v3.26.1
Taxes
 12 Months Ended
Mar. 31, 2026
Taxes [Abstract]  
TAXES

Note 13 — TAXES

 

Income tax

 

Cayman Islands

 

The Company is incorporated in the Cayman Islands and is not subject to tax on income or capital gains under current Cayman Islands law. In addition, upon payments of dividends by the Company entities to their shareholders, no Cayman Islands withholding tax will be imposed. Accordingly, the Company do not accrue for taxes.

 

Singapore

 

The Company’s subsidiaries, Rectitude Pte Ltd, P.T.H. Pte Ltd and Alturan Supplies Pte Ltd are considered Singapore tax resident enterprises under Singapore tax laws; accordingly, they are subject to enterprise income tax on their taxable income as determined under Singapore tax laws and accounting standards at a statutory tax rate for the year ended March 31, 2026 of 17% (2024 and 2025: 17%).

 

The income tax provision consist of the following components:

 

    For the years ended March 31,  
    2024     2025     2026     2026  
    S$     S$     S$     US$  
Current income tax expense:                        
Singapore     792,207       219,952       1,160,339       899,436  
Foreign jurisdiction     —       —       —       —  
Total current income tax expense     792,207       219,952       1,160,339       899,436  
                                 
Effective tax rate     19.1 %     8.9 %     24.4 %     24.4 %

The following table reconciles Singapore statutory rates to the Company’s effective tax rate:

 

    For the years ended March 31,  
    2024     2025     2026     2026  
    S$     S$     S$     US$  
Income before tax     4,147,616       2,457,817       4,751,624       3,683,222  
Singapore statutory income tax rate     17 %     17 %     17 %     17 %
Income tax expense computed at statutory rate     705,095       417,829       807,776       626,148  
                                 
Reconciling items:                                
Income not subject to tax in Singapore     (40,126 )     (1,774 )     (56,287 )     (43,631 )
Non-deductible expenses     131,965       160,622       418,761       324,601  
Tax exemption and rebates     (43,760 )     (55,425 )     (34,850 )     (27,014 )
Utilization of prior year deferred tax assets not recognized     —       —       (296,743 )     (230,020 )
Under/(over) provision of tax in prior financial year     19,016       (205,399 )     321,682       249,352  
Others     20,017       (95,901 )     —       —  
Income tax expenses     792,207       219,952       1,160,339       899,436