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Income Taxes (Tables) | 12 Months Ended
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Mar. 31, 2024
Income Taxes [Abstract] |
Schedule of Current and Deferred Portions of the Income Tax Expenses (Benefits) | The current and deferred portions of the income tax expenses (income) included in the consolidated statements of operations and comprehensive loss as determined in accordance with ASC 740 are as follows:
|  | For the Years Ended March 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Current taxes |  | $ | 15,856 |  |  | $ | - |  |  | $ | - |
Deferred taxes |  |  | (2,497 | ) |  |  | (524 | ) |  |  | 792 |
Income tax expenses (income) |  | $ | 13,359 |  |  | $ | (524 | ) |  | $ | 792 |
Schedule of Expected Income Tax Expense (Benefits) | A reconciliation of the difference between the expected income tax expense (benefits) computed at Hong Kong profits tax rate of 16.5% and the Group’s reported income tax benefits is shown in the following table:
|  | For the Years Ended March 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Loss before income taxes |  | $ | (4,576,119 | ) |  | $ | (207,693 | ) |  | $ | (510,113 | )
Applicable income tax rate |  |  | 16.5 | % |  |  | 16.5 | % |  |  | 16.5 | %
Income tax benefits at applicable income tax rate |  | $ | (755,060 | ) |  | $ | (34,270 | ) |  | $ | (84,169 | )
Non-deductible expenses(1) |  |  | 642,533 |  |  |  | 79,652 |  |  |  | 451 |
Income not subject to tax |  |  | (40 | ) |  |  | (22 | ) |  |  | (2 | )
Tax effect of two-tiered profits tax rates |  |  | (62,480 | ) |  |  | (22,680 | ) |  |  | 41,860 |
Under-provision in previous years |  |  | 26,762 |  |  |  | - |  |  |  | - |
Change in valuation allowance |  |  | 161,644 |  |  |  | (23,204 | ) |  |  | 42,652 |
Income tax expenses (income) |  | $ | 13,359 |  |  | $ | (524 | ) |  | $ | 792 |
| (1) | Non-deductible expenses for the year ended March 31, 2024 mainly represented expenses incurred by the Company and IWHL, while non-deductible expense for the years ended March 31, 2023 and 2022 mainly represented expenses incurred by IWHL. Since the Company and IWHL are holding companies with no operations, these expenses were not allowed to be carried forward and set off profits in subsequent periods according to Hong Kong tax laws.
Schedule of Deferred Tax Assets and Liabilities | Components of the Group’s deferred tax assets and liabilities are as follows:
|  | As of March 31, |
|  | 2024 |  |  | 2023 |
Deferred tax assets: |  |  |  |  |  |  |  |
Allowance for credit loss |  | $ | 1,265 |  |  | $ | - |
Net operating loss carry forwards |  |  | 214,543 |  |  |  | 52,750 |
Depreciation and amortization |  |  | 1,395 |  |  |  | 163 |
Less: valuation allowances |  |  | (214,543 | ) |  |  | (52,750 | )
Total deferred tax assets, net |  | $ | 2,660 |  |  | $ | 163 |
Schedule of Valuation Allowance Against Deferred Tax Assets | Movement of the Group’s valuation allowance against deferred tax assets is as follows:
|  | 2024 |  |  | 2023 |
Balance at April 1 |  | $ | 52,750 |  |  | $ | 73,777 |
Increase recognized in the income statement |  |  | 161,644 |  |  |  | (23,204 | )
Exchange difference |  |  | 149 |  |  |  | 2,177 |
Balance at March 31 |  | $ | 214,543 |  |  | $ | 52,750 |

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