Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 1313

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 3
Chunk 1313
---
,316,471)

*During the year, the Company entered into agreements with Randall Yanker,
Aegis Capital Corp and Ellenoff Grossman & Schole LLP for settlement of litigations. Pursuant to the settlement agreements, the Company
agreed to issue shares and warrants to them. (Refer note 23)

**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.

#On March 31, 2025, the Company entered into settlement agreement with
certain investors in exchange for waivers of rights under prior financing agreements. Pursuant to the Settlement Agreement, the Company
agreed to issue shares and warrants to them. (Refer note 23).

    Other (income) - from related parties
  
    Interest income 
    $-  
    $(11,224)
  
    Total 
    $-  
    $(11,224)

F-37

ZOOMCAR HOLDINGS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

27Income taxes

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

    (In USD) 
    March 31, 2025  
    March 31, 2024 

    Domestic 
    $(17,567,764) 
    $(11,618,649)
  
    Foreign 
     (8,054,539) 
     (22,658,603)
  
    Profit/(Loss) before income taxes 
    $(25,622,303) 
    $(34,277,252)

The following is a reconciliation of the statutory federal income tax rate to our effective tax rate

    March 31,
 2025  
    March 31,
 2024 
  
    Accounting profit/(loss) before tax 
     (25,622,303) 
     (34,277,252)
  
    Tax using the Company’s domestic tax rate 
     (5,380,684) 
     (7,198,223)

    Federal statutory income tax rate 
     21.0% 
     21.0%
  
    Tax impact of : 

    U.S. state and local taxes 
     0.3% 
     1.5%
  
    Federal benefit for state taxes 
     -0.3% 
     -1.5%
  
    Valuation allowance 
     -22.