annual-report-FY2020

262 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS The movement in provision for warranty and service coupon is as follows: Rupees crores Particulars Warranty Service coupons 2020 2019 2020 2019 Opening Balance............................................................................................... 595.55 528.55 154.76 189.89 Additional net provisions recognised during the year.................................. 265.63 297.38 77.93 115.90 Amounts utilised during the year.................................................................... (285.26) (262.88) (111.90) (156.29) Unwinding of discount..................................................................................... 38.22 32.50 10.08 5.26 Closing Balance ................................................................................................. 614.14 595.55 130.87 154.76 19. Income Taxes Deferred Tax (Assets)/Liabilities (Net) Rupees crores Particulars Balance as at 01-04-2019 Charge/(credit) to Profit or Loss Charge/(credit) to OCI Balance as at 31-3-2020 Tax effect of items resulting in taxable temporary differences Allowances on Property, Plant and Equipment and Intangible Assets........ 2,141.26 (375.18) — 1,766.08 Others................................................................................................................. 156.90 (91.84) — 65.06 Tax effect of items resulting in deductible temporary differences Provision for employee benefits...................................................................... (305.42) 71.30 (3.25) (237.37) Allowances for credit losses............................................................................. (46.37) (9.74) — (56.11) Long term capital losses................................................................................... (116.20) 29.37 — (86.83) Minimum Alternate Tax Credit........................................................................ (1,116.35) 1,116.35 — — Others................................................................................................................. (79.69) 48.24 (11.21) (42.66) Total Deferred Tax (Assets)/Liabilities (Net)............................................................... 634.13 788.50 (14.46) 1,408.17 Rupees crores Particulars Balance as at 01-04-2018 Charge/(credit) to Profit or Loss Charge/(credit) to OCI Balance as at 31-3-2019 Tax effect of items resulting in taxable temporary differences Allowances on Property, Plant and Equipment and Intangible Assets........ 1,750.78 390.48 — 2,141.26 Others................................................................................................................. 140.87 16.03 — 156.90 Tax effect of items resulting in deductible temporary differences Provision for employee benefits...................................................................... (201.41) (99.26) (4.75) (305.42) Allowances for credit losses............................................................................. (41.25) (5.12) — (46.37) Long term capital losses................................................................................... — (116.20) — (116.20) Minimum Alternate Tax Credit........................................................................ (1,246.71) 130.36 — (1,116.35) Others................................................................................................................. (125.04) 33.56 11.79 (79.69) Total Deferred Tax (Assets)/Liabilities (Net)............................................................... 277.24 349.85 7.04 634.13 Income Tax recognised in profit or loss Rupees crores Particulars 2020 2019 Current Tax: In respect of current year......................................................................................................................................... 876.10 1,344.19 In respect of prior years........................................................................................................................................... 120.88 (165.07) 996.98 1,179.12 Deferred Tax: In respect of current year origination and reversal of temporary differences................................................... 155.49 474.95 Effect of utilisation/ (recognition) of deferred tax on capital losses. .................................................................. 27.30 (116.20) Effect of change in tax rate due to switch to new tax regime (Refer note below)........................................... 599.14 — In respect of prior year............................................................................................................................................. 6.57 (8.90) 788.50 349.85 Total Income Tax recognised in profit or loss ........................................................................................................ 1,785.48 1,528.97 18. Provisions (contd.)