Discontinued Operations (Table)

6 Months Ended

Sep. 30, 2017

Table Text Block [Abstract]

Schedule of consolidated balance sheets of discontinued operations

	September 30,		March 31,
	2017		2017
	(Unaudited)		(Audited)
ASSETS
Assets
Cash and cash equivalents	$	—	$	71,657
Cash held in escrow		—		304,851
Other assets		—		56,890
Total assets	$	—	$	433,398
Liabilities
Mortgage notes payable	$	—	$	6,641,508
Accounts payable		—		26,061
Accrued interest payable		—		8,645,541
Security deposits payable		—		48,940
Due to general partners and affiliates (Note 2)		—		224,703
Total liabilities	$	—	$	15,586,753

Schedule of consolidated statement of operations of discontinued operations

	Three Months Ended				Six Months Ended
	September 30,				September 30,
	2017		2016		2017		2016
Revenues	$	—	$	—	$	—	$	—
Rental income		—		200,801		188,906		405,410
Other		—		—		3,585		10,662
(Loss) gain on sale of property (Note 4)		(240)		5,908		15,254,683		—
Total revenue		(240)		206,709		15,447,174		416,072
Expenses
General and administrative		—		85,015		58,947		211,492
General and administrative-related parties (Note 2)		—		15,121		13,248		30,397
Repairs and maintenance		—		62,299		40,464		107,804
Operating and other		—		20,313		29,286		41,351
Real estate taxes		—		14,152		13,626		28,173
Insurance		—		8,750		7,500		17,500
Interest		—		104,719		104,414		209,437
Depreciation and amortization		—		—		—		—
Total expenses		—		310,369		267,485		646,154
Income (loss) from discontinued operations		(240)		(103,660)		15,179,689		(230,082)
Noncontrolling interest in (income) loss of subsidiaries from discontinued operations		—		1,048		(571,741)		2,324
Income (loss) from discontinued operations – Independence Tax Credit Plus L.P. II	$	(240)	$	(102,612)	$	14,607,948	$	(227,758)
Income (loss) from discontinued operations – limited partners	$	(238)	$	(101,586)	$	14,461,869	$	(225,480)
Number of BACs outstanding		58,928		58,928		58,928		58,928
Income (loss) from discontinued operations per weighted average BAC	$	(0.00)	$	(1.72)	$	245.42	$	(3.82)

Schedule of consolidated cash flows statement of discontinued operations

	Six Months Ended
	September 30,
	2017		2016
Net cash provided by (used in) operating activities	$	6,383,380	$	(18,564)
Net cash provided by (used in) investing activities	$	186,471	$	(18,433)
Net cash used in financing activities	$	(6,641,508)	$	(9,647)