Income Tax (Tables)

12 Months Ended

Mar. 31, 2024

Income Tax [Abstract]

Schedule of Income Tax

Income tax consist of the following for the year ended March 31, 2024:

	For the year ended March 31, 2024		For the year ended March 31, 2023
	(US$)		(US$)
Current tax expenses	$	119,238	$	387,407
Deferred tax (benefit)/expense		28,241		135,640
Income tax expense	$	147,479	$	523,047

Schedule of Consolidated Statement of Comprehensive Income

Consolidated statement of comprehensive income

	For the year ended March 31, 2024			For the year ended March 31, 2023
	(US$)			(US$)
Deferred tax related to item charged directly to equity:
Net loss/(gain) on translations of foreign subsidiaries	$	(27,701	)	$	(72,663	)
Total	$	(27,701	)	$	(72,663	)

Schedule of Reconciliation of Deferred Tax (Liabilities)/Asset Net

Current and deferred tax is recognized in the income statement unless the item to which the tax relates was recognized outside the income statement being other comprehensive income or equity. The tax associated with such an item is also recognized in other comprehensive income or equity respectively.

	As of March 31, 2024			As of March 31, 2023
	(US$)			(US$)
Accounting profit before tax	$	800,653		$	(1,112,790	)
Less: Net profit/(loss) of the Lytus BVI and non-taxable loss/(profit) of GHSI		114,296			(3,134,953	)
Net Accounting profit		686,357			2,022,163
At Indian statutory income tax rate of 25.17%		224,878			508,979
Accelerated tax depreciation		(131,667	)		(139,328	)
Others mainly timing differences		19,728			8,038
Exchange differences		6,299			(9,718	)
Current income tax expense reported on consolidated statements of profit or loss and other comprehensive income	$	119,238			387,407

Schedule of Financial Statement

Reflected in the financial statement of financial position as follows:

	As of March 31, 2024			As of March 31, 2023
	(US$)			(US$)
Opening balance	$	399,174			3,305,308
Acquired in business combination		—			121,319
Current income tax accrual		119,238		$	387,407
Adjustment on account of modification		—			(3,399,850	)
Exchange rate difference		(3,565	)		(15,010	)
Taxes paid/adjustments		(354,581	)		—
Closing balance of current income taxes payables	$	160,266		$	399,174

Schedule of Deferred Tax

Deferred tax relates to the following temporary differences:

	As of March 31, 2024		As of March 31, 2023
	(US$)		(US$)
Deferred tax assets
Temporary timing differences	$	70,463	$	(22,878	)
Foreign currency translations of foreign subsidiary		—		126,624
Total deferred tax assets	$	70,463	$	103,746
Deferred tax liabilities
Accelerated depreciation on tangible and intangible assets	$	498,112	$	1,625,271
Acquired in business combination		—		295,177
Temporary differences		—		9,929
On translations of foreign subsidiary operations		3,381		72,663
Reversed in deconsolidation/Modification of contracts		—		(1,533,644	)
Exchange rate difference		—		(8,963	)
Total deferred tax liabilities	$	494,731	$	478,359

Schedule of Reconciliation of Deferred Tax (Liabilities)/Asset Net

Reconciliation of deferred tax (liabilities)/asset net:

	As of March 31, 2024			As of March 31, 2023
	(US$)			(US$)
Opening balance	$	(374,613	)	$	(1,407,020	)
Tax expense during the period recognised in profit & loss		(131,677	)		(135,640	)
Exchange rate difference		(6,134	)		(37,613	)
Tax expenses during the period recognised in other comprehensive income		39,771			(72,663	)
Temporary timing differences		31,066			(9,929	)
Reversed on deconsolidation of a subsidiary		(146,715	)		(1,510,767	)
Acquired in business combination		—			(295,177	)
Total deferred tax (liabilities)/assets net	$	(424,268	)	$	(374,613	)