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Income taxes
 12 Months Ended
Mar. 31, 2023
Income taxes

17. Income taxes

 

  A) (Loss)/Profit for the year before income taxes are as follows:

 

 Schedule of loss before income taxes

   March 31, 
   2021   2022   2023 
Domestic   64,737    (145,363)   (353,088)
Foreign operations   (1,195,519)   (320,193)   111,708 
Total   (1,130,782)   (465,556)   (241,380)

 

  B) The major components of income tax expense for the years ended 31 March, 2021, 2022 and 2023 are:

 

 

   2021   2022   2023 
   March 31, 
   2021   2022   2023 
Current Period   8,680    14,478    52,046 
Current income tax expenses   8,680    14,478    52,046 
                
Origination and reversal of temporary differences   55,416    2,428    (5,258)
Deferred tax (benefit)/ expense   55,416    2,428    (5,258)
Total income tax expenses as reported in statement of profit or loss   64,096    16,906    46,788 

 

 

  C) Reconciliation of tax expense and accounting profit multiplied by tax rate of each jurisdiction in which the Group operates

 

 

 

   2021   2022   2023 
   March 31, 
   2021   2022   2023 
Loss for the year*   (1,194,878)   (482,462)   (288,168)
Income tax expense/(reversal)   64,096    16,906    46,788 
Loss before income taxes   (1,130,782)   (465,556)   (241,380)
Expected tax expense at statutory income tax rate   (193,762)   (105,537)   32,760 
Non-deductible expenses   2,307    17,024    19,074 
Utilization of previously unrecognised tax losses   (1,181)   (13,134)   (42,671)
Current year losses for which no deferred tax asset was recognized   159,102    174,746    36,761 
Reversal of deferred tax assets recognised in earlier years   77,636    -    - 
Change in unrecognised temporary differences   17,297    (58,979)   209 
Effect of change in tax rate             (1,908)
Others   2,697    2,786    2,563 
Total income tax expense    64,096    16,906    46,788 

 

*Refer to Note A above for breakup of loss before tax into domestic (Parent Company) and foreign operations (subsidiaries).

 

The domicile of the Parent Company is Cayman Islands, wherein the applicable tax rate is Nil (March 31, 2022: Nil). The Group’s two major tax jurisdictions are India and Singapore with tax rates ranging between 25.17% to 26.00% (March 31, 2022: 25.17% to 31.20% and March 31, 2021: 25.17% to 31.20%) in India and 17% (March 31, 2022: 17% and March 31, 2021: 17%) in Singapore, that have been applied to profit or loss of the respective jurisdiction for determination of expected tax expense.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)