CONSOLIDATED ACCOUNTS 407 (f) Deferred tax assets/ (liabilities) (net) The amount of the deferred tax assets and liabilities recognised in the balance sheet are as below: Rupees crores Particulars Balance as at 1st April, 2023 Recognised in profit or loss Recognised in OCI Recognised in Equity Recognised in business combination/ disposal of subsidiaries Foreign exchange translation differences Balance as at 31st March, 2024 Deferred tax liabilities Property, plant and equipment and intangible assets .................................................................................................... 2,035.20 (12.37) — — 45.04 (1.01) 2,066.86 Undistributed profit of associate ...................................... 88.71 29.25 (20.84) 7.56 — — 104.68 Others.................................................................................................... 123.73 122.60 (0.99) — (2.35) (0.58) 242.41 (a) 2,247.64 139.48 (21.83) 7.56 42.69 (1.59) 2,413.95 Deferred tax assets Provision for employee benefits......................................... 348.89 20.42 (43.45) — (0.32) (1.73) 323.81 Allowances for expected credit loss/net change in fair value of debt instruments at FVTOCI .................. 990.79 27.28 (17.90) — — 0.57 1,000.74 Carryforward tax losses........................................................... 281.43 93.09 — — 0.54 0.10 375.16 MAT credit ........................................................................................... 1.45 (0.83) — — — — 0.62 Unrealised gain on inter-company transactions (net)......................................................................................................... 153.58 34.72 — — — — 188.30 Others.................................................................................................... 478.32 (145.78) 0.56 — 0.20 (1.12) 332.18 (b) 2,254.46 28.90 (60.79) — 0.42 (2.18) 2,220.81 Net deferred tax asset/(liabilities) (b-a) ...................... 6.82 (110.58) (38.96) (7.56) (42.27) (0.59) (193.14) Rupees crores Particulars Balance as at 1st April, 2022 Recognised in profit or loss Recognised in OCI Recognised in Equity Recognised in business combination/ disposal of subsidiaries Foreign exchange translation differences Balance as at 31st March, 2023 Deferred tax liabilities Property, plant and equipment and intangible assets...................................................................................................... 2,633.47 (0.91) — — (593.24) (4.12) 2,035.20 Undistributed profit of associates....................................... 67.65 15.88 16.29 (11.11) — — 88.71 Others..................................................................................................... 113.70 (2.44) 2.89 — 9.88 (0.30) 123.73 (a) 2,814.82 12.53 19.18 (11.11) (583.36) (4.42) 2,247.64 Deferred tax assets Provision for employee benefits.......................................... 274.36 34.05 40.41 — (2.86) 2.93 348.89 Allowances for expected credit loss/net change in fair value of debt instruments at FVTOCI ................... 1,282.85 (279.58) 23.95 — (37.02) 0.59 990.79 Carryforward tax losses............................................................ 635.52 122.45 — — (478.78) 2.24 281.43 MAT credit............................................................................................ 41.69 4.04 — — (44.28) — 1.45 Unrealised gain on inter-company transactions (net).......................................................................................................... 93.56 106.59 — — (46.57) — 153.58 Others..................................................................................................... 425.05 81.27 0.03 — (25.15) (2.88) 478.32 (b) 2,753.03 68.82 64.39 — (634.66) 2.88 2,254.46 Net deferred tax assets/(liabilities) (b-a)...................... (61.79) 56.29 45.21 11.11 (51.30) 7.30 6.82 13. Income taxes (Continued)
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