EFTA01366980.pdf

Amendment #4 Page 551 of 868 Ishii' ('dined. 5. Income taxes Income faxes Income tax expense consists of the following Current Defined Total Year ended December 31, 3314 33003.468 33.803,468 Year ended December 31 2013 18,410 575 18 410,575 Tar rate reconciliation The applcade Indian statutory tax rate for the tax year ended 2014 and 2013 is 34 61% and 3399%, respectively hcome tax expense cheered from tne arrourts computed by applying me statuary Indian income tax rate of 34 61% to prof,' before income taxes As of December 31 2014 2013 Currant tax - - Intone tax at Vain statutory rate 34 61% 34 61% increase (reductor) in room& tares Impact of tax roadays 63 27% 321 27% lndexaton benerls cn land (4 67%) 130 86%) Valuation allowance 4 67% 3065% Criers 043% (10 27)% Effective lax rate 9631% 345 61% Significant component of deferred tans Tee signr5cant components ef deterred tax assets and liabilities attnbutable to income from operator's for the year ended December 31 2014 and December 31 2013 are as follows As of December 31. 2014 2013 Deferred tax assets r liabilities Deferred/a/ taattos Plant and equiprnere piinopally due to differences in deprecates 52014,041 18410.575 Deferred lax assets Land due to indexation tenetts in tax 3.227.940 1.832 737 Less veduatOn allowance (3237.040) (1,032.737) Net deferred tax Debilities 52,014,011 18,410.576 The Company has urateorted deprepaoon for Inclan income tax ptrrcees or INN 204 880.652 as at December 31 2014 and INR 142 405,580 as at December 31 2013 whet' are available to offset futise taxable income, if any over an sIdeforte period In acklhon the Company roe a net operating loss cairyfonvard of It ft 128 772,265 as at Decenter 31 2014 and 2013 when is evadable to offset future taxable income, it any. urld the tax year ended March 31, 2021 F-231 http://cfdocs.btogo.com:27638/cf/drv7/pub/edgar/2015/07/20/0001193125-15-256461/d78... 7/20/2015 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0058508 CONFIDENTIAL SDNY_GM_00204692 EFTA01366980