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DEFERRED TAX (LIABILITIES)/ASSETS (Tables)

12 Months Ended

Mar. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of deferred tax assets and liabilities

As of March 31, 2022 and 2021, deferred tax assets and liabilities of the Company were comprised of the following:

			March 31, 2022						March 31, 2021
Deferred tax assets:
Revaluation on trading securities			$	5,760					$	—
Tax losses carryforward			5,679						316
Accrued liabilities			967						236
Depreciation			—						16
Stock compensation expenses			—						—
Valuation allowance			—						(316)
Deferred tax assets			$	12,406					$	252
Deferred tax liabilities:
Revaluation on trading securities			$	—					$	2,546
Fixed and Intangible Assets			—						1,568
Subordinated debt			—						523
Other liabilities			388						—
Deferred tax liabilities			$	388					$	4,637
Net deferred tax (liabilities)/assets			$	12,018					$	(4,385)

Schedule of federal income taxes

The Company is subject to the U.S. federal income taxes at a rate of 21%. The reconciliation of the provision for income taxes at the 21% tax rate compared to the Company's income tax expense as reported is as follows:

			Year ended March 31, 2022						Year ended March 31, 2021						Year ended March 31, 2020
Profit before tax at 21%			$	49,747					$	36,335					$	5,908
Global intangible low taxed income			31,194						18,451						4,803
Gain recognized through additional paid in capital			4,988						—						—
Stock based compensation			3,090						348						551
Losses carried forward adjustment			—						—						(154)
Other differences			—						—						20
Provision for impairment losses			(19)						187						(295)
Valuation allowance			(316)						(361)						416
Non-taxable interest income			(659)						—						—
Permanent differences			(2,883)						24						793
Foreign tax credit			(16,200)						(10,155)						(3,503)
Foreign tax rate differential			(18,213)						(10,487)						(2,938)
Nontaxable gains			(25,204)						(4,244)						401
Income tax provision			$	25,525					$	30,098					$	6,002

Schedule of income tax expenses

As of March 31, 2022 and 2021, income tax expense was comprised of the following:

			Year ended March 31, 2022						Year ended March 31, 2021						Year ended March 31, 2020
Current income tax charge			$	41,927					$	27,386					$	5,307
Deferred income tax charge			(16,402)						2,712						695
Income tax provision			$	25,525					$	30,098					$	6,002

X

- Definition

Tabular disclosure of the federal tax basis of investment holdings. This item captures the aggregate cost of securities, aggregate gross unrealized appreciation for all securities in which there is an excess of value over tax cost, aggregate gross unrealized depreciation for all securities in which there is an excess of tax cost over value, net unrealized appreciation (depreciation), and an explanation of the differences between tax and book.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(h)(2))
-URI https://asc.fasb.org/extlink&oid=126898976&loc=d3e600178-122990

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319

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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319

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