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:
Schedule of Components of Income Tax Expense (Benefit)
| | |
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 |
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 |
Schedule
of Income Tax Expense Reconciliation
| | |
2026 | | |
2025 | | |
2024 | |
| | |
For
the years ended March 31, | |
| | |
2026 | | |
2025 | | |
2024 | |
| | |
USD | | |
USD | | |
USD | |
| | |
| | |
| | |
| |
| 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. |
|