annual-report-FY2020

327 MAHINDRA & MAHINDRA LTD. INTEGRATED ANNUAL REPORT 2019-20 Year ended 31 st March, 2019 Rupees crores Particulars Opening Balance Recognised in Profit or Loss Recognised in equity for Ind AS 115 Recognised in OCI Recognised in Business combination/ Disposal of subsidiaries Foreign exchange translation differences Others Closing Balance Tax effect of items resulting in taxable temporary differences Fiscal allowances on property, plant and equipment and intangible assets......... 2,299.76 400.45 — — — (13.31) — 2,686.90 Undistributed profit of subsidiaries, associates and joint ventures............... 1,124.09 101.65 — 18.65 — — 108.13 1,352.52 Others..................................................... 88.48 (53.80) — 8.74 — 0.19 — 43.61 3,512.33 448.30 — 27.39 — (13.12) 108.13 4,083.03 Tax effect of items resulting in deductible temporary differences Provision for employee benefits.......... 275.45 224.20 — 9.94 — (0.21) — 509.38 Allowances for expected credit loss.... 870.89 (333.09) — (4.34) — (0.30) — 533.16 Carryforward tax losses......................... 184.31 197.06 — — — (1.26) — 380.11 MAT credit............................................. 1,302.26 (105.62) — — — — — 1,196.64 Unrealised gain on inter-company transactions (net)................................... 148.48 52.67 17.49 — — — — 218.64 Others..................................................... (14.88) (90.45) 688.91 (1.73) — (5.15) — 576.70 2,766.51 (55.23) 706.40 3.87 — (6.92) — 3,414.63 Net Deferred Tax Asset/(Liabilities)........ (745.82) (503.53) 706.40 (23.52) — 6.20 (108.13) (668.40) Balances of Deferred Tax Assets/Deferred Tax Liabilities are presented in Balance sheet as below : Rupees crores 2020 2019 Deferred Tax Assets (net).......................................................................................................................................... 1,290.53 1,502.91 Deferred Tax Liabilities (net).................................................................................................................................... 1,511.89 2,171.31 Net Deferred Tax Asset/(Liabilities) . ....................................................................................................................... (221.36) (668.40) 12. Other Assets (Non-Financial) Rupees crores Particulars Non Current Current 2020 2019 2020 2019 Capital Advances............................................................................................... 944.47 734.26 — — Balances with government authorities (other than current taxes).............. 664.14 846.75 1,278.16 2,266.71 Contract Assets ................................................................................................. — — 70.16 73.51 Deferred Acquisition Cost ............................................................................... 665.16 642.83 48.31 45.59 Others ................................................................................................................ 349.28 599.81 1,164.66 1,173.93 Total ................................................................................................................... 2,623.05 2,823.65 2,561.29 3,559.74 Others include advances to suppliers, prepaid expenses. Significant changes in Contract Assets during the year are as follows:- Particulars 2020 2019 Reclassification of opening balances of contract assets to trade receivables ..................................................... 77.88 96.46 Adjustments due to contract modification ............................................................................................................. 1.64 1.79 In addition to the contract balances disclosed above, the group has also recognised a deferred acquisition cost in relation to some of the long-term contracts. Particulars 2020 2019 Assets recognised from cost incurred to fulfil a contract .................................................................................... 713.47 688.42 Amortisation expenses recognised as cost of providing services during the period ......................................... 47.12 43.77 11. Current Tax and Deferred Tax (contd.)