| SCHEDULE OF PROVISION FOR INCOME TAXES |
The
provision for income taxes consisted of the following:
SCHEDULE
OF PROVISION FOR INCOME TAXES
| | |
2024 | | |
2025 | | |
2026 | |
| | |
Years ended March 31, | |
| | |
2024 | | |
2025 | | |
2026 | |
| | |
HKD | | |
HKD | | |
HKD | |
| Current | |
$ | 988,347 | | |
$ | 1,100,000 | | |
$ | 85,600 | |
| Deferred | |
| - | | |
| - | | |
| - | |
| | |
| | | |
| | | |
| | |
| Total income tax expense | |
$ | 988,347 | | |
$ | 1,100,000 | | |
$ | 85,600 | |
|
| SCHEDULE OF EFFECTIVE INCOME TAX RATE |
The
reconciliation of income tax rate to the effective income tax rate based on loss before income taxes for the years ended March 31, 2024,
2025 and 2026 are as follows:
SCHEDULE
OF EFFECTIVE INCOME TAX RATE
| | |
2024 | | |
2025 | | |
2026 | |
| | |
HKD | | |
HKD | | |
HKD | |
| Profit/(Loss) before income taxes | |
$ | 8,077,221 | | |
$ | 7,525,533 | | |
$ | (73,967,270 | ) |
| Statutory income tax rate | |
| 16.5 | % | |
| 16.5 | % | |
| 16.5 | % |
| Income tax benefit at statutory rate | |
| 1,332,741 | | |
| 1,241,713 | | |
| (3,660,705 | ) |
| Effect of two-tier tax regime | |
| | | |
| | | |
| | |
| Items not subject to taxes | |
| (165,000 | ) | |
| (165,000 | ) | |
| (353 | ) |
| Over/(Under) provision of tax | |
| - | | |
| 14,530 | | |
| 85,600 | |
| Tax loss from previous periods utilized | |
| (176,170 | ) | |
| - | | |
| - | |
| Temporary timing difference | |
| (3,224 | ) | |
| 8,757 | | |
| 3,661,058 | |
| | |
| | | |
| | | |
| | |
| Income tax expense | |
$ | 988,347 | | |
$ | 1,100,000 | | |
$ | 85,600 | |
|