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Related Party Transactions
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6 Months Ended |
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Dec. 31, 2014
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| Related Party Transactions [Abstract] | |
| Related Party Transactions |
NOTE 5 – RELATED PARTY TRANSACTIONS
In November 2004, the Company entered into a joint venture agreement with the Innovation Group called NetSol-Innovation (Pvt) Ltd., (“NetSol-Innovation”), a Pakistani company. NetSol-Innovation provides support services to the Innovation Group. During the three and six months ended December 31, 2014, NetSol-Innovation provided services of $1,354,476 and $2,750,476, respectively. During the three and six months ended December 31, 2013, NetSol-Innovation provided services of $1,256,899 and $2,224,442, respectively. Accounts receivable at December 31, 2014 and June 30, 2014 were $2,123,567 and $2,232,610, respectively. |
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- Definition
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/presentationRef
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