Income Tax (Tables)
|
12 Months Ended |
Mar. 31, 2025 |
|---|
| Income Tax [Abstract] |
|
| Schedule of Income Tax |
Income tax consists of the
following for the years ended March 31, 2025, March 31,2024 and March 31,2023:
| | |
For the
year ended
March 31,
2025 | | |
For the
year ended
March 31,
2024 | | |
For
the
year ended
March 31,
2023 | |
| | |
(US$) | | |
(US$) | | |
(US$) | |
| Tax expenses | |
| | |
| | |
| |
| - For current year | |
$ | 108,382 | | |
$ | 119,238 | | |
$ | 387,407 | |
| - Short provision of earlier year | |
| 12,265 | | |
| — | | |
| — | |
| Deferred tax (benefit) / expense | |
| 11,507 | | |
| 28,241 | | |
| 135,640 | |
| Income tax expense | |
$ | 132,154 | | |
$ | 147,479 | | |
$ | 523,047 | |
|
| Schedule of Consolidated Statement of Comprehensive Income |
Consolidated statement of comprehensive income
| | |
For the
year ended
March 31,
2025 | | |
For the
year ended
March 31,
2024 | | |
For the
year ended
March 31,
2023 | |
| | |
(US$) | | |
(US$) | | |
(US$) | |
| Deferred tax related to item charged directly to equity: | |
| | |
| | |
| |
| Net loss/(gain) on translations of foreign subsidiaries | |
$ | 478 | | |
$ | 27,701 | | |
$ | 72,663 | |
| Total | |
$ | 478 | | |
$ | 27,701 | | |
$ | 72,663 | |
|
| Schedule of Other Comprehensive Income or Equity |
The tax associated with such an item is also recognized in other comprehensive income or equity respectively.
| | |
As of
March 31,
2025 | | |
As of
March 31,
2024 | | |
As of
March 31,
2023 | |
| | |
(US$) | | |
(US$) | | |
(US$) | |
| Accounting profit before tax | |
$ | 961,566 | | |
$ | 800,653 | | |
$ | (1,112,790 | ) |
| Less: Net profit/(loss) of the Lytus BVI and non-taxable loss/(profit) of GHSI | |
| (324,502 | ) | |
| 114,296 | | |
| (3,134,953 | ) |
| Net Accounting profit | |
| 1,286,069 | | |
| 686,357 | | |
| 2,022,163 | |
| At Indian statutory income tax rate of 25.17% | |
| 323,678 | | |
| 224,878 | | |
| 508,979 | |
| Accelerated tax depreciation | |
| (98,194 | ) | |
| (131,667 | ) | |
| (139,328 | ) |
| Others mainly timing differences | |
| (100,026 | ) | |
| 19,728 | | |
| 27,474 | |
| Exchange differences | |
| (4,811 | ) | |
| 6,299 | | |
| (9,718 | ) |
| Current income tax expense reported on consolidated statements of profit or loss and other comprehensive income | |
$ | 120,647 | | |
| 119,238 | | |
$ | 387,407 | |
|
| Schedule of Financial Statement |
Reflected in the financial statement of financial
position as follows:
| | |
As of
March 31,
2025 | | |
As of
March 31,
2024 | | |
As of
March 31,
2023 | |
| | |
(US$) | | |
(US$) | | |
(US$) | |
| Opening balance | |
$ | 160,266 | | |
| 399,174 | | |
| 3,305,308 | |
| Acquired in business combination | |
| — | | |
| — | | |
| 121,319 | |
| Income tax accrual - | |
| | | |
| | | |
| | |
| - of current year | |
| 108,382 | | |
| 119,238 | | |
| 387,407 | |
| - Short provision of previous year | |
$ | 12,265 | | |
| — | | |
| — | |
| Adjustment on account of modifications | |
| | | |
| | | |
| (3,399,850 | ) |
| Exchange rate difference | |
| (3,331 | ) | |
| (3,565 | ) | |
| (15,010 | ) |
| Taxes paid/adjustments | |
| (183,885 | ) | |
| (354,581 | ) | |
| — | |
| Closing balance of current income taxes payables | |
$ | 93,698 | | |
$ | 160,266 | | |
$ | 399,174 | |
|
| Schedule of Deferred Tax |
Deferred tax relates to the
following temporary differences:
| | |
As of
March 31,
2025 | | |
As of
March 31,
2024 | | |
As of
March 31,
2023 | |
| | |
(US$) | | |
(US$) | | |
(US$) | |
| Deferred tax assets | |
| | |
| | |
| |
| Temporary timing differences | |
$ | 68,858 | | |
$ | 70,463 | | |
$ | (22,878 | ) |
| Exchange rate difference | |
| 10,596 | | |
| — | | |
| | |
| Foreign currency translations of foreign subsidiary | |
| — | | |
| — | | |
| 126,624 | |
| Total deferred tax assets (A) | |
$ | 79,454 | | |
$ | 70,463 | | |
$ | 103,746 | |
| Deferred tax liabilities | |
| | | |
| | | |
| | |
| Accelerated depreciation on tangible and intangible assets | |
$ | 5,06,651 | | |
$ | 498,112 | | |
$ | 1,625,271 | |
| Acquired in business combination | |
| — | | |
| — | | |
| 295,177 | |
| Temporary differences | |
| — | | |
| — | | |
| 9,929 | |
| Reversed in deconsolidation/Modification of contracts | |
| | | |
| | | |
| (1,533,644 | ) |
| Exchange rate difference | |
| — | | |
| — | | |
| 8,963 | |
| Foreign currency translations of foreign subsidiary | |
| 478 | | |
| (3,381 | ) | |
| 72,663 | |
| Total deferred tax liabilities (B) | |
$ | 507,129 | | |
$ | 494,731 | | |
$ | 478,359 | |
| | |
| — | | |
| — | | |
| — | |
| Total Net Deferred Tax Liabilities (B-A) | |
$ | 427,675 | | |
$ | 424,268 | | |
$ | (374,613 | ) |
|
| Schedule of Reconciliation of Deferred Tax (Liabilities)/Asset Net |
Reconciliation of deferred tax (liabilities)/asset
net:
| | |
As of
March 31,
2025 | | |
As of
March 31,
2024 | | |
As of
March 31,
2023 | |
| | |
(US$) | | |
(US$) | | |
(US$) | |
| Opening balance | |
$ | (424,268 | ) | |
$ | (374,613 | ) | |
$ | (1,407,020 | ) |
| Tax expense during the period recognized in profit & loss | |
| (11,507 | ) | |
| (131,677 | ) | |
| (135,640 | ) |
| Exchange rate difference | |
| 10,596 | | |
| (6,134 | ) | |
| (37,613 | ) |
| Tax expenses during the period recognized in other comprehensive income | |
| (2,496 | ) | |
| 39,771 | | |
| (72,663 | ) |
| Temporary timing differences | |
| — | | |
| 195,100 | | |
| 3,084,267 | |
| Reversed on deconsolidation of a subsidiary | |
| — | | |
| (146,715 | ) | |
| (1,510,767 | ) |
| Acquired in business combination | |
| — | | |
| — | | |
| (295,177 | ) |
| Total deferred tax (liabilities)/assets net | |
$ | (427,675 | ) | |
$ | (424,268 | ) | |
$ | (374,613 | ) |
|