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Intangible Assets, Net | 9 Months Ended | 12 Months Ended
--- | --- | ---
Dec. 31, 2023 | Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |  |
Intangible Assets, Net | 9. Intangible assets, net
|  | As of December 31, 2023 |  |  | As of March 31, 2023 |
Software for internal use |  |  | 9,407,431 |  |  |  | 7,292,101 |
Customer contracts - (refer note 19) |  |  | 2,728,118 |  |  |  | 682,399 |
Distribution network - (refer note 19) |  |  | 802,730 |  |  |  | — |
Intangible assets under development |  |  | 344,577 |  |  |  | 196,174 |
Intellectual property |  |  | 110,799 |  |  |  | 112,176 |
Trademark |  |  | 54 |  |  |  | 55 |
Total |  |  | 13,393,709 |  |  |  | 8,282,905 |
Less: accumulated depreciation and amortization |  |  | (8,654,379 | ) |  |  | (5,569,048 | )
Less: impairment loss |  |  | (241,694 | ) |  |  | (244,699 | )
Intangible assets, net |  |  | 4,497,636 |  |  |  | 2,469,158 |
In the coming years, the Company has decided to shift its focus more on insurance distribution services rather than engaging into insurance support services. Due to the change in the business strategy, it was more likely than not that the carrying value of the distribution entities exceeded its fair value. As a result, the Company performed an impairment assessment by comparing the fair value of the affected entities (FA Events and Media Private Limited, Peoplebay Consultancy Services Private Limited, Kintsugi Innovation Labs Private Limited) to its carrying value. Fair value was determined by using DCF (discounted cashflow method) which is a level 3 measurement. The carrying value of the affected entities exceeded its fair value and as a result, an impairment charge of $254,614 (including CTA impact of $9,915) was recorded in consolidated statements of operations under the head “Impairment of goodwill and intangibles with definite life” for the year ended March 31, 2023. The Company performed qualitative assessement for other intangible assets and indicated that it was more likely than not that the fair value of the acquired entities exceeded its carrying value, therefore, did not result in an impairment. The estimated amortization schedule for the Company’s intangible assets for future periods is set out below:
For Period Ended December 31: |  | Amount |
2024 |  |  | 1,546,500 |
2025 |  |  | 1,268,848 |
2026 |  |  | 952,276 |
2027 |  |  | 385,435 |
| 7. Intangible assets, net
|  | As of March 31, 2023 |  |  | As of March 31, 2022 |
Software for internal use |  |  | 7,292,101 |  |  |  | 6,456,377 |
Customer contracts - (refer note 16) |  |  | 682,399 |  |  |  | 743,309 |
Intangible assets under development |  |  | 196,174 |  |  |  | 737,637 |
Intellectual property |  |  | 112,176 |  |  |  | 65,957 |
Trademark |  |  | 55 |  |  |  | 60 |
Total |  |  | 8,282,905 |  |  |  | 8,003,340 |
Less: accumulated depreciation and amortization |  |  | (5,569,048 | ) |  |  | (4,251,050 | )
Less: Impairment loss |  |  | (244,699 | ) |  |  | — |
Intangible assets, net |  |  | 2,469,158 |  |  |  | 3,752,290 |
The Company decided to shift its focus more on insurance distribution services rather than engaging into insurance support services in the coming years. Due to the change in the business strategy, it was more likely than not that the carrying value of the distribution entities exceeded its fair value. As a result, the Company performed an impairment assessment by comparing the fair value of the affected entities (FA Events and Media Private Limited, Peoplebay Consultancy Services Private Limited, Kintsugi Innovation Labs Private Limited) to its carrying value. Fair value was determined by using DCF (discounted cashflow method) which is a level 3 measurement. The carrying value of the affected entities exceeded its fair value and as a result, an impairment charge of $ 254,614 (including CTA impact of $ 9,915) was recorded in consolidated statements of operations under the head “Impairment of goodwill and intangibles with definite life”. The Company performed qualitative assessment for other intangible assets and indicated that it was more likely than not that the fair value of the acquired entities exceeded its carrying value, therefore, did not result in an impairment. The estimated amortization schedule for the Company’s intangible assets for future periods is set out below:
Particulars |  | Amount |
Year ending March 31, 2024 |  |  | 1,193,105 |
Year ending March 31, 2025 |  |  | 960,104 |
Year ending March 31, 2026 |  |  | 61,426 |
Year ending March 31, 2027 |  |  | 40,048 |
Year ending March 31, 2028 |  |  | 18,300 |

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