Related Party Transactions
|9 Months Ended|
Mar. 31, 2020
|Related Party Transactions [Abstract]|
|Related Party Transactions||
NOTE 6 – RELATED PARTY TRANSACTIONS
In November 2004, the Company entered into a joint venture with 1insurer, formerly Innovation Group, called NetSol-Innovation. NetSol-Innovation provided support services to 1insurer. During the three and nine months ended March 31, 2020, NetSol Innovation provided $Nil services. During the three and nine months ended March 31, 2019, NetSol Innovation provided services of $Nil and $67,286, respectively. Accounts receivable at March 31, 2020 and June 30, 2019 were $Nil and $2,130,041, respectively.
The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef