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Income Taxes (Tables) | 9 Months Ended | 12 Months Ended
--- | --- | ---
Dec. 31, 2023 | Mar. 31, 2023
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 three months and nine months periods ended December 31, 2023 and December 31, 2022 was as follows:
Particulars |  | For the three months ended December 31, 2023 |  |  | For the three months ended December 31, 2022 |  |  | For the nine months ended December 31, 2023 |  |  | For the nine months ended December 31, 2022 |
Domestic |  |  | (28,679,087 | ) |  |  | 2,796,117 |  |  |  | (61,637,236 | ) |  |  | (5,806,071 | )
Foreign |  |  | (2,058,059 | ) |  |  | (2,450,329 | ) |  |  | (4,254,813 | ) |  |  | (3,932,603 | )
Total |  |  | (30,737,146 | ) |  |  | 345,788 |  |  |  | (65,892,049 | ) |  |  | (9,738,674 | )
| The Company’s net loss before provision for income taxes for the years ended March 31, 2023 and 2022 were as follows:
Particulars |  | As of March 31, 2023 |  |  | As of March 31, 2022 |
Domestic |  |  | (8,917,510 | ) |  |  | (8,311,979 | )
Foreign |  |  | (5,325,906 | ) |  |  | (1,469,642 | )
Total |  |  | (14,243,416 | ) |  |  | (9,781,621 | )
Schedule of Components of Provision for Income Taxes | The components of the provision for income taxes for the three months and nine months periods ended December 31, 2023 and December 31, 2022 were as follows:
Particulars |  | For the three months ended December 31, 2023 |  |  | For the three months ended December 31, 2022 |  |  | For the nine months ended December 31, 2023 |  |  | For the nine months ended December 31, 2022 |
Current: |  |  |  |  |  |  |  |  |  |  |  |
Domestic |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Foreign |  |  | (27,700 | ) |  |  | 17,214 |  |  |  | 44,377 |  |  |  | 22,115 |
|  |  | (27,700 | ) |  |  | 17,214 |  |  |  | 44,377 |  |  |  | 22,115 |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |
Domestic |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Foreign |  |  | (99,032 | ) |  |  | (65,933 | ) |  |  | (137,759 | ) |  |  | (68,826 | )
|  |  | (99,032 | ) |  |  | (65,933 | ) |  |  | (137,759 | ) |  |  | (68,826 | )
Total provision for income taxes |  |  | (126,732 | ) |  |  | (48,719 | ) |  |  | (93,382 | ) |  |  | (46,711 | )
| The components of the provision for income taxes for the years ended March 31, 2023 and 2022, were as follows:
Particulars |  | As of March 31, 2023 |  |  | As of March 31, 2022 |
Current: |  |  |  |  |  |
Domestic |  |  | — |  |  |  | — |
Foreign |  |  | 86,420 |  |  |  | 114,422 |
|  |  | 86,420 |  |  |  | 114,422 |
Deferred: |  |  |  |  |  |
Domestic |  |  | — |  |  |  | (32,778 | )
Foreign |  |  | (128,685 | ) |  |  | (56,687 | )
|  |  | (128,685 | ) |  |  | (89,465 | )
Total provision for income taxes |  |  | (42,265 | ) |  |  | 24,957 |
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 three months and nine months periods ended December 31, 2023 and December 31, 2022:
Particulars |  | For the three months ended December 31, 2023 |  |  | For the three months ended December 31, 2022 |  |  | For the nine months ended December 31, 2023 |  |  | For the nine months ended December 31, 2022 |
Federal statutory income tax rate |  |  | 21.00 | % |  |  | 21.00 | % |  |  | 21.00 | % |  |  | 21.00 | %
Non deductible expenses |  |  | 0.03 | % |  |  | 26.80 | % |  |  | 4.98 | % |  |  | (2.93 | )%
Valuation allowance |  |  | (20.51 | )% |  |  | 0.82 | % |  |  | (25.73 | )% |  |  | (19.41 | )%
Foreign rate differential |  |  | (0.16 | )% |  |  | (27.81 | )% |  |  | (0.17 | )% |  |  | 1.64 | %
Share warrants |  |  | 0.00 | % |  |  | 2.01 | % |  |  | 0.00 | % |  |  | (0.07 | )%
Other |  |  | 0.05 | % |  |  | (36.91 | )% |  |  | 0.06 | % |  |  | 0.25 | %
Total provision for income taxes |  |  | 0.41 | % |  |  | (14.09 | )% |  |  | 0.14 | % |  |  | 0.48 | %
| The following is a reconciliation of the federal statutory income tax rate to the Company’s effective tax rate for the years ended March 31, 2023 and 2022:
Particulars |  | As of March 31, 2023 |  |  | As of March 31, 2022 |
Federal statutory income tax rate |  |  | 21.00 | % |  |  | 21.00 | %
Non-deductible expenses |  |  | (4.08 | )% |  |  | 1.57 | %
Valuation allowance |  |  | (17.65 | )% |  |  | (21.04 | )%
Foreign rate differential |  |  | 1.24 | % |  |  | 1.20 | %
Share warrants |  |  | (0.05 | )% |  |  | (3.66 | )%
Other |  |  | (0.17 | )% |  |  | 0.68 | %
Total provision for income taxes |  |  | 0.30 | % |  |  | (0.26 | )%
Schedule of Net Deferred Tax Assets | The components of the Company’s net deferred tax assets as of the nine months period ended December 31, 2023 and year ended March 31, 2023 were as follows:
Particulars |  | As of December 31, 2023 |  |  | As of March 31, 2023 |
Deferred tax assets: |  |  |  |  |  |
Net operating loss carry forwards |  |  | 25,134,198 |  |  |  | 8,480,316 |
Unabsorbed depreciation carry forwards |  |  | 107,160 |  |  |  | 54,438 |
Retirement benefits |  |  | 74,587 |  |  |  | 56,603 |
Depreciation and amortization |  |  | 124,269 |  |  |  | 50,918 |
Others |  |  | 241,303 |  |  |  | 5,965 |
Total deferred tax assets |  |  | 25,681,517 |  |  |  | 8,648,240 |
Less: valuation allowance |  |  | (25,521,208 | ) |  |  | (8,565,895 | )
Deferred tax assets, net of valuation allowance |  |  | 160,309 |  |  |  | 82,345 |
Deferred tax liabilities: |  |  |  |  |  |
Intangibles on account of business combination |  |  | (523,462 | ) |  |  | — |
Net deferred tax assets/ (liabilities) |  |  | (363,153 | ) |  |  | 82,345 |
| The components of the Company’s net deferred tax assets as of the years ended March 31, 2023 and 2022 were as follows:
Particulars |  | As of March 31, 2023 |  |  | As of March 31, 2022 |
Deferred tax assets: |  |  |  |  |  |
Net operating loss carryforwards |  |  | 8,480,316 |  |  |  | 5,742,033 |
Unabsorbed depreciation carryforwards |  |  | 54,438 |  |  |  | 9,174 |
Retirement benefits |  |  | 56,603 |  |  |  | 53,656 |
Depreciation and amortization |  |  | 50,918 |  |  |  | 25,232 |
Fair value changes on convertible notes |  |  | — |  |  |  | 3,967 |
Others |  |  | 5,965 |  |  |  | 288,348 |
Total deferred tax assets |  |  | 8,648,240 |  |  |  | 6,122,410 |
Less: valuation allowance |  |  | (8,565,895 | ) |  |  | (6,052,307 | )
Deferred tax assets, net of valuation allowance |  |  | 82,345 |  |  |  | 70,103 |
Deferred tax liabilities: |  |  |  |  |  |
Intangibles on account of business combination |  |  | — |  |  |  | (117,729 | )
Net deferred tax assets/ (liabilities) |  |  | 82,345 |  |  |  | (47,626 | )
Schedule of Movement in Net Deferred Tax Assets | Movement in net deferred tax assets:
|  | As of March 31, 2023 |  |  | Recognized/ reversed through statements of operations |  |  | Impact of currency translation and acquisitions |  |  | As of December 31, 2023 |
Deferred tax assets: |  |  |  |  |  |  |  |  |  |  |  |
Net operating loss carry forwards |  |  | 8,480,316 |  |  |  | 16,653,882 |  |  |  | — |  |  |  | 25,134,198 |
Unabsorbed depreciation carry forwards |  |  | 54,438 |  |  |  | 52,722 |  |  |  | — |  |  |  | 107,160 |
Retirement benefits |  |  | 56,603 |  |  |  | 17,984 |  |  |  | — |  |  |  | 74,587 |
Depreciation and amortization |  |  | 50,918 |  |  |  | 73,351 |  |  |  | — |  |  |  | 124,269 |
Fair value changes on convertible notes |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Others |  |  | 5,965 |  |  |  | 235,338 |  |  |  | — |  |  |  | 241,303 |
Less: valuation allowance |  |  | (8,565,895 | ) |  |  | (16,955,313 | ) |  |  | — |  |  |  | (25,521,208 | )
Deferred tax liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Intangibles on account of business combination |  |  | — |  |  |  | (523,462 | ) |  |  | — |  |  |  | (523,462 | )
Acquisitions |  |  | — |  |  |  | 606,512 |  |  |  | (606,512 | ) |  |  | — |
Currency translation |  |  | — |  |  |  | (23,255 | ) |  |  | 23,255 |  |  |  | — |
Net deferred tax assets/ (liabilities) |  |  | 82,345 |  |  |  | 137,759 |  |  |  | (583,257 | ) |  |  | (363,153 | )
Particulars |  | As of March 31, 2022 |  |  | Recognized/ reversed through statements of operations |  |  | Impact of currency translation and acquisitions |  |  | As of March 31, 2023 |
Deferred tax assets: |  |  |  |  |  |  |  |  |  |  |  |
Net operating loss carry forwards |  |  | 5,742,033 |  |  |  | 2,738,283 |  |  |  | — |  |  |  | 8,480,316 |
Unabsorbed depreciation carry forwards |  |  | 9,174 |  |  |  | 45,264 |  |  |  | — |  |  |  | 54,438 |
Retirement benefits |  |  | 53,656 |  |  |  | 2,947 |  |  |  | — |  |  |  | 56,603 |
Depreciation and amortization |  |  | 25,232 |  |  |  | 25,686 |  |  |  | — |  |  |  | 50,918 |
Fair value changes on convertible notes |  |  | 3,967 |  |  |  | (3,967 | ) |  |  | — |  |  |  | — |
Others |  |  | 288,348 |  |  |  | (282,383 | ) |  |  | — |  |  |  | 5,965 |
Less: valuation allowance |  |  | (6,052,307 | ) |  |  | (2,513,588 | ) |  |  | — |  |  |  | (8,565,895 | )
Deferred tax liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Intangibles on account of business combination |  |  | (117,729 | ) |  |  | 117,729 |  |  |  | — |  |  |  | — |
Currency translation |  |  | — |  |  |  | (1,286 | ) |  |  | 1,286 |  |  |  | — |
|  |  | (47,626 | ) |  |  | 128,685 |  |  |  | 1,286 |  |  |  | 82,345 |
| Movement in net deferred tax assets:
|  | As of March 31, 2022 |  |  | Recognised/ reversed through statements of operations |  |  | Impact of currency translation and acquisitions |  |  | As of March 31, 2023 |
Deferred tax assets: |  |  |  |  |  |  |  |  |  |  |  |
Net operating loss carry forwards |  |  | 5,742,033 |  |  |  | 2,738,283 |  |  |  | — |  |  |  | 8,480,316 |
Unabsorbed depreciation carry forwards |  |  | 9,174 |  |  |  | 45,264 |  |  |  | — |  |  |  | 54,438 |
Retirement benefits |  |  | 53,656 |  |  |  | 2,947 |  |  |  | — |  |  |  | 56,603 |
Depreciation and amortization |  |  | 25,232 |  |  |  | 25,686 |  |  |  | — |  |  |  | 50,918 |
Fair value changes on convertible notes |  |  | 3,967 |  |  |  | (3,967 | ) |  |  | — |  |  |  | — |
Others |  |  | 288,348 |  |  |  | (282,383 | ) |  |  | — |  |  |  | 5,965 |
Less: valuation allowance |  |  | (6,052,307 | ) |  |  | (2,513,588 | ) |  |  | — |  |  |  | (8,565,895 | )
Deferred tax liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Intangibles on account of business combination |  |  | (117,729 | ) |  |  | 117,729 |  |  |  | — |  |  |  | — |
Currency translation |  |  | — |  |  |  | (1,286 | ) |  |  | 1,286 |  |  |  | — |
Net deferred tax assets/ (liabilities) |  |  | (47,626 | ) |  |  | 128,685 |  |  |  | 1,286 |  |  |  | 82,345 |
Particulars |  | As of March 31, 2021 |  |  | Recognised/ reversed through statements of operations |  |  | Impact of currency translation and acquisitions |  |  | As of March 31, 2022 |
Deferred tax assets: |  |  |  |  |  |  |  |  |  |  |  |
Net operating loss carry forwards |  |  | 3,921,905 |  |  |  | 1,820,128 |  |  |  | — |  |  |  | 5,742,033 |
Unabsorbed depreciation carry forwards |  |  | 8,399 |  |  |  | 775 |  |  |  | — |  |  |  | 9,174 |
Retirement benefits |  |  | 27,311 |  |  |  | 26,344 |  |  |  | — |  |  |  | 53,656 |
Depreciation and amortization |  |  | 15,919 |  |  |  | 9,314 |  |  |  | — |  |  |  | 25,232 |
Fair value changes on convertible notes |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Fair value changes on convertible notes |  |  | — |  |  |  | 3,967 |  |  |  | — |  |  |  | 3,967 |
Others |  |  | 55,267 |  |  |  | 233,081 |  |  |  | — |  |  |  | 288,348 |
Less: valuation allowance |  |  | (3,994,222 | ) |  |  | (2,058,085 | ) |  |  | — |  |  |  | (6,052,307 | )
Deferred tax liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Intangibles on account of business combination |  |  | (11,039 | ) |  |  | (106,690 | ) |  |  | — |  |  |  | (117,729 | )
Gain on convertible notes |  |  | (32,778 | ) |  |  | 32,778 |  |  |  | — |  |  |  | — |
Currency translation |  |  | — |  |  |  | (1,131 | ) |  |  | 1,131 |  |  |  | — |
Acquisitions |  |  | — |  |  |  | 128,985 |  |  |  | (128,985 | ) |  |  | — |
|  |  | (9,238 | ) |  |  | 89,466 |  |  |  | (127,854 | ) |  |  | (47,626 | )

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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://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 9 -Section 50 -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://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -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://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 12 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-12 + Details
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