EFTA01366786.pdf

Amendment #4 Page 357 of 868 "Mr °Men" Tex rate reconcile:lob The applicable Indian statutory tax rate for the tax years ended 2015 and 2014 is 34 61% hcome tax expense differed from the amounts computed by applying Ite statutory Indian income tax rate 01 34 61% to prof4 before income taxes As of March 31‘ 2016 2014 Current tax — — Income tax at Irdian statutory rAe 34 61% 3461% Matisse (lOOLC1104) Al If?Carle Wee Irripact of tax roactays 45 15% 63 27% Mien _ 043% Effective tax rate 7976% 9831% SlonificeM compommt f deferred tame The significant components d deferred tax assets and AtiblitheS attributsole to income from operations for the quarters ended March 31, 2015 and 2014 are as follows As of March 31. As of December 31. 2016 2014 Deferred tax assets I Rebottles (WarredMx Labelled: Plant and equipment. prinopalty due to differences in deprecetcn 59857,446 52814041 Deemed tax assets Land, due to indexation benefits in tax 3227843 3227.940 Less valuaton allowance (322784(3) (3227840) Net deferred tax liabilities 69867,446 6,014,041 The Company has Leobsortexf deprecobon for roan income Inc purposes of INR 219734.54)as at March 31. 2015 and INR 204.880.652 as at December 31. 2014 and when are evadable to offset Muse taxable ncome, d any, over an termite period In addition, the Company has a nel operating ins carryforward of INR 128772.265 as at March 31. 2015 and Deserter 31, 2014 when's avertible to offset fuNre taxable income, if any. until Me tee year ended March 31. 2021 The Company has a tax holiday v.tch expires 15 years horn tie date ce crommissooning of the solar energy system and is available for a 10 year period starter? from the date on which the protect entity sleets darning the holiday The Company expects the tax holiday to apply from Apra 1 2017 throigh March 31, 2027 The tax holiday provides bra zero percent tax rate during the years t applies The Company hod a net expense as a result of the tax holiday due to the origination of taxable temporary differences expected to reverse after the expiation of the tax holday. while the related deductions are expected to be Woad dung he tax holiday period and mode no tax benefit There is no charge in valuation arowance dump the quarters ended March 31. 2015 and 2014 The 2015 and 2014 tax years remain open to exarnroton by tax authorises The Company does not rove any unrecognized tax benefits F-37 http://cfdocs.btogo. corn:27638/cf/dna/pub/edgar/2015/07/20/0001193125-15-256461/d78... 7/20/2015 CONFIDENTIAL - PURSUANT TO FED. R. GRIM. P. 6(e) DB-SDNY-0058314 CONFIDENTIAL SDNY_GM_00204498 EFTA01366786