MAHINDRA & MAHINDRA LTD. | Integrated Annual Report 2022-23

267 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS The reconciliation of estimated income tax expense at tax rate to income tax expense reported in profit or loss is as follows: Rupees crores Particulars 2023 2022 Profit before tax...................................................................................................................................................................................................................................... 8,130.78 6,147.98 Applicable Income tax rate.............................................................................................................................................................................................................. 25.17% 25.17% Expected income tax expense...................................................................................................................................................................................................... 2,046.35 1,547.32 Tax effect of adjustments to reconcile expected income tax expense to reported income tax expense: Effect of income exempt from tax / non taxable on compliance of conditions....................................................................................... (429.04) (361.65) Effect of income chargeable at specified tax rates....................................................................................................................................................... (164.56) (142.06) Effect of expenses/provisions not deductible in determining taxable profit............................................................................................... 340.21 216.92 Effect of utilisation/ (recognition) of deferred tax on capital losses................................................................................................................ (41.70) 23.15 Effect of net additional / (reversal) of provision in respect of prior years................................................................................................... (194.84) (10.59) Others............................................................................................................................................................................................................................................................. 25.72 5.01 Reported income tax expense ................................................................................................................................................................................................. 1,582.14 1,278.10 The amount and expiry period of unused capital losses for which no deferred tax asset is recognised in the Balance Sheet Rupees crores Expiry Period 2023 2022 More than Five Years........................................................................................................................................................................................................................... 3,078.66 — 22. Other Non Financial Liabilities Rupees crores Particulars Non-Current Current 2023 2022 2023 2022 Contract Liabilities............................................................................................................................................... 427.62 211.85 560.39 664.51 Others........................................................................................................................................................................... — — 3,017.82 2,281.69 Total Other Non Financial Liabilities ................................................................................................ 427.62 211.85 3,578.21 2,946.20 Others mainly include government dues, taxes payable, GST payable and salary deductions payable. There are no amounts due and outstanding to be credited to the Investor Education and Protection Fund. 23. Trade Payables Rupees crores Particulars 2023 2022 Total outstanding dues of micro enterprises and small enterprises................................................................................................................. 206.93 116.32 Total outstanding dues other than micro enterprises and small enterprises – Trade payable - Other than Micro and small enterprises ..................................................................................................................................... 16,028.39 11,919.29 – Acceptances............................................................................................................................................................................................................................................ 910.30 934.52 16,938.69 12,853.81 Total Trade Payables ........................................................................................................................................................................................................................ 17,145.62 12,970.13 21. Income Taxes (contd.)