Heritage Foods Limited

Heritage Foods Limited 256 32. Income tax expense Particulars For the year ended 31 March 2021 31 March 2020 ( a ) Tax expense comprises of: Current income tax 516.40 185.94 Deferred tax expense/(bene fi t) 18.28 (32.48) Income tax expense reported in the Consolidated Statement of Pro fi t and loss 534.68 153.46 Particulars For the year ended 31 March 2021 31 March 2020 Income tax expense attributable to: Continuing operations 534.68 153.46 Discontinued operations - - 534.68 153.46 The major components of income tax expense and the reconciliation of expected tax expense based on the domestic e ff ective tax rate of the Holding Company at 25.168% (31 March 2020: 25.168%) and the reported tax expense in the Consolidated Statement of Pro fi t and Loss is as follows: Reconciliation of income tax expense and the accounting pro fi t/ ( loss ) multiplied by India’s tax rate: Particulars For the year ended 31 March 2021 31 March 2020 Pro fi t/ (loss) before tax from continuing operations 2,025.18 (1,533.77) Loss before tax from discontinued operations (7.49) (6.77) Expected income tax expense at the Indian tax rate 25.168% ( 31 March 2020: 25.168% ) 507.81 ( 387.72 ) Tax e ff ect of amounts which are not deductible/ ( taxable ) in calculating taxable income: E ff ect of deductions allowed under Chapter VI-A of the Income Tax Act, 1961 ("IT Act, 1961) (4.86) (7.29) E ff ect of expenses not deductible under the IT Act, 1961 18.03 1,295.57 E ff ect of income not subject to tax under the IT Act, 1961 (0.91) (741.82) E ff ect on adoption of Taxation Laws (Amendment) Ordinance, 2019 - (41.01) Others 14.61 35.73 Income tax expense 534.68 153.46 Summary of the signi fi cant accounting policies and other explanatory information (All amounts in ₹ millions, except share data and where otherwise stated)