123 Corporate Overview Performance Overview Financial Statements Governance Overview Statutory Reports c) The reconciliation between the statutory income tax rate applicable to the Company and the effective income tax rate of the Company is as follows: Particulars 2024-25 2023-24 a) Statutory income tax rate 25.17% 25.17% b) Differences due to: i) Non-deductible expenses 2.63% 5.07% ii) Income taxed at lower rate (0.69%) (0.16%) iii) Tax adjustment of earlier years (0.07%) (0.48%) iv) Others (0.41%) 0.11% Effective income tax rate 26.63% 29.71% d) Non-current income tax assets (net) (` lakh) Particulars As at March 31, 2025 As at March 31, 2024 Opening balance 32.63 30.55 Taxes paid in advance, (net of refund) (24.59) 2.08 Transfer to provisions - - Closing balance 8.04 32.63 e) Current tax liabilities (` lakh) Particulars As at March 31, 2025 As at March 31, 2024 Opening balance 2.17 - Add: Current tax payable for the year 255.03 100.20 Less: Taxes paid (237.47) (98.03) Closing balance 19.73 2.17 Note 27.4 Current and deferred tax (continued)
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