Company: ZCARW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076590
Chunk: 44

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 44
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2,531,579)

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 June 30, 2025 and June 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%, 0.00% for the three months ended June 30, 2025 and June 30, 2024, respectively. The Company
has computed a valuation allowance on deferred tax assets for the quarter ending June 30, 2025 and hence no deferred tax asset is recognized
as of June 30, 2025. The effective tax rate differs from the statutory tax rate of 21% for the quarter ended June 30, 2025 and 2024, due
to changes in valuation allowance on the deferred tax assets.

The Company has received various orders from Indian tax authorities, for
details Refer Note 29.

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blank)

33

ZOOMCAR HOLDINGS, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

23Net loss per share

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

    (In USD, except loss per share) 
    June 30, 2025  
    June 30, 2024 

    Net loss available for common shareholders (A) 
    $(4,205,313) 
    $(2,531,579)
  
    Weighted average outstanding shares of common stock (B) # 
     8,479,554  
     34,256 
  
    Common stock and common stock equivalents (C) # 
     8,479,554  
     34,256 
  
    Loss per share 

    Basic (A/B) 
    $(0.50)