Amal Ltd | Annual Report 2022-23 Note 27.3 Related party disclosures (continued) (` lakhs) Note 27.3 (E) Outstanding balances As at March 31, 2023 As at March 31, 2022 1. Preference shares - 172.37 Atul Ltd - 172.37 2. Receivables 55.94 121.80 Atul Ltd 9.02 113.13 Amal Speciality Chemicals Ltd 46.92 8.67 3. Loans given 1,699.00 2,202.00 Amal Speciality Chemicals Ltd 1,699.00 2,202.00 4. Payables 84.16 41.14 Atul Ltd 44.11 40.15 Amal Speciality Chemicals Ltd 40.05 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 dividendswere on the same terms and conditions that applied to other shareholders. 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, 2023 and March 31, 2022, are: a) Income tax expense recognised in the Standalone Statement of Profit and Loss (` lakhs) Particulars 2022-23 2021-22 i) Current tax Current tax on profit for the year 51.96 92.49 Adjustments for current tax of prior periods 8.88 - Total current tax expense 60.84 92.49 ii) Deferred tax (Decrease) | Increase in deferred tax liabilities 3.25 3.42 Decrease | (Increase) in deferred tax assets (0.45) (6.32) Total deferred tax expense | (benefit) 2.80 (2.90) Income tax expense 63.64 89.59
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