Company: MAGH
Filing Date: 2025-03-20
Form Type: DRS/A
Source: 0001641172-25-000048
Chunk: 213

Company: Magnitude International Ltd
Filing Date: 2025-03-20
Form: DRS/A
Chunk 213
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531 |   |     |   15,853 |   |     |   11,626 |   |

| F-33 |

<div align='center'>MAGNITUDE INTERNATIONAL LTD AND ITS SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</div>

| 20. | Income                  
 tax expense (Continued) |

Relationship between tax expense and accounting profits

A reconciliation between tax expense and the product of accounting profits multiplied by Singapore corporate income tax rate for the financial years ended April 30, 2023 and 2024 were as follows:

|                                               |     |    April 
 30, 2023 |   |     |     April 
  30, 2024 |   |     |     April 
  30, 2024 |   |
|:----------------------------------------------|:----|---------:|:--|:----|----------:|:--|:----|----------:|:--|
|                                               |     |      SGD |   |     |       SGD |   |     |       USD |   |
| Profit before income tax                      |     |  821,266 |   |     | 2,023,322 |   |     | 1,483,809 |   |
| Tax calculated at tax rate of 17% (2023: 17%) |     |  139,615 |   |     |   343,965 |   |     |   252,248 |   |
| Effects of:                                   |     |          |   |     |           |   |     |           |   |
| Income not subject to tax                     |     | (322,318 | ) |     |   (73,980 | ) |     |   (54,253 | ) |
| Expenses not deductible for tax purposes      |     |   16,469 |   |     |    21,114 |   |     |    15,483 |   |
| Tax concessions and deductions                |     |  (41,854 | ) |     |   (17,425 | ) |     |   (12,779 | ) |
| Deferred tax not recognized                   |     |  217,528 |   |     |  (257,821 | ) |     |  (189,073 | ) |
| Under provision in prior financial year       |     |   28,091 |   |     |         - |