EFTA01367085.pdf

Amendment #4 Page 656 of 868 t Forme yam ended Deceit 31 2014 2013 atone tax at Wen statutory rate 34.61% 34.61% Increase (reduction) in ream taxes Impact of valuation allowance 1766% 1742% Impact cr tax roldays 30.12% (22 34%) Caws 194% (036)% &Mane tax benefit rale 8436% 2933% The impact of tax holiday is an expense of INR 1700015 for the year ended Deceoter 31, 2014 and a benefit of INR 43,244684 for the year ended December 31, 2013 Significant components of deferred tarts The sagnificant component of deferred tax assets and lititrItticrs for the year ended December 31, 2014 and Deoenter 31.2013 are as follows. As of December 31 2014 2013 Deferred tax assets lAnmum alternate tax erect 34,576107 31,563,604 Asset retrement obigattons 32.162935 24,662 144 Taal deferred tax assets 66,739,062 56,225,748 Deferred tax tobites Ftoperty and ecuomenl 199.340,166 152.202,434 Total deferred tax babbles 199,340,895 152,202,484 Valuation alowance 66,739,042 56.225.748 Na deferred tax habitues 199,346895 152,202464 The Cameron have imateorbed depeaabon for inian ircome tax purposes d RJR 595868,456 as at December 31, 2014 and INR 503,436,284 as at December 31, 2013 wt ch are available to ofbet future taxable income, deny, over an indefirrte period. A deferred tax asset has rot been recognized since the amourts are forecasted to be utilized dunng the Comparses' tax babday mats. The Compenee have a minimum alternate tax aedt d INR 34.576.107 as at December 31.2014 and INR 31,563,604 as at December 31. 2013 which are available to offset ft.ture taxes and expre during the penod from March 31. 2019 to March 3t. 2022 The minimum alternate tax rate is 1905%. The Companies have a tax holiday what expees 15 years from the date of cornmescining of the wind energy system and is available for a 10 year period staring from the date on which the protect sally starts claiming the holiday The tax holday provides for a zero percent tax rate dung the years t appies The 10 year tax holiday periods apply from March 31, 2012, Match 31, 2015 and Alston 31. 2018 for GEI. ENRE and ENWP, respectively The tax holiday ends on March 31, 2022, March 31, 2025 and March 31, 2028 for GEI, ENRE and ENWP. respectneff, The Companes had a net expense in 2014 as a result d the tax holday due to the ongnabon of taxable temporary differences expected to reverse after the expiation of the tax holiday, while me related decks:tors are expectedto be utezed dunrg ire tax holiday period and provide no tax benefit Carryforward imabecrbed depreciation of INR 17.312,988 was utilized by ENRE during be year ended December 31, 20131e poor to its tax holday period F-336 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-0058613 CONFIDENTIAL SDNY_GM_00204797 EFTA01367085