) Others 0.49% 0.38% Effective income tax rate 25.95% 29.78% The Company has adopted the option available under Section 115 BAA of the Income Tax Act, 1961 accordingly statutory income tax rate is revised to 25.17%. 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. e) Current tax assets (` lakhs) Particulars 2019-20 2018-19 Opening balance 9.74 9.74 Add: Taxes paid 396.00 - Less: Current tax payable for the year (364.93) - Closing balance 40.81 9.74 f) Current tax liabilities (` lakhs) Particulars 2019-20 2018-19 Opening balance 16.17 2.84 Add: Current tax payable for the year - 460.00 Less: Taxes paid (12.75) (446.67) Closing balance 3.42 16.17
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