Page 200 - Kolte Patil AR 2019-20

Notes forming part of the Consolidated Financial Statements

NOTE 7 - DEFERRED TAX ASSETS / (LIABILITIES)
(H in Lakhs)
Recognized in/ Closing
Recognized in
Significant components of deferred tax assets As at the statement MAT Credit reclassified from balance
and liabilities April 01, 2019 entitlement other comprehensive as on
of profit or loss
income March 31, 2020
Deferred tax assets:

Employee benefits 473 (103) - (3) 367
Others 2 42 - - 44
Revenue recognition (at a point in time in the books
of accounts as against over time for the purpose of 15,156 (2,467) - - 12,689
calculation of income tax)
FVTPL of financial liabilities 1,378 (855) - - 523
Property, plant and equipment and intagiable assets 11 77 - - 88
Brought forward loss and unabsorbed depreciation 1,179 (523) - - 656
Effect on borrowing cost pursuant to application of
effective interest rate method 78 - - 78
MAT credit entitlement 475 - (177) 299
Total deferred tax assets 18,674 (3,751) (177) (3) 14,745

Deferred tax liabilities:
Property, plant and equipment and intagiable assets 247 (120) - - 127
Financial liabilities (borrowings) at amortised cost 133 (22) - - 111
FVTPL of financial instruments 63 (8) - - 55
Undistributed earnings 125 (125) - - -
Modification in terms/ Fair Valuation of Optionally - 55 55
Convertible Debentures
Revenue recognition (at a point in time in the books
of accounts as against over time for the purpose of 81 (81) - - -
calculation of income tax)
Others 486 (173) - - 313
Total deferred tax liabilities 1,135 (474) - - 661
Net deferred tax assets/(liabilities) 17,540 (3,276) (177) (3) 14,084

NOTE 8 - OTHER NON-CURRENT ASSETS
(H in Lakhs)
As at As at
Particulars March 31, 2020 March 31, 2019

(Unsecured, considered good)
(a) Advance / Security given for real estate development and suppliers 17,313 18,808
(b) Prepaid expenses 50 105
(c) Advances to related parties (Refer note 44) 429 412
Total 17,792 19,325

198 | Kolte-Patil Developers Limited