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

NOTE 13 — INCOME TAXES

 

The provision for income taxes consisted of the following:

 

   Year ended March 31, 
   2026   2025   2024 
   US$   US$   US$ 
Current tax   189,469    67,418    159,310 
Deferred income tax expenses   (15,646)   (14,663)   (14,663)
Income tax expenses   173,823    52,755    144,647 

Pursuant to the current rules and regulations, the BVI currently levy no taxes on individuals or corporations based upon profits, income, gains or appreciations and there is no taxation in the nature of inheritance tax or estate duty. Therefore, the Company is not subject to any income tax in the BVI.

 

K-Mark Technology is subject to Hong Kong profits tax at a rate of 16.5% on their taxable income generated from operations in Hong Kong before April 1, 2018. Starting from the financial year commencing on April 1, 2018, the two-tiered profits tax regime took effect, under which the tax rate is 8.25% for assessable profits on the first HKD 2 million and 16.5% for any assessable profits in excess of HKD 2 million (equivalent to US$255,630).

 

   Year ended March 31, 
   2026   2025   2024 
   US$   US$   US$ 
Income before tax expenses   345,230    540,712    1,073,176 
Tax expenses at applicable rates in Hong Kong profits at tax rate of 16.5%   56,963    89,217    177,074 
                
Tax reduction related to two-tiered profits tax regime   (21,158)   (21,219)   (21,089)
Tax incentives   (385)   (193)   (383)
Tax effect of non-taxable income   (15,487)   (15,050)   (10,955)
Tax effect of utilization of tax losses previously not recognised   74,401    
-
    
-
 
Under provision in prior financial years   79,489    
-
    
-
 
Income tax expense   173,823    52,755    144,647