Amal Ltd | Annual Report 2021-22 Particulars 2021-22 2020-21 ii) Deferred tax (Decrease) | Increase in deferred tax liabilities (34.97) (20.41) Decrease | (Increase) in deferred tax assets (6.32) 7.34 Adjustments for deferred tax of prior periods due to change in statutory tax rate (0.17) (19.89) Total deferred tax expense | (benefit) (41.46) (32.96) Income tax expense 51.03 201.42 b) The reconciliation between the statutory income tax rate applicable to the Group and the effective income tax rate of the Group is as follows: Particulars 2021-22 2020-21 a) Statutory income tax rate 25.17% 25.17% b) Differences due to: i) Non-deductible expenses 4.48% 2.28% ii) Income taxed at lower rate (4.08)% (2.53)% iii) Tax adjustment of earlier years (0.45)% (3.94)% iv) Rate difference 0.00% (0.06)% v) Others 6.38% (2.28)% Effective income tax rate 31.50% 18.64% c) Income tax assets (net) (` lakhs) Particulars As at March 31, 2022 As at March 31, 2021 Opening balance 77.21 55.14 Taxes paid in advance (265.89) 256.46 Current tax provision (92.49) (234.38) Closing balance (281.17) 77.21 (` lakhs) Note 26.4 Current and deferred tax (continued)
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