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Property and Equipment, Net
 9 Months Ended
Dec. 31, 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
December 31,
2023

 

 

As of
March 31,
2023

 

Computers

 

 

 

 

 

648,120

 

 

 

370,516

 

Office equipment

 

 

 

 

 

440,230

 

 

 

153,432

 

Furniture & fixtures

 

 

 

 

 

198,364

 

 

 

69,338

 

Electrical equipment

 

 

 

 

 

30,983

 

 

 

6,312

 

Leasehold improvements

 

 

 

 

 

31,772

 

 

 

21,381

 

Total

 

 

 

 

 

1,349,469

 

 

 

620,979

 

Less: accumulated depreciation

 

 

 

 

 

(824,985

)

 

 

(388,486

)

Property and equipment, net

 

 

 

 

 

524,484

 

 

 

232,493

 

 

The Company capitalized $728,490 (net of disposal and CTA impact of $0 and $(1,478), respectively) and $59,568 (net of disposal and CTA impact of $137,230 and $43,496, respectively) for the periods ended December 31, 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 $20,463 and $115,383 towards computers for the periods ended December 31, 2023 and March 31, 2023, respectively. Depreciation expense relating to property and equipment amounted to $171,268 and $145,614 for the periods ended December 31, 2023 and for March 31, 2023 respectively out of which $45,392 and $97,996 relate to computer for the periods ended December 31, 2023 and March 31, 2023, respectively.