Property and Equipment, Net

9 Months Ended

12 Months Ended

Dec. 31, 2023

Mar. 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.

6.Property and equipment, net

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

	As of March 31, 2023			As of March 31, 2022
Computers		370,516			375,786
Office equipment		153,432			97,825
Furniture & fixtures		69,338			57,768
Electrical equipment		6,312			6,845
Leasehold improvements		21,381			23,187
Total		620,979			561,411
Less: accumulated depreciation		(388,486	)		(402,419	)
Property and equipment, net		232,493			158,992

The Company capitalized $59,568 (net of disposal and CTA impact of $137,230 and $43,496 respectively) and $107,833 (net of disposal and CTA impact of $2,614 and $14,248, respectively) for the year ended March 31, 2023 and 2022, respectively. The Company capitalized $115,383 and $81,716 towards computers for the years ended March 31, 2023 and 2022, respectively. Depreciation expense relating to property and equipment amounted to $145,614 and $81,349 for March 31, 2023 and 2022, respectively, out of which $97,996 and $48,234 relates to computers for March 31, 2023 and 2022, respectively.