MAHINDRA & MAHINDRA LTD. | Integrated Annual Report 2021-22

322 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS g) Unused tax credits Rupees crores Particulars 2022 2021 Expiry period More than five years........................................................................................................................................ 15.08 15.08 Total ................................................................................................................................................................... 15.08 15.08 h) Aggregate amount of temporary differences associated with investment in subsidiaries, associates and joint ventures for which deferred tax liability has not been recognised : Rupees crores Particulars 2022 2021 Undistributed earnings.................................................................................................................................... 17,085.84 16,495.78 Movement in deferred tax balances Year ended 31 st March, 2022 Rupees crores Particulars Opening Balance Recognised in Profit or Loss Recognised in OCI Recognised in Business combination/ Disposal of subsidiaries Foreign exchange translation differences Closing Balance Tax effect of items resulting in taxable temporary differences Fiscal allowances on property, plant and equipment and intangible assets........................................................ 2,233.76 412.97 — (2.72) (10.54) 2,633.47 Undistributed profit of associate.................................... 30.72 24.30 12.63 — — 67.65 Others................................................................................ 106.78 3.29 0.28 — 3.35 113.70 2,371.26 440.56 12.91 (2.72) (7.19) 2,814.82 Tax effect of items resulting in deductible temporary differences Provision for employee benefits..................................... 328.08 (16.54) (35.92) — (1.26) 274.36 Allowances for expected credit loss............................... 1,256.35 26.44 — — 0.06 1,282.85 Carried forward tax losses............................................... 436.58 199.89 — — (0.95) 635.52 MAT credit . ...................................................................... 32.34 9.35 — — — 41.69 Unrealised gain on inter-company transactions (net)..... 122.92 (29.36) — — — 93.56 Others................................................................................ 418.15 10.12 (0.46) — (2.76) 425.05 2,594.42 199.90 (36.38) — (4.91) 2,753.03 Net Deferred Tax Asset/(Liabilities) ..................................... 223.16 (240.66) (49.29) 2.72 2.28 (61.79) 13. Current Tax and Deferred Tax (contd.)