Shriram City Union Finance Limited - Karvy

5. Deferred Tax Liabilities/(Asset) (Net)(Rs. in lacs)The breakup of deferred tax asset / liabilities is as under:- As at March 31,2010As at March 31,2009Deferred Tax LiabilitiesTiming difference on account of :Differences in depreciation in block of fixed assets as per tax booksand financial books92.32 881.85Gross Deferred Tax Liabilities (A) 92.32 881.85Deferred Tax AssetTiming difference on account of :Expenses disallowed under Income Tax Act, 1961 601.20 581.09Provision for hedging contracts 613.81 613.81Gross Deferred Tax Assets (B) 1,215.02 1,194.90Deferred Tax Liabilities/(Asset) (Net) (A-B) (1,122.70) (313.05)(Rs. in lacs)6. Capital commitmentsEstimated amount of contracts remaining to be executed on capital accountand not provided for (net of advances)As at March 31,2010As at March 31,20092.80 NIL(Rs. in lacs)As at March 31, As at March 31,7. Contingent Liabilities not provided for20102009Guarantees issued by the Company 6.81 6.81Guarantees issued by others 1,942.77 3,117.77Income Tax/Wealth Tax/Service Tax/Fringe Benefit TaxDisputed Income tax/Wealth Tax/Service Tax/Fringe Benefit Tax demands contested in appeal as on March 31 st ,2010 amount to Rs.1,553.08 lacs (March 31 st 2009: Rs.1,554.83 lacs. However provision is made in the books forany liability that may arise.F-71