v3.26.1
INCOME TAXES (Tables)
6 Months Ended
Sep. 30, 2025
INCOME TAXES [Abstract]  
Income Tax Provision
The income tax provision consisted of the following components:

 
For the six months ended
September 30,
 
2025
2024
Current income tax expense
$—
$
Deferred income tax benefit
77,138
Total income tax benefit
$—
$77,138
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 six months ended
September 30,
 
2025
2024
Loss before income tax benefit
$8,366,642
$1,225,393
Tax at applicable income tax rate (16.5%)
1,380,496
202,190
Tax effect of different tax rates in other jurisdictions
(376,714)
(120,430)
Tax effect on non-taxable income
315
26
Tax effect on non-deductible expenses
(142,672)
(4,648)
Tax effect on tax losses not recognized
(976)
Tax effect on change in valuation allowance
(860,449)
Income tax benefit
$
$77,138
Component of Deferred Tax Assets
As of September 30, 2025 and March 31, 2025, the significant components of the deferred tax assets were summarized below:

 
As of
 
September 30,
2025
March 31, 2025
Net operating loss carried forward
$1,239,510
$614,768
Temporary difference from share-based compensation expenses
1,233,828
848,574
Unrealized loss from the equity method investment
122,819
Others
2,635
19,236
Subtotal
2,598,792
1,482,578
Less: valuation allowance
(2,598,792)
(1,482,578)
Total deferred tax assets
$
$