Shriram City Union Finance Limited - Karvy

Annexure - XIIShriram City Union Finance LimitedStatement of Tax Shelter(Rs. in Lacs)ParticularsFor the year endedMarch 31For the year ended 31st March2011 2010 2009 2008 2007Profit as per accounting books(business) 36,060.09 27,225.86 17,973.53 12,698.46 7,943.32Profit as per accounting books(investments) 1,400.00Total profit as per accountingbooks 36,060.09 28,625.86 17,973.53 12,698.46 7,943.32Tax rate on business income 33.22% 33.99% 33.99% 33.99% 33.66%Tax rate on investment income 11.33%Tax on accounting profit 11,978.26 9,412.69 6,109.20 4,316.21 2,673.72Permanent DifferencesDonation 0.50 32.50 13.25 0.80Exempt Dividend Income (444.91) (56.47) (46.06) (65.27)Disallowance u/s 14A 500.00Capital gains on sale of fixed assets 2,193.38 2,797.00Others 13.94 200.00 0.20 24.34 15.52Sub Total (A) 14.44 2,448.47 (23.77) 2,788.53 (48.95)Temporary DifferencesDepreciation and Lease adjustments 0.03 (97.37) 1,804.92 859.39 516.21Service tax write off 783.14 173.41Provision for standard assets 1,714.89Leave Encashment, Gratuity &Bonus 68.30 25.75 7.97 140.16 23.38Derivative provision (546.62) 994.18 811.68Others 199.84 (0.42) (34.03) 14.42Sub Total (B) 1,436.44 (72.04) 2,807.07 2,560.34 727.42Net Adjustments (A+B) 1,450.88 2,376.43 2,783.30 5,348.87 678.47Tax Impact on Net Adjustments 481.95 559.42 946.04 1,818.08 228.37Total Taxation 12,460.21 9,972.11 7,055.25 6,134.29 2,902.09Current Tax Provision for the year 12,460.20 9,972.11 7,055.25 6,134.29 2,902.09Notes:-1. Profits after tax are often affected by the tax shelters which are available.2. Some of these are of a relatively permanent nature while others may be limited in point of time.3. Tax provisions are also affected by timing differences which can be reversed in future.F-43