FINANCIAL STATEMENTS | Standalone Accounts 341 (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 01-04-2025 Recognised in Profit or Loss Recognised in OCI/ Reclassified from other comprehensive income Balance as at 31-03-2026 Deferred tax liabilities Property, plant and equipment and Intangible assets.......................................... 2,009.86 65.68 — 2,075.54 Others................................................................................................................................................ 262.59 116.42 (8.72) 370.29 (a) 2,272.45 182.10 (8.72) 2,445.83 Deferred tax assets Provision for employee benefits..................................................................................... 278.18 69.26 17.31 364.75 Allowances for expected credit losses ..................................................................... 96.36 (2.23) — 94.13 Others................................................................................................................................................ 235.03 300.89 — 535.92 (b) 609.57 367.92 17.31 994.80 Net deferred tax assets / (liabilities) (net) ............................................................... (b)-(a) (1,662.88) 185.82 26.03 (1,451.03) Rupees crores Particulars Balance as at 01-04-2024 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 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 (liabilities) / assets (net) .......................................................................... (b)-(a) (1,563.12) (117.05) 17.29 (1,662.88) Pillar Two Income Taxes The OECD/G20 Inclusive Framework has introduced Pillar Two, which establishes a global minimum effective tax rate of 15% for multinational enterprise groups with consolidated revenues exceeding EUR 750 million. The Pillar Two framework is implemented through the Income Inclusion Rule (IIR), Undertaxed Profits Rule (UTPR) and Qualified Domestic Minimum Top up Tax (QDMTT) and is applicable from 1st January, 2024 or later, subject to enactment in relevant jurisdictions. Based on an assessment of consolidated revenues, the Group falls within the scope of Pillar Two. In accordance with the amendments to Ind AS 12 – Income Taxes, the Group has applied the mandatory temporary exception from recognising and disclosing deferred tax assets and liabilities arising from the implementation of the Pillar Two rules. Accordingly, no deferred tax assets or liabilities have been recognised in respect of Pillar Two. Any tax arising under these rules will be recognised as current tax expense in the period in which the liability is incurred. The Group operates across multiple tax jurisdictions with differing statutory tax rates and tax regimes, including incentives and exemptions, which may result in effective tax rates being close to or below the minimum threshold in certain jurisdictions. The Group has performed a preliminary assessment of its potential exposure and has evaluated the availability of QDMTT and transitional safe harbour provisions, where applicable. As at the reporting date, no material Pillar Two top up tax liability has been recognised. The Group will continue to evaluate the impact of the GloBE rules and will recognise any resulting tax obligations in future periods as the assessments are finalised and obligations crystallised. 21. Income taxes (contd.)
RkJQdWJsaXNoZXIy NTE5NzY=