Company: ZCARW
Filing Date: 2025-03-04
Form Type: S-1
Source: 0001213900-25-020176
Chunk: 341

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-04
Form: S-1
Chunk 341
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 Other tax receivables              |       |   |     18,126 |   |     |   |    51,838 |
|                                    |       |   |     18,126 |   |     |   |   248,321 |

| * | As of March 31, 2024, the                                                                                                                
 Company recorded an allowance for impairment of tax credits for an amount of $3,849,317                                                  
 for estimated losses resulting from unlikely utilization of the tax credits. This allowance for impairment of tax credits was determined 
 by estimating future uses of tax credits against output Goods and Service Tax (“GST”).                                                   |

| ** | Although these taxes are contractually                                                                                                 
 available to the Company immediately, the Company has accounted for these credits as non-current based upon their expected utilization 
 period.                                                                                                                                |

| 8 (a) | Short term investments |

The components of short term investments were as follows:

| (In USD)                 
 As at                    |     | March 
 31,   
 2024  |         |     | March 
 31,   
 2023  |   |
|:-------------------------|:----|:------|--------:|:----|:------|:--|
| Certificate of deposits* |     | $     | 298,495 |     | $     | - |
| Short term investments   |     |       | 298,495 |     |       | - |

| * | In April 2024, Lease Plan                                                                                                                    
 India Private Limited invoked the bank guarantee provided as bank guarantee during the restructuring process, resulting in the adjustment    
 of a certificate of deposit amounting to $127,609.                                                                                           
 However, as of March 31, 2024, the event has considered probable and thus, certificate of deposits has been adjusted against the outstanding 
 liability of Lease Plan India Private Limited as of balance sheet date (Refer Note 12).                                                      |

Further, certificate of deposits amounting to $ 259,992with Mahindra and Mahindra Financial Services are under lien against debt availed. These were presented under “Short term investments with related parties” and “Investments with related parties” as on March 31, 2023. (Refer Note 8(b) and 14(b)).

| 8 (b) | Short term investments with related 
 parties                             |

The components of short term investments were as follows:

(In USD)

| As at                   |     | March 
 31