EFTA01366867.pdf

Amendment #4 Page 438 of 868 !Air a Commi% Tor rate reconelltion The applicable Indian statutory tax rate for the tax quarter tided 2015 is 34 61% Income tax credit detmed nem the arrioirts computed by a pp/ong the statutory income tax rate of 34 61% to worm(Ices) before income taxes For the quarter ended March 314 2016 hcome tax at I Wien staMory rate 34 61% increase (redxtiv) in noire teat. impact of valuation allowance 1 37% imbed Cl tax nosdays 24 72% Effective tax benefit rate 60 70% Signifierf components of deemed taxes The 'ignorant oomporent of deterred tax assets and liabilities for the darter ended March 31. 2015 and year ended Deoember 31, 2014 are as follows As of March 31 As of December 31. 2016 2014 Deterred tax assets Asset retrement obligations 32019,614 32.162935 Taw deferred tar assets 32,919,614 32,162,935 Deferred tax la tithes Property and equcrnenl 170.069,839 199,340,885 Taal deferred tax betimes 170.069.839 199.340.895 Valuation allowance 170 32,06 919 9:8X 32,162935 Net deferred tax la:dries 199.340.895 Tha COMPana have unabsorbed depooabon for Indian Income tax piteous or INR 689.407.684 as at March 31, 2015 and INR 592.181412 as at March 31. 2014 which are available to offset future taxable income, if any. over an rider-irate period The Companies have a minimum atternate tax credit of NR 34.576,107 as at March 31. 2015 wretch are available to offset future taxes expire during the period from March 31. 2019 and March 31. 2022 Try mnirrum aTernate tax rate is 19.05%. A deferred tat asset has not been recognzed since the amounts are forecasted to be utikzed during the Companies' tax holiday periods and have no overall impact. The Canpaniers have a tax holiday which expires 15 years from the date of commssioning of the wind energy system aril is avaibble fora 10 year paned starting horn the date on which the project entity starts claiming tie holiday. The tax holiday provides for a zero percent tax rate Oaring the years it appaes The 10 year tax holiday periods apply from March 31. 2012. March 31. 2015 and March 31. 2018 for GEI. ENRE and ENVVR respectively The tax holiday was cn March 31, 2022, March 31. 2025 and March 31, 2028 for GEt. ENRE and EN1W. respectively. The change In valuation allowance is Ita 756.680 during the quarter ended March 31, 2015 The 2014 and 2013 tax years remain open to examnabon by tax authoribes F.118 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-0058395 CONFIDENTIAL SONY GM_00204579 EFTA01366867