Amal Ltd | Annual Report 2023-24 Note 29.3 Related party disclosures (continued) (` lakhs) Note 27.3 (E) Outstanding balances As at March 31, 2024 As at March 31, 2023 1. Receivables 178.26 55.94 Atul Ltd 159.89 9.02 Amal Speciality Chemicals Ltd 18.37 46.92 2. Loans given - 1,699.00 Amal Speciality Chemicals Ltd - 1,699.00 3. Payables 93.62 84.16 Atul Ltd 14.05 44.11 Atul Infotech Ltd 1.90 - Amal Speciality Chemicals Ltd 77.67 40.05 Note 29.3 (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 equivalent. Note 29.4 Current and deferred tax The major components of income tax expense for the years ended March 31, 2024 and March 31, 2023, are: a) Income tax expense recognised in the Standalone Statement of Profit and Loss (` lakhs) Particulars 2023-24 2022-23 i) Current tax Current tax on profit for the year 100.20 51.96 Adjustments for current tax of prior periods (1.67) 8.88 Total current tax expense 98.53 60.84 ii) Deferred tax (Decrease) | Increase in deferred tax liabilities 3.64 3.25 Decrease | (Increase) in deferred tax assets 0.38 (0.45) Total deferred tax expense | (benefit) 4.02 2.80 Income tax expense 102.55 63.64
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