v3.25.2
INCOME TAXES (Tables)
12 Months Ended
Mar. 31, 2025
INCOME TAXES [Abstract]  
Income Tax Provision
The income tax provision consisted of the following components:

 
 
For the years ended March 31,
 
 
 
2025
   
2024
   
2023
 
Current income tax expense
 
$
    $    
$
 
Deferred income tax expense
   
(153,428
)
   
(439,934
)
   
(714,861
)
Total income tax expense
 
$
(153,428
)
 
$
(439,934
)
 
$
(714,861
)
Reconciliation of Effective Income Tax Rate and Provision
A reconciliation between the Group’s effective income tax rate and the provision under Hong Kong statutory tax rate is as follows:

    For the years ended March 31,  
   
 2025
   
 2024
   
 2023
 
(Loss) income before income tax expenses
 
$
(11,814,077
)
 
$
2,936,488
   
$
3,795,566
 
Tax at applicable income tax rate (16.5%)
   
(1,949,323
)
   
484,521
     
626,268
 
Tax effect of different tax rates in other jurisdictions
   
429,401
     
(76,256
)
   
(3,151
)
Tax effect on non-taxable income
   
(289
)
   
(404
)
   
(828
)
Tax effect on under (over) provision in respect of prior year, net
   
76,902
     
     
 
Tax effect on non-deductible expenses
   
114,159
     
32,073
     
92,572
 
Tax effect on change in valuation allowance
    1,482,578              
Income tax expense
 
$
153,428
 
$
439,934
   
$
714,861
 
Component of Deferred Tax Assets
As of March  31, 2025 and 2024, the significant components of the deferred tax assets were summarized below:

      
As of March 31,
 
   
2025
   
2024
 
Net operating loss carried forward
 
$
614,768
   
$
144,040
 
Share-based compensation
   
848,574
     
 
Others
   
19,236
     
8,743
 
Subtotal
   
1,482,578
     
152,783
 
Less: valuation allowance
   
(1,482,578
)
   

 
Net deferred tax assets
 
$
   
$
152,783