Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 1484

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 4
Chunk 1484
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 losses are probable and can be reasonably estimated. These accruals are adjusted as additional information becomes available or
circumstances change.

xxx.Segment information

Operating segments are defined as
components of an entity for which discrete financial information is available and is regularly reviewed by the Chief Operating Decision
Maker (“CODM”) in making decisions regarding resource allocation and performance assessment. The Company’s CODM is its
Board of Directors. The Company has determined it has one operating and reportable segment as the CODM reviews financial information presented
on a consolidated basis for purposes of allocating resources and evaluating financial performance.

xxxi. Common Stock Reverse Split

In October 2024 and March 2025, the
Company effectuated a one-for-hundred and a one-for- twenty reverse stock split respectively. All share, stock option and warrant information
has been retroactively adjusted to reflect these stock splits. See Note 3 for additional disclosure.

xxxii. Recent Accounting Pronouncements

Accounting Pronouncement Adopted

In November 2023, the Financial Accounting
Standards Board (“FASB”) issued Accounting Standards Update No. 2023-07, “Segment Reporting (ASC 280): Improvements
to Reportable Segment Disclosures” (“ASU 2023-07”). The guidance is effective for fiscal years beginning after December
15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company has adopted
the same for the fiscal year beginning on April 1, 2024 and the disclosures presented in the Company’s Consolidated Financial Statements
includes the same.

F-21

ZOOMCAR HOLDINGS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

2.Summary of Significant Accounting Policies (Continued)

Accounting Pronouncement Pending
Adoption

In December 2023, the FASB
issued ASU 2023-09 “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” to improve income tax disclosure
requirements by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) the
disaggregation of income taxes paid by jurisdiction. The guidance makes several other changes to the income tax disclosure
requirements. The guidance in ASU 2023-09 will be effective for annual reporting periods in fiscal years beginning after December
15, 2024. The Company is currently evaluating the impact that the adoption of ASU