v3.26.1
Income Taxes (Tables)
12 Months Ended
Mar. 31, 2026
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit)

The components of the income tax expense (benefit) are as follows:

 

   2026   2025   2024 
   For the years ended March 31, 
   2026   2025   2024 
   USD   USD   USD 
Current               
Cayman Islands   -    -    - 
British Virgin Islands   -    -    - 
Hong Kong   211,105    -    649,119 
Current   211,105    -    649,119 
                
Deferred               
Cayman Islands   -    -    - 
British Virgin Islands   -    -    - 
Hong Kong   (197,270)   (80,154)   (183)
Deferred   (197,270)   (80,154)   (183)
                
Total   13,835    (80,154)   648,936 
Schedule of Deferred Tax Asset And Liability

 

   2026   2025 
   As of March 31, 
   2026   2025 
   USD   USD 
MSE:          
Net operating loss carryforward   281,951    281,951 
Total deferred tax assets   281,951    281,951 
Less: valuation allowance   (281,951)   (281,951)
Deferred tax assets, net   -    - 
           
MSHK:          
Property and equipment   (61,692)   (68,449)
Finance lease right-of-use assets, net   (12,996)   (16,982)
Operating lease right-of-use assets, net   

(6,746

)   - 
Operating lease liabilities   6,746    - 
Net operating loss carryforward   1,261,843    409,297 
Less: valuation allowance   (1,261,843)   (409,297)
Total deferred tax liabilities   (74,688)   (85,431)
Deferred tax assets - provision for allowance of credit losses   351,384    164,857 
Deferred tax assets, net   276,696    79,426 
           
Deferred tax assets, net   276,696    79,426 
Schedule of Income Tax Expense Reconciliation

 

   2026   2025   2024 
   For the years ended March 31, 
   2026   2025   2024 
   USD   USD   USD 
             
(Loss) Profit before income taxes   (5,749,910)   (5,810,905)   2,975,533 
Hong Kong Profits Tax rate   16.5%   16.5%   16.5%
Income taxes computed at Hong Kong Profits Tax rate   (948,735)   (958,799)   490,963 
                
Reconciling items:               
Tax effect of income that is not taxable*   (16,470)   (1,478)   (25)
Tax effect of non-deductible expenditure   120,414    371,984    90,539 
Tax effect of temporary differences not recognized   27,619    98,842    - 
Change in valuation allowance   852,546    409,297    88,998 
Effect of two-tier tax rate   (21,154)   -    (21,154)
Statutory tax deduction#   (385)   -    (385)
Income tax expense (benefit)   13,835    (80,154)   648,936 

 

* Income that is not taxable mainly consisted of the bank interest income which is non-taxable under Hong Kong income tax law.
   
# It represents a reduction granted by the Hong Kong SAR Government of 100% of the tax payable subject to a maximum reduction of HKD3,000 (2025: HKD1,500) (2024: HKD3,000) for each business.