Page 315 - Tata_Chemicals_yearly-reports-2021-22

01 INTEGRATED 73 STATUTORY 178 FINANCIAL
STATEMENTS
REPORT
REPORTS
Consolidated

35. Income tax expense relating to continuing operations

` in crore
Year ended Year ended
Particulars
March 31, 2022 March 31, 2021
(a) Tax expense
(i) Current tax
In respect of the current year 297.15 224.40
In respect of earlier years (22.82) 1.39
274.33 225.79
(ii) Deferred tax
In respect of the current year (note 22) (7.85) (28.02)
(7.85) (28.02)
Total tax expense 266.48 197.77
(b) The income tax expenses for the year can be reconciled to the accounting profit as
follows:
Profit before tax from continuing operations 1,666.63 633.99
Income tax expenses calculated at 25.168 % (2021: 25.168 %) 419.46 159.56
(Company's domestic tax rate)
Differences in tax rates in foreign jurisdictions (8.16) 17.49
Share of profit of equity accounted investees (57.20) (6.62)
Effect of income that is exempt from taxation (6.92) (10.06)
Effect of not deductible expenses for tax computation (13.02) 8.61
Effect of concessions (research and development and other allowances) (53.89) (12.81)
Others 29.58 6.70
309.85 162.87
Adjustments recognised in the current year in relation to the current tax of prior years on (22.82) 1.39
account of completed assessments.
Alternative Minimum Tax - differential (21.56) 19.37
Effect of unused tax losses and tax offsets not recognised as deferred tax assets / Utilisation 1.01 14.14
Total income tax expense recognised for the year relating to continuing operations 266.48 197.77
36. Discontinued operations
(i) Exceptional gain from discontinued operations for the year ended March 31, 2022 is in respect of subsidy for previous years
pertaining to the erstwhile fertilizer business, which is received in the current period from the transferor pursuant to the
Business transfer agreement.

(ii) Share of (loss)/profit of joint ventures from discontinued operations (net of tax) includes (loss)/profit from Tata Industries
Limited (a joint venture of the Group).
37. Earnings per share

As at As at
Particulars
March 31, 2022 March 31, 2021
Basic and Diluted earnings per share (`)
From continuing operations (`) 49.17 10.06
From discontinued operations (`) 0.20 -
Total Basic and Diluted earnings per share (`) 49.37 10.06

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