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Property and Equipment, Net
 6 Months Ended
Sep. 30, 2023
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net
8.
Property and equipment, net

The components of property and equipment, net were as follows:

 

 

 

 

 

 

As of
September 30,
2023

 

 

As of
March 31,
2023

 

Computers

 

 

 

 

 

597,592

 

 

 

370,516

 

Office equipment

 

 

 

 

 

239,776

 

 

 

153,432

 

Furniture & fixtures

 

 

 

 

 

193,366

 

 

 

69,338

 

Electrical equipment

 

 

 

 

 

30,996

 

 

 

6,312

 

Leasehold improvements

 

 

 

 

 

31,816

 

 

 

21,381

 

Total

 

 

 

 

 

1,093,546

 

 

 

620,979

 

Less: Accumulated depreciation

 

 

 

 

 

(788,211

)

 

 

(388,486

)

Property and equipment, net

 

 

 

 

 

305,335

 

 

 

232,493

 

 

The Company capitalized $472,567 (net of disposal and CTA impact of $0 and $(8,163) respectively) and $59,568 (net of disposal and CTA impact of $137,230 and $43,496 respectively) for the period ended September 30, 2023 and as of March 31, 2023, respectively, out of which $396,123 is related to acquisitions of FA Premium Insurance Broking Pvt. Ltd., Global Insurance Management Limited and National Automobile Club. The Company capitalized $5,871 and $115,383 towards computers for the period ended September 30, 2023 and March 31, 2023, respectively. Depreciation expense relating to property and equipment amounted to $117,869 and $145,614 for the period ended September 30, 2023 and for March 31, 2023 respectively, out of which $29,509 and $97,996 relates to computer for the period ended September 30, 2023 and March 31, 2023 respectively.