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PROPERTY AND EQUIPMENT, NET | 12 Months Ended
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Mar. 31, 2025
Property, Plant and Equipment [Abstract] |
PROPERTY AND EQUIPMENT, NET | 2. PROPERTY AND EQUIPMENT, NET Property and equipment, net, consist of the following:
Schedule of property and equipment, net |  |  |  |  |  |
|  | March 31, 2025 |  |  | March 31, 2024 |
Furniture and office equipment, at cost |  | $ | 1,112,648 |  |  | $ | 1,112,648 |
Less: disposals |  |  | (350,670 | ) |  |  | – |
Leasehold improvements |  |  | 893,131 |  |  |  | 893,131 |
Gross property and equipment |  |  | 1,655,109 |  |  |  | 2,005,779 |
Less: accumulated depreciation |  |  | (978,889 | ) |  |  | (990,550 | )
Fixed assets, net |  | $ | 676,220 |  |  | $ | 1,015,229 |
Depreciation expense for the fiscal years ended March 31, 2025 and 2024 was $339,009 and $358,507, respectively. During the year ended March 31, 2025, the Company disposed of fully depreciated property and equipment with an original cost of $350,670. These disposals had no impact on net income, as the assets were fully depreciated at the time of removal. The reduction in gross property and equipment reflects the Company’s ongoing review and retirement of inactive or obsolete assets.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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