Company: ZCARW
Filing Date: 2025-03-04
Form Type: S-1
Source: 0001213900-25-020176
Chunk: 296

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-04
Form: S-1
Chunk 296
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 31, 2023 by using a forecasted annual effective tax rate and adjust for any discrete items arising during the period. The Company has recorded $ NILtax expense for all of the periods. Our effective tax rate was 0.00%, 0.00%, 0.00% and 0.00% for the three months and nine months ended December 31, 2024 and December 31, 2023, respectively. The Company has computed a valuation allowance on deferred tax assets for the nine months ending December 31, 2024 and hence no deferred tax asset is recognized as of December 31, 2024. The effective tax rate differs from the statutory tax rate of 21% 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 |

The components of basic and diluted loss per share were as follows:(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 | )