NOTE 7 - INCOME TAXES
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2013
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Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||
Income Tax Disclosure [Text Block] |
NOTE
7 – INCOME TAXES
Pursuant
to ASC 740, the Company is required to compute tax asset
benefits for net operating losses carried forward. Potential
benefit of net operating losses have not been recognized in
these financial statements because the Company cannot be
assured it is more likely than not it will utilize the net
operating losses carried forward in future years.
The
components of the net deferred tax asset are as
follows:
For
the years ended March 31, 2013 and 2012, a reconciliation of
the statutory tax rate to the effective tax rate is as
follows:
Potential
benefits of income tax losses are not recognized until
realization is more likely than not. As at March
31, 2013, the Company has a net operating loss carry-forward
of $586,168 which may be applied to reduce future taxable
income in the United States. The net operating
losses expire as follows:
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