NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024 (CONT’D) 34. INCOME TAX EXPENSE THE GROUP THE COMPANY 2024 2023 2024 2023 RM’000 RM’000 RM’000 RM’000 Current tax expenses 77,907 70,891 5,878 4,956 (Over)/Under provision in the previous financial year (85) 1,133 (7) 289 77,822 72,024 5,871 5,245 Deferred tax expenses (Note 14):- - Origination and reversal of temporary differences 6,803 (14,219) – – - Under/(Over) provision of deferred tax liabilities in the previous financial year 240 (55) – – - Over provision of deferred tax assets in the previous financial year 1,685 3 – – 8,728 (14,271) – – Sub-total 86,550 57,753 5,871 5,245 Real property gains tax 12 104 – – 86,562 57,857 5,871 5,245 A reconciliation of income tax expense applicable to the profit before taxation at the statutory tax rate to income tax expense at the effective tax rate of the Group and of the Company is as follows:- THE GROUP THE COMPANY 2024 2023 2024 2023 RM’000 RM’000 RM’000 RM’000 Profit before taxation 332,406 260,662 215,424 123,018 Tax at the applicable corporate tax rate of 24% (2023 - 24%) 79,777 62,559 51,701 29,524 Tax effects of:- Non-deductible expenses 2,720 4,573 3,150 69 Non-taxable income (311) (258) (48,973) (24,637) Share of results in joint venture 156 (436) – – Deferred tax assets not recognised during the financial year 6,664 1,985 – – Effects of differential in tax rates of subsidiaries (478) (237) – – (Over)/Under provision of Malaysian Income Tax in the previous financial year (85) 1,133 (7) 289 Under/(Over) provision of deferred tax liabilities in the previous financial year 240 (55) – – Over provision of deferred tax assets in the previous financial year 1,685 3 – – Deferred tax assets recognised in respect of previously unrecognised tax losses and unabsorbed capital allowances (3,818) (11,514) – – Income tax expense for the financial year 86,550 57,753 5,871 5,245 FINANCIAL STATEMENTS 191 INTEGRATED ANNUAL REPORT 2024
RkJQdWJsaXNoZXIy NDgzMzc=