Shriram City Union Finance Limited - Karvy

10. Deferred Tax Liabilities (Net)The break up of deferred tax asset / liabilities is as under:- As at March 31,2008(Rs. in Lacs)As at March 31,2007Deferred Tax LiabilitiesTiming difference on account of :Differences due to accelerated amortisation of intangiblesunder Income Tax ActDifferences in depreciation in block of fixed assets as per taxbooks and financial books- 7.071,495.39 1,657.12Effect of lease accounting - 788.47Others - 530.84Gross Deferred Tax Liabilities (A) 1,495.39 2,983.50Deferred Tax AssetTiming difference on account of :Expenses disallowed under Income Tax Act, 1961 586.51 10.18Provision for securitizationProvision for hedging contracts 275.89 0.00Gross Deferred Tax Assets (B) 862.40 10.18Deferred Tax Liabilities (Net) (A-B) 632.99 2,973.32(Rs. in lacs)11. Capital CommitmentsEstimated amount of contracts remaining to be executed oncapital account and not provided for (net of advances)As at March 31,2008As at March 31,2007276.84 1,126.88(Rs. in lacs)12. Contingent Liabilities not provided forAs at March 31, As at March 31, 20072008Guarantees issued by the Company 6.81 6.81In respect of assets securitized NIL 16.69In respect of derivative transaction NIL 9.97F-104