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Property and Equipment, Net | 6 Months Ended
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Sep. 30, 2024
Property, Plant and Equipment [Abstract] |
Property and Equipment, Net | 7. Property and equipment, n et The components of property and equipment, net were as follows:
|  |  |  |  | As of September 30, 2024 |  |  | As of March 31, 2024 |
Computers |  |  |  |  |  | 725,138 |  |  |  | 660,504 |
Office equipment |  |  |  |  |  | 332,152 |  |  |  | 422,046 |
Furniture & fixtures |  |  |  |  |  | 289,484 |  |  |  | 162,851 |
Electrical equipment |  |  |  |  |  | 30,941 |  |  |  | 30,972 |
Leasehold improvements |  |  |  |  |  | 31,632 |  |  |  | 31,736 |
Total |  |  |  |  |  | 1,409,347 |  |  |  | 1,308,109 |
Less: accumulated depreciation |  |  |  |  |  | (1,060,601 | ) |  |  | (853,520 | )
Property and equipment, net |  |  |  |  |  | 348,746 |  |  |  | 454,589 |
The Company capitalized $101,238 (net of disposal, transfer and CTA impact of nil, $103,210 and $ (1,387) respectively) and capitalized $687,130 (net of disposal and CTA impact of $106 and $(1,180), respectively) for the period ended September 30, 2024 and for the fiscal year ended March 31, 2024 respectively, of which $396,123 is related to acquisition of FA Premium Insurance Broking Pvt. Ltd., Global Insurance Management Limited and National Automobile Club for the fiscal year ended March 31, 2024. During the fiscal year ended March 31, 2024, the Company ceased to hold board control over Peoplebay Consultancy Services Private Limited and FA Events & Media Private Limited with effect from October 1, 2023 and FA Premium Insurance Private Limited with effect from January 1, 2024, as a result property and equipment worth $73,641 has been derecognized. The Company capitalized $15,762 and $28,008 towards computers for the six month period ended September 30, 2024 and the fiscal year ended March 31, 2024, respectively. Depreciation expense relating to property and equipment amounted to $54,453 and $152,113 for the six month period ended September 30, 2024 and the fiscal year ended March 31, 2024 respectively out of which $17,377 and $77,422 relate to computers for the six month period ended September 30, 2024 and the fiscal year ended March 31, 2024 respectively.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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