Company: ZCARW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110391
Chunk: 54

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 54
---
) 
     (92,749) 
     (101,140)
  
    Total 
    $(1,657,647) 
    $(28,007) 
    $427,022  
    $(1,031,781)

**This
relates to damages payable to Investors on account of delay in filing of registration statements for securities issued under multiple
offerings made during the year.

(This
space has been left intentionally blank)

39

ZOOMCAR
HOLDINGS, INC.

NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

22Income
taxes

The
components of (loss)/gain before income taxes consist of the following:

    (In USD) 
    Three months ended  September 30,  
    Six months ended  September 30, 

    2025  
    2024  
    2025  
    2024 

    Domestic 
    $(3,142,651) 
    $(2,463,842) 
    $(6,796,266) 
    $(2,182,865)
  
    Foreign 
     2,348,502  
     (888,133) 
     1,796,804  
     (3,700,689)
  
    Loss before income taxes 
    $(794,149) 
    $(3,351,975) 
    $(4,999,462) 
    $(5,883,554)

Zoomcar
Holdings, Inc. 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 2023 tax returns. There are other ongoing audits in various other jurisdictions that are not material to our financial
statements.

The Company has filed appeals against the above orders before higher authority.

The
Company has computed income tax expense/(benefit) for the three months ended September 30, 2025 and September 30, 2024 by using a forecasted
annual effective tax rate and adjust for any discrete items arising during the period. The Company has recorded $NIL tax expense for
the given periods. Our effective tax rate was 0.00% for the three months and six months ended September 30, 2025 and