Company: ZCARW
Filing Date: 2025-05-05
Form Type: S-1
Source: 0001213900-25-039778
Chunk: 300

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-05-05
Form: S-1
Chunk 300
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 effective tax rate differs from the statutory tax rate of % for the years ended March 31,
2024 and 2023, due to changes in valuation allowance on the deferred tax assets.

The Company files tax returns in the U.S. federal, various
state, and foreign jurisdictions. In the normal course of business, the Company is subject to examination by tax authorities. Our major
tax jurisdiction is in India. The Indian tax authority is currently examining our 2016 through 2022 tax returns.

As at December 31, 2024, tax returns for years ended March
31, 2020 and onward remain subject to examination by tax authorities in India. There are other ongoing audits in various other jurisdictions
that are not material to our Condensed Consolidated Financial Statements.

The Company has received various orders from Indian tax
authorities, for details Refer Note 32.

| 27 | Net loss per share |

(In USD, except loss per share)

| (In                                                            
 USD, except loss per share)                                    |     | 2024 | Three months ended 
       December 31, |   |     | 2023 |            |     | 2024 | Nine months ended 
      December 31, |   |     | 2023 |             |   |
|:---------------------------------------------------------------|:----|:-----|-------------------:|:--|:----|:-----|-----------:|:----|:-----|------------------:|:--|:----|:-----|------------:|:--|
| Net loss available for common shareholders (A)                 |     | $    |         (7,922,063 | ) |     | $    | 14,425,439 |     | $    |       (13,805,617 | ) |     | $    | (26,757,978 | ) |
| Weighted average outstanding shares of common stock (B)        |     |      |            111,175 |   |     |      |      2,135 |     |      |            70,326 |   |     |      |       1,232 |   |
| Dilutive effect of potentially dilutive outstanding securities |     |      |                  - |   |     |      |      6,430 |     |      |                 - |   |     |      |           - |   |
| Common stock and common stock equivalents (C)                  |     |      |            111,