161 (` lakhs) Note 26.3 (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 26.3 (D) Transactions with entities over which Key Management 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 26.3 (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 113.13 464.51 Atul Ltd 113.13 464.51 3 Payables 48.03 40.65 Atul Ltd 48.03 40.65 Note 26.3 (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. 3. All outstanding balances are unsecured and are repayable in cash and cash equivalents. Note 26.4 Current and deferred tax The major components of income tax expense for the years ended March 31, 2022 and March 31, 2021 are: a) Income tax expense recognised in the Consolidated Statement of Profit and Loss: (` lakhs) Particulars 2021-22 2020-21 i) Current tax Current tax on profit for the year 93.99 277.13 Adjustments for current tax of prior periods (1.50) (42.75) Total current tax expense 92.49 234.38 Note 26.3 Related party disclosures (continued)
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