Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 1314

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 3
Chunk 1314
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2% 
     -23.6%
  
    Difference in tax rates 
     1.2% 
     2.6%
  
    Effective tax rate 
     0.0% 
     0.0%
  
    Current Tax expense 
     -  
     - 
  
    Deferred Tax expense 
     -  
     - 
  
    Income tax expense reported in the Statement of profit and loss/Effective Tax Rate 
     -  
     - 

Zoomcar Holdings, Inc. has unused tax losses amounting to $7,419,217
and $57,385 as at March 31, 2025 and March 31, 2024 which can be carried forward indefinitely.

Zoomcar , Inc. has unused tax losses amounting to $44,313,887 and $43,682,141
as at March 31, 2025 and March 31, 2024. $43,498,761 can be carried forward indefinitely, whereas $64,347 can be carried forward upto
2033; $294,720 upto 2034; $220,520 upto 2035; $115,253 upto 2036 and $120,286 upto 2037.

The Company’s operations are primarily based out of Indian jurisdiction.
There are unused tax losses amounting to $113,344,007 and $138,314,491 as at March 31, 2025 and March 31, 2024, respectively in the Indian
subsidiary. The tax benefit for these losses, if not utilized, will expire on various dates starting from financial year 2024 to 2031.
Additionally, net operating losses amounting to $38,896,865 (March 31, 2024: $39,298,484) is available for set-off against future income
without any expiration date. Under the Indian jurisdiction, a period of 3 financial years remain open to assessment by tax authorities
or a period of 10 financial years if the assessing officer has evidence that undeclared income exceeds certain limit.

The Company has created valuation allowance on the deferred tax asset resulting from such losses due to Company’s history of past losses
and lack of conclusive evidence to support the view that sufficient taxable profit will be generated in the future by the Company to offset
such losses.

Zoomcar Holdings, Inc. files tax returns in the
U.S. federal, various state, and foreign jurisdictions.