Schedule of Income Tax Expenses |
For the years ended March 31, 2025, 2024 and 2023,
income tax expenses consisted of the following:
| |
For the years ended March 31, | |
| |
2025 | | |
2024 | | |
2023 | |
| |
| | |
| | |
| |
Current income tax provision | |
$ | - | | |
$ | - | | |
$ | - | |
Deferred income tax provision | |
| - | | |
| - | | |
| - | |
Total income tax | |
$ | - | | |
$ | - | | |
$ | - | |
|
Schedule of Reconciliation of Income Tax Expense |
The following is a reconciliation of the Company’s
total income tax expense to the amount computed by applying the PRC statutory income tax rate of 15% to its income from operations before
income taxes for the years ended March 31, 2025, 2024 and 2023.
| |
For the years ended March 31, | |
| |
2025 | | |
2024 | | |
2023 | |
| |
| | |
| | |
| |
Loss before income taxes | |
$ | (3,303,652 | ) | |
$ | (3,098,532 | ) | |
$ | (5,934,772 | ) |
Income tax expense at the PRC statutory rate | |
| (495,548 | ) | |
| (404,481 | ) | |
| (653,066 | ) |
Non-deductible expenses | |
| 239,939 | | |
| 54,477 | | |
| 226,003 | |
Deductible research and development expenses | |
| (46,707 | ) | |
| (27,629 | ) | |
| (29,497 | ) |
Deferred tax provision | |
| (1,441,907 | ) | |
| (1,250,105 | ) | |
| (876,804 | ) |
Valuation allowance for deferred tax assets | |
| 1,441,907 | | |
| 1,250,105 | | |
| 876,804 | |
Effect of income tax rate differences in jurisdictions other than the PRC | |
| 302,316 | | |
| 377,633 | | |
| 456,560 | |
Total income tax expenses | |
$ | - | | |
$ | - | | |
$ | - | |
|
Schedule of Deferred Income Tax Assets and Liabilities |
Significant components of the Company’s deferred income
tax assets and liabilities consist of follows:
| |
As of March 31, | |
| |
2025 | | |
2024 | |
| |
| | |
| |
Tax loss carry forward | |
$ | 901,032 | | |
$ | 905,574 | |
Credit loss provision for doubtful account - accounts receivable | |
| 312,366 | | |
| 261,656 | |
Credit loss provision for doubtful account – other receivable and other current assets | |
| 69,979 | | |
| 70,854 | |
Impairment provision for inventory | |
| 8,462 | | |
| 12,021 | |
Impairment provision for long-term deposit | |
| 150,068 | | |
| - | |
Valuation allowance for deferred tax assets | |
| (1,441,907 | ) | |
| (1,250,105 | ) |
Total | |
$ | - | | |
$ | - | |
|