MAHINDRA & MAHINDRA LTD. Standalone Accounts 311 (e) 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 01-04-2024 Acquisitions through business combinations [refer note 45 (B)] Recognised in Profit or Loss Recognised in OCI / Reclassified from other comprehensive income Balance as at 31-03-2025 Deferred tax liabilities Property, plant and equipment and Intangible assets..... 1,923.55 — 86.31 — 2,009.86 Others........................................................................................................... 188.06 — 74.53 — 262.59 (a) 2,111.61 — 160.84 — 2,272.45 Deferred tax assets Provision for employee benefits................................................ 251.61 — 6.06 20.51 278.18 Allowances for expected credit losses ................................ 83.46 — 12.90 — 96.36 Carried forward tax losses ........................................................... 19.75 — (19.75) — — Others........................................................................................................... 193.67 — 44.58 (3.22) 235.03 (b) 548.49 — 43.79 17.29 609.57 Net deferred tax assets / (liabilities)(net) ..................... (b)-(a) (1,563.12) — (117.05) 17.29 (1,662.88) Rupees crores Particulars Balance as at 01-04-2023 Acquisitions through business combinations [refer note 45 (B)] Recognised in Profit or Loss Recognised in OCI / Reclassified from other comprehensive income Balance as at 31-03-2024 Deferred tax liabilities Property, plant and equipment and Intangible assets..... 1,926.95 15.34 (18.74) — 1,923.55 Others........................................................................................................... 111.18 (0.05) 76.93 — 188.06 (a) 2,038.13 15.29 58.19 — 2,111.61 Deferred tax assets Provision for employee benefits................................................ 274.38 1.55 20.84 (45.16) 251.61 Allowances for credit losses ....................................................... 81.71 0.80 0.95 — 83.46 Carried forward tax losses ........................................................... 90.35 — (70.60) — 19.75 Others........................................................................................................... 121.40 1.91 68.90 1.46 193.67 (b) 567.84 4.26 20.09 (43.70) 548.49 Net deferred tax (liabilities) / assets(net) ............................. (b)-(a) (1,470.29) (11.03) (38.10) (43.70) (1,563.12) 22. Other Non Financial Liabilities Rupees crores Particulars Non-Current Current 2025 2024 2025 2024 Statutory dues (other than income taxes)........................................................................................ — — 3,621.37 3,086.13 Contract Liabilities............................................................................................................................................... 838.82 651.02 1,238.83 787.83 Others........................................................................................................................................................................... — — 292.20 320.54 Total ............................................................................................................................................................................ 838.82 651.02 5,152.40 4,194.50 Contract liabilities are expected to be recognised in revenue over a period of 5 years. Others mainly include salary deductions and TDS payable. There are no amounts due and outstanding to be credited to the Investor Education and Protection Fund. 21. Income Taxes (contd.)
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