ICICI Bank 2013 Annual Report Download - page 165

F87
forming part of the Consolidated Accounts (Contd.)
schedules
` in million
Particulars Year ended
March 31, 2013
Actual Return on Plan Assets ....................................................................................................................... 1,223.1
Expected employer's contribution next year .............................................................................................. 1,097.4
Assumptions
Discount rate ................................................................................................................................................ 7.80%-8.00%
Expected rate of return on assets ................................................................................................................ 8.26%-8.95%
Discount rate for the remaining term to maturity of investments ............................................................. 7.91%-8.05%
Average historic yield on the investment .................................................................................................... 8.30%-8.86%
Guaranteed rate of return ............................................................................................................................ 8.50%
Experience adjustments
on plan assets ............................................................................................................................................... 17.3
on defined benefit obligations ..................................................................................................................... 24.2
Experience adjustment
` in million
Particulars At
March 31, 2013
Plan assets .................................................................................................................................................... 16,136.8
Defined benefit obligations .......................................................................................................................... 16,136.8
Amount not recognised as an asset (limit in para 59(b)) ............................................................................ —
Surplus/(deficit) ............................................................................................................................................ —
Experience adjustment on plan assets ........................................................................................................ 17.3
Experience adjustment on plan liabilities .................................................................................................... 24.2
The Group has contributed ` 1,731.5 million to provident fund including Government of India managed employees
provident fund for the year ended March 31, 2013 (March 31, 2012: ` 1,558.2 million), which includes compulsory
contribution made towards employee pension scheme under Employees Provident Fund and Miscellaneous Provisions
Act, 1952.
9. Provision for income tax
The provision for income tax (including deferred tax) for the year ended March 31, 2013 amounted to ` 34,797.6 million
(March 31, 2012: ` 27,428.6 million).
The Group has a comprehensive system of maintenance of information and documents required by transfer pricing
legislation under sections 92-92F of the Income Tax Act, 1961. The management is of the opinion that all international
transactions are at arm’s length so that the above legislation will not have material impact on the financial statements.
10. Deferred tax
At March 31, 2013 the Group has recorded net deferred tax asset of ` 26,806.0 million (March 31, 2012: ` 28,033.7
million), which has been included in other assets.
The following table sets forth, for the periods indicated, the break-up of deferred tax assets and liabilities into major
items.
` in million
Particulars At
March 31, 2013
At
March 31, 2012
Deferred tax asset
Provision for bad and doubtful debts ................................................................. 28,150.5 28,072.1
Capital loss ........................................................................................................... 63.1 79.5
Others .................................................................................................................. 2,871.8 3,853.9