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INCOME TAXES
 9 Months Ended
Apr. 30, 2025
INCOME TAXES  
INCOME TAXES

9. INCOME TAX

 

The profit from operation before income taxes of the Company for the nine months ended April 30, 2025 was comprised of the following:

 

 

 

For the nine

months ended

April 30, 2025

 

 

 

(Unaudited)

 

Tax jurisdictions from:

 

 

 

– Local

 

$7,348

 

 

 

 

 

 

Profit from operation before income tax

 

$7,348

 

Computed expected tax expenses

 

 

(1,764 )

Net profit

 

 

5,584

 

 

United States of America

 

The Company is registered in the State of Nevada and is subject to United States of America tax law. As of April 30, 2025, the operations in the United States of America incurred $15,798 of cumulative net operating losses (NOL’s) which can be carried forward to offset future taxable income. The NOL carryforwards begin to expire in 2045, if unutilized. The Company has provided for a full valuation allowance of approximately 3,318 against the deferred tax assets on the expected future tax benefits from the net operating loss carryforwards as the management believes it is more likely than not that these assets will not be realized in the future.

 

The following table sets forth the significant components of the aggregate deferred tax assets of the Company as of April 30, 2025 and July 31, 2024:

 

 

 

As of

April 30,

2025

 

 

As of

July 31,

2024

 

Deferred tax assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Net operating loss carryforwards

 

 

 

 

 

 

– United States of America

 

$3,318

 

 

$4,490

 

Less: valuation allowance

 

 

(3,318 )

 

 

(4,490 )

Deferred tax assets

 

$-

 

 

$-

 

 

Management believes that it is more likely than not that the deferred tax assets will not be fully realizable in the future. Accordingly, the Company provided for a full valuation allowance against its deferred tax assets of 3,318 as of April 30, 2025 and $4,490 as of July 31, 2024.

 

Malaysia

 

The incomes accruing in or derived from Malaysia by TriUnity Business Services Limited are subject to Malaysia income tax, due to the permanent establishment (PE) in Malaysia, which is charged at the non-resident tax rate of 24% on its assessable income.