v3.26.1
INCOME TAXES
 12 Months Ended
Mar. 31, 2026
Income Tax Disclosure [Abstract]  
INCOME TAXES

10. INCOME TAXES

 

Income taxes

 

The provision for income taxes differs from that computed at combined corporate tax rate of approximately 26% as follows:

 

Income before income taxes

 

The components of loss before income taxes by tax jurisdiction were as follows:

 

 

  

Year ended

March 31, 2026

  

Year ended

March 31, 2025

 
Jurisdiction  $   $ 
United States   (1,798,285)   (7,498,139)

Canada

   (765,832)   (923,040)
Loss before income taxes   

(2,404,139

)   

(8,421,179

)

 

Income tax expense (benefit)

 

The provision (benefit) for income taxes differs from the amount computed by applying the Company’s combined federal and state statutory income tax rate of approximately 26% to loss before income taxes as follows:

 

Description  2026 Amount   2026 Rate   2025 Amount   2025 Rate 
Tax at Statutory rate   (625,076)   (26.0)%   (2,189,707)   (26.0)%
Non-deductible expenses   259,068    10.8%   1,322,198    15.7%
Other temporary differences   (12,025)   (0.5)%   (988)   _
Change in valuation allowance   378,033    15.7%   868,497      
Income tax expense (benefit)   -    0%   -    0%

 

Deferred tax assets

 

  

As at

March 31, 2026

  

As at

March 31, 2025

 
   $   $ 
Non-capital loss carry forwards   19,550,273    19,078,653 
Other temporary differences   14,646    3,803 
Valuation allowance   (19,564,919)   (19,082,456)
Deferred tax assets   —    — 

 

 

BIOTRICITY INC.

Notes to Consolidated Financial Statements

Years ended March 31, 2026 and 2025

(Expressed in US Dollars)

 

As of March 31, 2026 and 2025, the Company decided that a valuation allowance relating to the above deferred tax assets of the Company was necessary, largely based on the negative evidence represented by losses incurred and a determination that it is not more likely than not to realize these assets, such that, a corresponding valuation allowance, for each respective period, was recorded to offset deferred tax assets.

 

As of March 31, 2026 and 2025, the Company has approximately $75,193,358 and $73,379,434, respectively, of non-capital losses available to offset future taxable income. These losses will expire between 2035 to 2039.

 

As of March 31, 2026, and 2025 the Company was not subject to any uncertain tax positions.