Annual Report 2012 - National Savings Bank

222THE RESULTS OF A CHALLENGING YEARNOTES TO THE FINANCIAL STATEMENTS12. Other ExpensesBankGroupFor the year ended 31st December 2012 2011 2012 2011Rs. ‘000 Rs. ‘000 Rs. ‘000 Rs. ‘000Directors' emoluments 1,008 958 1,118 1,075Auditors' remunerations 3,336 3,184 3,803 3,375Professional and legal expenses 4,335 5,351 4,335 5,351Depreciation of property, plant and equipment 319,316 339,921 319,643 340,294Amortization of leasehold property 7,228 7,228 7,228 7,228Amortization of intangible assets 30,349 67,351 30,427 67,429Office administration and establishment expenses 1,208,576 1,025,117 1,212,035 1,028,660Others 687,174 671,431 649,075 639,070Total 2,261,322 2,120,541 2,227,664 2,092,48213. Income Tax ExpensesBankGroupFor the year ended 31st December 2012 2011 2012 2011Rs. ‘000 Rs. ‘000 Rs. ‘000 Rs. ‘000Current tax expensesCurrent year tax expenses 1,810,195 3,025,186 1,851,454 3,134,091Prior years' (Over)/Under provision - 99,017 1,523 104,011Deferred tax expensesTemporary differences (Refer Note 13(b)) 27,722 68,616 27,630 68,567Total 1,837,917 3,192,819 1,880,607 3,306,66913. a. Reconciliation of Tax ExpensesBankGroupFor the year ended 31st December 2012 2011 2012 2011Rs. ‘000 Rs. ‘000 Rs. ‘000 Rs. ‘000Profit before tax 6,169,259 9,254,681 6,221,286 9,411,069IFRS Adjustments - 302,722 - 331,938Adjusted profit for SLFRS 6,169,259 8,951,959 6,221,286 9,079,131Income tax for the period (Accounting profit @ 28%) 1,727,392 2,506,549 1,737,466 2,542,157Add: Tax effect of expenses that are not deductible for tax purposes 235,749 704,324 267,391 779,104(Less): Tax effect of expenses that are deductible for tax purposes 152,946 185,687 153,403 187,170Tax expense for the period 1,810,195 3,025,186 1,851,454 3,134,091NATIONAL SAVINGS BANK . ANNUAL REPORT 2012