v3.5.0.1

INCOME TAXES (Details 5) - CNY (¥) | 12 Months Ended
--- | ---
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014
Movements of the valuation allowance |  |  |
Balance at the beginning of the year | ¥ 3,882,555 | ¥ 2,575,187 | ¥ 921,751
Additions from Xing Wei Group acquisition |  |  | 915,864
Additions of valuation allowance excluding acquisition | 16,146,033 | 1,307,368 | 737,572
Balance at the end of the year | 20,028,588 | 3,882,555 | 2,575,187
Additional disclosures |  |  |
Unrecognized tax benefits | 0 | 0 | 0
Interest and penalties recorded | ¥ 0 | ¥ 0 | ¥ 0
Period of statute of limitations, if the underpayment of taxes is due to computational errors made by the taxpayer or the withholding agent | 3 years |  |
Period of statute of limitations, if the underpayment is more than RMB 100,000 | 5 years |  |
Minimum amount of underpayment of taxes for statute of limitations to be extended to five years | ¥ 100,000 |  |
Period of statute of limitations for transfer pricing issues | 10 years |  |
PRC |  |  |
Movements of the valuation allowance |  |  |
Tax loss carry forwards for PRC income tax purpose | ¥ 88,264,251 |  |
PRC | December 31, 2016 |  |  |
Movements of the valuation allowance |  |  |
Tax loss carry forwards for PRC income tax purpose | 0 |  |
PRC | December 31, 2017 |  |  |
Movements of the valuation allowance |  |  |
Tax loss carry forwards for PRC income tax purpose | 0 |  |
PRC | December 31, 2018 |  |  |
Movements of the valuation allowance |  |  |
Tax loss carry forwards for PRC income tax purpose | 4,996,057 |  |
PRC | December 31, 2019 |  |  |
Movements of the valuation allowance |  |  |
Tax loss carry forwards for PRC income tax purpose | 5,438,101 |  |
PRC | December 31, 2020 |  |  |
Movements of the valuation allowance |  |  |
Tax loss carry forwards for PRC income tax purpose | 41,987,572 |  |
PRC | December 31, 2021 |  |  |
Movements of the valuation allowance |  |  |
Tax loss carry forwards for PRC income tax purpose | ¥ 35,842,521 |  |

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