Taxes Payable (Tables)

12 Months Ended

Mar. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of current and deferred portions of income tax expense

The current and deferred portions of income tax expense included in the consolidated statements of income were as follows:

	For the years ended March 31
	2024			2023
Current	$	—		$	431,161
Deferred		(27,273	)		(8,249	)
Income tax expense	$	(27,273	)	$	422,912

Schedule of reconciliation between statutory income tax and effective tax

	For the years ended March 31,
	2024			2023			2022
Income before income taxes	$	(4,749,419	)	$	(20,484,073	)	$	(791,672	)
Tax rate		25	%		25	%		25	%
Provision for income taxes at statutory tax rate	$	(1,187,355	)	$	(5,121,018	)	$	(197,918	)
Effect of tax-exempt entity		23,825			557,311			719,274
Effect of pervious year over-paid tax expenses		—			2,446			1,314
Effect of non-tax deductible expenses and loss		25			47			35,847
Effect of deductible prior year loss		—			(11,010	)		(18,406	)
Effect of tax loss not recognized		496,810			1,356,114			68,509
Effect of pervious year over-accrued tax expenses		—			293,334			—
Effect of investment income(loss)not recognized		(424,968	)		(181,107	)		—
Effect of impairment not recognized		1,064,390			3,526,795			—
Income tax expense	$	(27,273	)	$	422,912		$	608,620
Deferred tax assets	$	5,449,652		$	4,892,726		$	68,345
Valuation allowance		(5,449,652	)		(4,892,726	)		(68,345	)
Deferred tax assets, net		—			—			—
Deferred tax liability		—			28,241			38,744
	$	—		$	28,241		$	38,744

Schedule of taxes payable

Taxes payable consisted of the followings:

	As of March 31,
	2024		2023
Income tax payable	$	189,588	$	211,046
VAT payable		4,971		41,092
Other tax payables		—		6,245
Total	$	194,559	$	258,383