Current tax

Current tax on profits for the year

Deferred tax

Decrease/(increase) in deferred tax assets

(Decrease)/increase in deferred tax liabilities

Total deferred tax expense/(benefit)

Tax expenses

Profit before tax

Tax at the Indian tax rate of 25.17% (Previous year – 25.17%)

Tax effect of amounts which are not deductible (taxable) in calculating taxable income:

–    Corporate social responsibility expenditure

–    Rate difference in amortisation of fixed income securities

–    Others

–    One time impact due to change in tax rates *

Tax effect of amounts which are deductible (non taxable) in calculating taxable income:

–    Profits of subsidiaries not taxable in India

–    Dividend received on strategic investment

–    Profit on investments not taxable

–    Income from fair valuation of mutual funds

–    Disallowance of expenditure incurred on rented property (net)

Tax expense