Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 2211

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 7A
Chunk 2211
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 at the Balance Sheet
date. Retained earnings and other equity items are translated at historical rates, revenues and expenses are translated at average exchange
rates during the year. Foreign currency translation adjustments are recorded within accumulated other comprehensive income, a separate
component of total equity (deficit).

F-10

ZOOMCAR HOLDINGS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

2.Summary of Significant Accounting Policies  (Continued)

v.Comprehensive Income (Loss)

Comprehensive income (loss) consists
of two components, net income (loss) and other comprehensive income (loss), net of tax. Other comprehensive income (loss), net of tax,
refers to revenue, expenses, gains, and losses that under generally accepted accounting principles are recorded as an element of members’
equity but are excluded from net income (loss). The Company’s other comprehensive income (loss), net of tax, consists of foreign
currency translation adjustments that result from consolidation of its foreign entities and actuarial gain/ (loss) on defined benefit
obligations.

vi.Revenue recognition

During the year
ended March 31, 2025 and March 31, 2024, the Company derives its revenue principally from the following:

Facilitation revenue

Zoomcar Host Services is a marketplace
feature of the platform that helps owners of vehicles (“Hosts/ Customer/Lessors”) connect with users (“Renters/Lessee”)
in temporary need of a vehicle on leasehold basis for their personal use.

Facilitation Services revenue consists
of facilitation fees charged to Hosts, net of incentives and refunds and trip protection charged to the Renters. The Company’s primary
performance obligation in the transaction towards the Host is to facilitate the successful completion of the rental transaction and towards
the renter is to offer trip protection.

Customer support is rendered to both
the Host (customer/lessor) and the renter (lessee). Company being the intermediary between the two provides its platform through which
all communication takes place related to any services e.g., extension of trip period. Such services also include the normal customer support
related to any vehicle breakdowns, tracking of vehicles, renter background checks, vehicle ownership checks and various other activities
which are part of an ongoing set of series required for successful listing, renting and completion of trip. These activities are not distinct
from each other and are not separate performance obligations. As a result, these series of services integrate together to form a single
performance