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v3.24.3

Other Liabilities (Tables) | 12 Months Ended
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Mar. 31, 2024
Other Liabilities Disclosure [Abstract] |
Schedule of other liabilities |
Schedule of other liabilities |  |  |  |  |  |  |  |
|  | As of March 31, |
|  | 2024 |  |  | 2023 |
Accrued compensation and related benefits |  | $ | 3,777 |  |  | $ | 2,764 |
Finance lease obligations, non-current |  |  | 162 |  |  |  | 235 |
Other |  |  | 9 |  |  |  | 9 |
Other liabilities |  | $ | 3,948 |  |  | $ | 3,008 |
Schedule of income taxes majorly pertains |
Schedule of income taxes majorly pertains |  |  |  |  |  |  |  |
|  | Year Ended March 31, |
|  | 2024 |  |  | 2023 |
United States |  | $ | (309 | ) |  | $ | 267 |
India |  |  | 3,095 |  |  |  | 2,508 |
Cayman Islands |  |  | 13,330 |  |  |  | - |
UAE |  |  | (25 | ) |  |  | - |
Singapore |  |  | 2,957 |  |  |  | (64 | )
Mexico |  |  | 79 |  |  |  | 55 |
Total |  | $ | 19,127 |  |  | $ | 2,766 |
Schedule of provision for income taxes |
Schedule of provision for income taxes |  |  |  |  |  |  |  |
|  | Year Ended March 31, |
|  | 2024 |  |  | 2023 |
Current tax provision |  | $ | 2,589 |  |  | $ | 1,221 |
Deferred tax benefit |  |  | (718 | ) |  |  | (161 | )
Provision for Income Taxes |  | $ | 1,871 |  |  | $ | 1,060 |
Schedule of income tax expense |
Schedule of income tax expense |  |  |  |  |  |  |  |
|  | Year Ended March 31, |
|  | 2024 |  |  | 2023 |
Income from operations |  | $ | 1,871 |  |  | $ | 1,060 |
Other comprehensive income |  |  |  |  |  |  |  |
Defined benefit plan |  |  | 4 |  |  |  | (39 | )
Total |  | $ | 1,875 |  |  | $ | 1,021 |
Schedule of income tax rate |
Schedule of income tax rate |  |  |  |  |  |  |  |
|  | Year Ended March 31, |
|  | 2024 |  |  | 2023 |
Income before income tax expense |  | $ | 19,127 |  |  | $ | 2,766 |
Income tax expense at tax rates applicable to the Company (i.e., 17%) |  |  | - |  |  |  | 470 |
Increase (decrease) in income taxes resulting from: |  |  |  |  |  |  |  |
Non-deductible expenses |  |  | 383 |  |  |  | 241 |
Non-taxable income |  |  | - |  |  |  | - |
Reversal of deferred tax asset / liability |  |  | 7 |  |  |  | 36 |
Valuation allowance |  |  | - |  |  |  | 36 |
Tax of earlier year |  |  | 221 |  |  |  | 9 |
True up /down |  |  | 78 |  |  |  | 89 |
Loss / (income) taxed at different tax rate |  |  | 2 |  |  |  | (3 | )
Adjustments for change in rates due to different tax jurisdiction |  |  | 1,254 |  |  |  | 223 |
Set off against brought forward losses |  |  | (60 | ) |  |  | (60 | )
GILTI inclusion |  |  | 42 |  |  |  | 27 |
Others |  |  | (56 | ) |  |  | (8 | )
Provision for income tax |  | $ | 1,871 |  |  | $ | 1,060 |
Effective tax rate |  |  | 9.78 | % |  |  | 38.33 | %
Schedule of deferred taxes |
Schedule of deferred taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | As of March 31, |
|  | 2024 |  |  | 2023 |
|  | India |  |  | Singapore |  |  | USA |  |  | Mexico |  |  | India |  |  | Singapore |  |  | USA |  |  | Mexico |
Deferred tax assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Property and equipment |  |  | 271 |  |  |  | - |  |  |  | - |  |  |  | 1 |  |  |  | 231 |  |  |  | - |  |  |  | - |  |  |  | - |
Gratuity |  |  | 479 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 341 |  |  |  | - |  |  |  | - |  |  |  | - |
Deferred rent liability |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Compensated absences |  |  | 660 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 481 |  |  |  | - |  |  |  | - |  |  |  | - |
Expenses allowed on payment basis / upon deposit of withholding taxes under section 43B / 40(a)(ia) of Indian Income Tax Act, 1961 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 12 |  |  |  | - |  |  |  | - |  |  |  | - |
Net operating losses |  |  | 30 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 34 |  |  |  | 35 |  |  |  | - |  |  |  | - |
Finance lease |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 137 |  |  |  | - |  |  |  | - |  |  |  | - |
Intangible assets under development |  |  | 4 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 4 |  |  |  | - |  |  |  | - |  |  |  | - |
Provision for expenses |  |  | 288 |  |  |  | 61 |  |  |  | 37 |  |  |  | 90 |  |  |  | 122 |  |  |  | - |  |  |  | - |  |  |  | - |
Operating lease liabilities |  |  | 1,879 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,487 |  |  |  | - |  |  |  | - |  |  |  | - |
Others |  |  | 76 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 15 |  |  |  | - |  |  |  | - |  |  |  | - |
Deferred tax asset before valuation allowance |  |  | 3,687 |  |  |  | 61 |  |  |  | 37 |  |  |  | 91 |  |  |  | 2,864 |  |  |  | 35 |  |  |  | - |  |  |  | - |
Valuation Allowance |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (158 | ) |  |  | (35 | ) |  |  | - |  |  |  | - |
Deferred tax asset, net of valuation allowance |  |  | 3,687 |  |  |  | 61 |  |  |  | 37 |  |  |  | 91 |  |  |  | 2,706 |  |  |  | - |  |  |  | - |  |  |  | - |
|  | As of March 31, |
|  | 2024 |  |  | 2023 |
|  | India |  |  | Singapore |  |  | USA |  |  | Mexico |  |  | India |  |  | Singapore |  |  | USA |  |  | Mexico |
Deferred tax liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investments |  |  | (139 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (136 | ) |  |  | - |  |  |  | - |  |  |  | - |
Property and equipment |  |  | - |  |  |  | - |  |  |  | (3 | ) |  |  | - |  |  |  | (29 | ) |  |  | - |  |  |  | (2 | ) |  |  | - |
Operating right-of-use assets |  |  | (1,784 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (1,416 | ) |  |  | - |  |  |  | - |  |  |  | - |
Others |  |  | (33 | ) |  |  | - |  |  |  | - |  |  |  | (76 | ) |  |  | (54 | ) |  |  | - |  |  |  | - |  |  |  | - |
Deferred tax liability |  |  | (1,956 | ) |  |  | - |  |  |  | (3 | ) |  |  | (76 | ) |  |  | (1,635 | ) |  |  | - |  |  |  | (2 | ) |  |  | - |
Net deferred tax asset (liability) |  |  | 1,731 |  |  |  | 61 |  |  |  | 34 |  |  |  | 15 |  |  |  | 1,071 |  |  |  | - |  |  |  | (2 | ) |  |  | - |
Components of deferred taxes |
Components of deferred taxes |  |  |  |  |  |  |  |
|  | As of March 31, |
Classified as |  | 2024 |  |  | 2023 |
Deferred tax assets non-current |  | $ | 1,933 |  |  | $ | 1,237 |
Deferred tax liabilities non-current |  |  | 92 |  |  |  | 168 |
|  | $ | 1,841 |  |  | $ | 1,069 |

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