Deferred tax liabilities (net) – Annual Report 2023

Balance Sheet Note_17

17 Deferred tax liabilities (net)
(₹ In Crore)
Particulars	As at 31 March
Particulars	2023	2022

Deferred tax liabilities
On account of timing difference in
Property, plant and equipment	149.60	116.03

Employee benefits:
Defined benefit plans provisions – P&L	9.67	15.65
Defined benefit plans provisions – OCI	0.42	0.41

Financial instruments:
Mutual funds including fixed maturity plans, ETFs	152.30	247.12
Fair valuation of derivative hedging contracts	–	20.27
Financial assets at FVTOCI	117.17	80.75
	269.47	348.14
Gross deferred tax liabilities	429.16	480.23
Deferred tax assets
On account of timing difference in
Employee benefits:
Welfare scheme costs and others	0.34	0.47
Bonus provisions	1.72	1.72
Provision for privilege leave etc.	33.89	32.10
Defined benefit plans provisions – OCI	14.21	13.67
	50.16	47.96
Financial instruments:
Amortisation of discount on acquisition of fixed income securities	9.86	4.82
	9.86	4.82
Other items:
Provision for bad/doubtful debts and advances	11.89	12.02
Taxes, duties, others etc.	12.10	12.10
	23.99	24.12
Gross deferred tax assets	84.01	76.90
	345.15	403.33

Movement in deferred tax liabilities (net):
(₹ In Crore)
Particulars	Property, plant and equipment	Financial instruments	Employee benefits	Other items	Total

At 31 March 2021	125.36	452.66	(30.63)	(25.25)	522.14
Charged/(credited)
– to profit and loss	(9.33)	(166.66)	(5.79)	1.13	(180.65)
– to other comprehensive income	–	57.32	4.52	–	61.84
At 31 March 2022	116.03	343.32	(31.90)	(24.12)	403.33
Charged/(credited)
– to profit and loss	33.57	(99.86)	(7.64)	0.15	(73.78)
– to other comprehensive income	–	16.15	(0.53)	(0.02)	15.60
At 31 March 2023	149.60	259.61	(40.07)	(23.99)	345.15