Company: RMSGW
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001641172-25-021609
Chunk: 83

Company: Real Messenger Corp
Filing Date: 2025-07-31
Form: 20-F
Item: Item 5
Chunk 83
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 within the carryforward period available
under applicable tax law. As of March 31, 2025 and 2024, due to uncertainties surrounding future utilization, we accrued full valuation
allowance against the deferred tax assets based upon management’s assessment as to their realization.

As
of March 31, 2025 and 2024, the valuation allowance for deferred tax assets was $3.7 million and $2.8 million, respectively.

  58  

Recently
Issued Accounting Pronouncements

Recently
adopted accounting standard

In
November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280), Improvements to Reportable Segment Disclosures. The purpose
of the update was to improve financial reporting by requiring disclosures of incremental segment information on an annual and interim
basis for all public entities to enable investors to develop more decision-useful financial analyses. The amendments in this ASU are
effective for fiscal years beginning after December 15, 2023 (fiscal 2025 for the Company). The Company adopted this standard effective
April 1, 2024 retrospectively for all periods presented.

Recently
issued accounting standards not yet adopted

In
December 2023, the FASB issued ASU 2023-09, Improvements to Tax Disclosures (Topic 740),

In
November 2024, the FASB issued ASU No. 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures
(Subtopic 220-40): Disaggregation of Income Statement Expenses (“ ASU 2024-03”), and in January 2025, the FASB issued ASU
No. 2025-01, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the
Effective Date (“ ASU 2025-01”). ASU 2024-03 requires additional disclosure of the nature of expenses included in the income
statement as well as disclosures about specific types of expenses included in the expense captions presented in the income statement.
ASU 2024-03, as clarified by ASU 2025-01, is effective for annual reporting periods beginning after December 15, 2026, and interim periods
within annual reporting periods beginning after December 15, 2027. Both early adoption and retrospective application are permitted. The
Company is currently evaluating the impact that