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Property and Equipment
 12 Months Ended
Mar. 31, 2024
Property and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

Note 6 – PROPERTY AND EQUIPMENT

 

Property and equipment consisted of the following:

 

   March 31,
2024		   March 31,
2023		 
Building  $5,617,617   $6,072,388 
Leasehold improvements   3,503,702    3,134,716 
Farmland development cost   1,656,357    1,741,422 
Office equipment and furniture   5,729,499    5,811,887 
Motor vehicles   421,234    358,542 
Total   16,928,409    17,118,955 
Less: Accumulated depreciation   (10,355,233)   (10,266,513)
Impairment*   (1,666,587)   (1,752,178)
Property and equipment, net  $4,906,589   $5,100,264 

 

* The variance of impairment from March 31, 2023 to March 31, 2024 is solely caused by exchange rate variance.

 

Total depreciation expense for property and equipment was $693,537 and $625,739 for the year ended March 31, 2024 and 2023, respectively. There were no fixed assets impaired in the years ended March 31, 2024 and March 31, 2023.