101 Note 27.3 Related party disclosures (continued) (` lakhs) Note 27.3 (C) Key Management Personnel compensation 2021-22 2020-21 Remuneration 18.15 16.65 1 Short-term employee benefits1 11.45 11.45 2 Sitting fees to Independent Directors 6.70 5.20 1Compensation excludes provision for gratuity and compensated absences since these are based on actuarial valuation on an overall company basis. (` lakhs) Note 27.3 (D) Transactionswith entities over which KeyManagement Personnel or their close family members have significant influence 2021-22 2020-21 Other transactions 1 Expenditure on Corporate Social Responsibility initiatives 26.25 26.65 Atul Foundation Trust 26.25 26.65 (` lakhs) Note 27.3 (E) Outstanding balances As at March 31, 2022 As at March 31, 2021 1 Preference shares 172.37 320.92 Atul Ltd 172.37 320.92 2 Receivables 121.80 469.01 Atul Ltd 113.13 464.51 Amal Speciality Chemicals Ltd 8.67 4.50 3 Payables 41.14 40.65 Atul Ltd 40.15 40.65 Amal Speciality Chemicals Ltd 0.99 - Note 27.3 (f) Terms and conditions 1. Sales to and purchases from related parties were made on normal commercial terms and conditions and at prevailing market prices or where market price is not available, at cost plus margin. 2. Transactions relating to dividends were on the same terms and conditions that applied to other shareholders. Subscriptions for new equity shares were on preferential basis. 3. All outstanding balances are unsecured and are repayable in cash and cash equivalent. Note 27.4 Current and deferred tax The major components of income tax expense for the years ended March 31, 2022 and March 31, 2021 are:
RkJQdWJsaXNoZXIy MjA2MDI2