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Income Taxes (Tables) | 6 Months Ended
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Sep. 30, 2024
Income Tax Disclosure [Abstract] |
Schedule of Income before Income Tax, Domestic and Foreign | The Company's net loss before provision for income taxes for the period ended September 30, 2024 and September 30, 2023 were as follows:
Particulars |  |  |  | For the three months ended September 30, 2024 |  |  | For the three months ended September 30, 2023 |  |  | For the six months ended September 30, 2024 |  |  | For the six months ended September 30, 2023 |
Domestic |  |  |  |  | (19,101,833 | ) |  |  | (5,606,269 | ) |  |  | (45,372,274 | ) |  |  | (9,350,380 | )
Foreign |  |  |  |  | (2,910,836 | ) |  |  | (25,504,049 | ) |  |  | (24,986,089 | ) |  |  | (25,804,523 | )
Total |  |  |  |  | (22,012,669 | ) |  |  | (31,110,318 | ) |  |  | (70,358,363 | ) |  |  | (35,154,903 | )
Schedule of Components of Provision for Income Taxes | The components of the provision for income taxes for the period ended September 30, 2024 and September 30, 2023 were as follows:
Particulars |  |  |  | For the three months ended September 30, 2024 |  |  | For the three months ended September 30, 2023 |  |  |  | For the six months ended September 30, 2024 |  |  | For the six months ended September 30, 2023 |
Current: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Domestic |  |  |  |  | 4,214 |  |  |  | — |  |  |  |  | 17,147 |  |  |  | — |
Foreign |  |  |  |  | — |  |  |  | 50,135 |  |  |  |  | - |  |  |  | 72,077 |
|  |  |  |  | 4,214 |  |  |  | 50,135 |  |  |  |  | 17,147 |  |  |  | 72,077 |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Domestic |  |  |  |  | — |  |  |  | — |  |  |  |  | — |  |  |  | — |
Foreign |  |  |  |  | (185,478 | ) |  |  | (39,196 | ) |  |  |  | (91,761 | ) |  |  | (38,727 | )
|  |  |  |  | (185,478 | ) |  |  | (39,196 | ) |  |  |  | (91,761 | ) |  |  | (38,727 | )
Total provision for income taxes |  |  |  |  | (181,264 | ) |  |  | 10,939 |  |  | - |  |  | (74,614 | ) |  |  | 33,350 |
Schedule of Reconciliation of Statutory Federal Income Tax Rate | The following is a reconciliation of the federal statutory income tax rate to the Company’s effective tax rate for the period ended September 30, 2024 and September 30, 2023:
Particulars |  |  |  | For the three months ended September 30, 2024 |  |  | For the three months ended September 30, 2023 |  |  | For the six months ended September 30, 2024 |  |  | For the six months ended September 30, 2023 |
Federal statutory income tax rate |  |  |  |  | 21.00 | % |  |  | 21.00 | % |  |  | 21.00 | % |  |  | 21.00 | %
Non deductible expenses |  |  |  |  | (0.22 | %) |  |  | 0.14 | % |  |  | (0.25 | %) |  |  | (6.86 | %)
Valuation allowance |  |  |  |  | (20.54 | %) |  |  | (21.00 | %) |  |  | (20.93 | %) |  |  | (14.13 | %)
Foreign rate differential |  |  |  |  | (0.29 | %) |  |  | (0.24 | %) |  |  | (0.19 | %) |  |  | (0.18 | %)
Share warrants |  |  |  |  | 0.00 | % |  |  | 0.00 | % |  |  | 0.00 | % |  |  | 0.00 | %
Other |  |  |  |  | 0.00 | % |  |  | 0.06 | % |  |  | (0.04 | %) |  |  | 0.08 | %
Total provision for income taxes |  |  |  |  | (0.05 | %) |  |  | (0.04 | %) |  |  | (0.41 | %) |  |  | (0.09 | %)
Schedule of Net Deferred Tax Assets | The components of the Company’s net deferred tax assets as of the period ended September 30, 2024 and year ended March 31, 2024 were as follows:
Particulars |  |  |  |  |  |  |  | As of September 30, 2024 |  |  | As of March 31, 2024 |
Deferred tax assets: |  |  |  |  |  |  |  |  |  |  |  |
Net operating loss carry forwards |  |  |  |  |  |  |  |  | 40,187,359 |  |  |  | 25,515,511 |
Unabsorbed depreciation carry forwards |  |  |  |  |  |  |  |  | 107,638 |  |  |  | 76,126 |
Retirement benefits |  |  |  |  |  |  |  |  | 77,213 |  |  |  | 72,349 |
Depreciation and amortization |  |  |  |  |  |  |  |  | 80,333 |  |  |  | 109,299 |
Others |  |  |  |  |  |  |  |  | 16,694 |  |  |  | 244,136 |
Total deferred tax assets |  |  |  |  |  |  |  |  | 40,469,236 |  |  |  | 26,017,421 |
Less: valuation allowance |  |  |  |  |  |  |  |  | (40,444,762 | ) |  |  | (25,995,368 | )
Deferred tax assets, net of valuation allowance |  |  |  |  |  |  |  |  | 24,475 |  |  |  | 22,053 |
Deferred tax liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Intangibles on account of business combination |  |  |  |  |  |  |  |  | (40,975 | ) |  |  | (263,665 | )
Net deferred tax assets/ (liabilities) |  |  |  |  |  |  |  |  | (16,500 | ) |  |  | (241,612 | )
Schedule of Movement in Net Deferred Tax Assets | Movement in net deferred tax assets:
|  |  |  | As of March 31, 2024 |  |  | Recognized/ reversed through statements of operations |  |  | Impact of currency translation and acquisitions |  |  | As of September 30, 2024 |
Deferred tax assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net operating loss carry forwards |  |  |  |  | 25,515,511 |  |  |  | 14,671,848 |  |  |  | — |  |  |  | 40,187,359 |
Unabsorbed depreciation carry forwards |  |  |  |  | 76,126 |  |  |  | 31,512 |  |  |  | — |  |  |  | 107,638 |
Retirement benefits |  |  |  |  | 72,349 |  |  |  | 4,864 |  |  |  | — |  |  |  | 77,213 |
Depreciation and amortization |  |  |  |  | 109,299 |  |  |  | -28,966 |  |  |  | — |  |  |  | 80,333 |
Fair value changes on convertible notes |  |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Others |  |  |  |  | 244,136 |  |  |  | (227,442 | ) |  |  | — |  |  |  | 16,694 |
Less: valuation allowance |  |  |  |  | (25,995,368 | ) |  |  | (14,449,394 | ) |  |  | — |  |  |  | (40,444,762 | )
Deferred tax liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Intangibles on account of business combination |  |  |  |  | (263,665 | ) |  |  | 222,690 |  |  |  | — |  |  |  | (40,975 | )
Acquisitions |  |  |  |  | — |  |  |  | 635,965 |  |  |  | (635,965 | ) |  |  | — |
Deconsolidation |  |  |  |  | — |  |  |  | - |  |  |  | - |  |  |  | — |
Currency translation |  |  |  |  | — |  |  |  | (284,598 | ) |  |  | 284,598 |  |  |  | — |
Net deferred tax assets/ (liabilities) |  |  |  |  | (241,612 | ) |  |  | 576,479 |  |  |  | (351,367 | ) |  |  | (16,500 | )
Particulars |  |  |  | As of March 31, 2023 |  |  | Recognized/ reversed through statements of operations |  |  | Impact of currency translation and acquisitions |  |  | As of March 31, 2024 |
Deferred tax assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net operating loss carry forwards |  |  |  |  | 8,480,316 |  |  |  | 17,035,195 |  |  |  | — |  |  |  | 25,515,511 |
Unabsorbed depreciation carry forwards |  |  |  |  | 54,438 |  |  |  | 21,688 |  |  |  | — |  |  |  | 76,126 |
Retirement benefits |  |  |  |  | 56,603 |  |  |  | 15,746 |  |  |  | — |  |  |  | 72,349 |
Depreciation and amortization |  |  |  |  | 50,918 |  |  |  | 58,381 |  |  |  | — |  |  |  | 109,299 |
Fair value changes on convertible notes |  |  |  |  | - |  |  |  | - |  |  |  | — |  |  |  | — |
Others |  |  |  |  | 5,965 |  |  |  | 238,171 |  |  |  | — |  |  |  | 244,136 |
Less: valuation allowance |  |  |  |  | (8,565,895 | ) |  |  | (17,429,473 | ) |  |  | — |  |  |  | (25,995,368 | )
Deferred tax liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Intangibles on account of business combination |  |  | - |  |  |  | (263,665 | ) |  |  | — |  |  |  | (263,665 | )
Gain on convertible notes |  |  |  |  | - |  |  |  | 608,233 |  |  |  | (608,233 | ) |  |  | - |
Currency translation |  |  |  |  | — |  |  |  | (193,121 | ) |  |  | 193,121 |  |  |  | — |
Acquisitions |  |  |  |  | - |  |  |  | (48,330 | ) |  |  | 48,330 |  |  |  | - |
|  |  |  |  | 82,345 |  |  |  | 42,825 |  |  |  | (366,782 | ) |  |  | (241,612 | )

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
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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://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
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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://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
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