v3.26.1
Taxation (Tables)
 12 Months Ended
Mar. 31, 2026
Income Tax Disclosure [Abstract]  
Schedule of components of loss before income taxes

The components of the loss before income taxes are as follows:

 

          
   For the years ended March 31, 
   2026   2025   2024 
PRC   6,478,687    1,492,557    5,114,375 
Non PRC  $2,020,366    1,433,432   $97,930 
Total loss before income tax expenses - Continuing operations  $8,499,053   $2,925,989   $5,212,305 
                
Total loss/(income) before income tax expenses - Discontinued   —    4,602,415    (462,886)
Schedule of current and deferred portions of income tax (expense)/credit

The current and deferred portions of income tax (expense)/credit included in the consolidated statements of loss were as follows:

 

          
   For the years ended March 31, 
   2026   2025   2024 
Current            
-    PRC   —    (53,048)   — 
-    Non PRC   —    —    — 
Total current tax expense  $—   $(53,048)  $— 
                
Deferred               
-    PRC   —    —    27,273 
-    Non PRC   —    —    — 
Total deferred tax credit  $—   $—   $27,273 
Income tax (expense)/credit  $—   $(53,048)  $27,273 
Schedule of income tax paid by jurisdiction

Income tax paid by jurisdiction is as follows:

 

Income tax paid            
   For the years ended March 31, 
Income tax paid   2026    2025    2024 
                
-    PRC   6,442    23,723    — 
-    Non PRC   —    —    — 
Total income tax paid  $6,442   $23,723   $— 
Schedule of reconciliation between statutory income tax and effective tax

 

      Percent 
  

For the year ended

March 31, 2026

 
   Amount   Percent 
   USD     
Income before income taxes   (8,499,053)     
PRC statutory income tax rate   25%     

Income tax benefit computed at the PRC statutory tax rate of

25%

   (2,124,763)   25.0%
Domestic tax effects          
Effect of preferential tax rates   1,317,390    (15.5%)
Effect of non-tax deductible expenses and loss   72    (0.0%)
Change in valuation allowance   329,275    (3.9%)
Foreign tax effects          
Cayman Islands          
Statutory tax rate difference between PRC and other jurisdictions   475,202    (5.6%)
Hong Kong          
Statutory tax rate difference between PRC and other jurisdictions   562    (0.0%)
Effect of non-tax deductible expenses and loss   1,091    (0.0%)
Singapore          
Statutory tax rate difference between PRC and other jurisdictions   270    (0.0%)
Effect of non-tax deductible expenses and loss   574    (0.0%)
United States          
Statutory tax rate difference between PRC and other jurisdictions   52    (0.0%)
Effect of non-tax deductible expenses and loss   274    (0.0%)
Income tax expense   —    — 
Effective tax rate   —    — 

 

Deferred tax assets   1,161,878    — 
Valuation allowance   (1,161,878)   — 
Deferred tax assets, net of valuation allowance   —    — 
Deferred tax liability   —    — 
Deferred tax assets, net   —    — 
 
             
      For the years ended March 31,  
      2025       2024  
Income before income taxes   $ (2,925,989 )   $ (5,212,305 )
Tax rate     25 %     25 %
Provision for income taxes at statutory tax rate   $ (731,497 )   $ (1,303,076 )
Effect of tax-exempt entity     294,740       23,825  
Effect of previous year over-paid tax expenses     —       —  
Effect of non-tax deductible expenses and loss     166       25  
Effect of deductible prior year loss     —       —  
Effect of tax loss not recognized     37,488       187,292  
Effect of previous year over-accrued tax expenses     —       —  
Effect of investment (income)/loss not recognized     (2,768)       271  
Effect of impairment not recognized     454,919       1,064,390  
Income tax expense/(credit)   $ 53,048     $ (27,273 )

 

Deferred tax assets     1,580,716       1,195,951  
Valuation allowance     (1,580,716)       (1,195,951)  
Deferred tax assets, net of valuation allowance     —       —  
Deferred tax liability     —       —  
Deferred tax assets, net     —       —  
 
Schedule of net operating tax loss carryforwards

 

   Amount 
     
2027  $122,184 
2028   542,996 
2029   232,511 
2030   120,509 
2031   827,137 
Total  $1,845,337 
Schedule of taxes payable

Taxes payable consisted of the following:

 

       
   As of March 31, 
   2026   2025 
Income tax payable  $218,071   $216,539 
VAT payable   1,227    2,591 
Other tax payables   —    2,263 
Total  $219,298   $221,393