NetSol (NTWK) 10-K 28 Sep 21 2021 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Jun. 30, 2021	Sep. 16, 2021	Dec. 31, 2020
Cover [Abstract]
Entity Registrant Name	NETSOL TECHNOLOGIES INC
Entity Central Index Key	0001039280
Document Type	10-K
Document Period End Date	Jun. 30, 2021
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Entity a Well-known Seasoned Issuer	No
Entity a Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 39,499,442
Entity Common Stock, Shares Outstanding		11,265,064
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2021

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Current assets:
Cash and cash equivalents	$ 33,705,154	$ 20,166,830
Accounts receivable, net of allowance of $166,231 and $435,611	4,184,096	10,131,752
Accounts receivable - related party, net of allowance of $1,373,099 and $90,594		1,282,505
Revenues in excess of billings, net of allowance of $136,976 and $188,914	14,680,131	17,198,281
Revenues in excess of billings - related party, net of allowance of $8,163 and $0		8,163
Other current assets, net of allowance of $1,243,633 and $0	3,009,393	3,108,180
Total current assets	55,578,774	51,895,711
Revenues in excess of billings, net - long term	957,603	1,300,289
Convertible note receivable - related party, net of allowance of $4,250,000 and $0		4,250,000
Property and equipment, net	12,091,812	11,329,631
Right of use of assets - operating leases	1,345,869	2,360,129
Long term investment	3,155,852	2,387,692
Other assets	55,127	41,992
Intangible assets, net	3,904,656	5,391,077
Goodwill	9,516,568	9,516,568
Total assets	86,606,261	88,473,089
Current liabilities:
Accounts payable and accrued expenses	6,696,035	5,769,161
Current portion of loans and obligations under finance leases	11,366,171	9,139,561
Current portion of operating lease obligations	857,729	1,111,912
Unearned revenue	4,556,626	4,095,472
Total current liabilities	23,476,561	20,116,106
Loans and obligations under finance leases; less current maturities	699,841	1,539,975
Operating lease obligations; less current maturities	564,257	1,339,965
Total liabilities	24,740,659	22,996,046
Commitments and contingencies
Stockholders' equity:
Preferred stock, $.01 par value; 500,000 shares authorized;
Common stock, $.01 par value; 14,500,000 shares authorized; 12,181,585 shares issued and 11,265,064 outstanding as of June 30, 2021 and 12,122,149 shares issued and 11,874,646 outstanding as of June 30, 2020	121,816	121,222
Additional paid-in-capital	129,018,826	128,677,754
Treasury stock (at cost, 916,521 shares and 247,503 shares as of June 30, 2021 and June 30, 2020, respectively)	(3,820,750)	(1,455,969)
Accumulated deficit	(38,801,282)	(34,269,817)
Other comprehensive loss	(31,868,481)	(34,085,047)
Total NetSol stockholders' equity	54,650,129	58,988,143
Non-controlling interest	7,215,473	6,488,900
Total stockholders' equity	61,865,602	65,477,043
Total liabilities and stockholders' equity	$ 86,606,261	$ 88,473,089

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Statement of Financial Position [Abstract]
Accounts receivable, allowance	$ 166,231	$ 435,611
Accounts receivable related party, allowance	1,373,099	90,594
Revenues in excess of billings, allowance	136,976	188,914
Revenue in excess of billings - related party allowances	8,163	0
Other current assets allowance	1,243,633	0
Convertible note receivable related party allowances	$ 4,250,000	$ 0
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	500,000	500,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	14,500,000	14,500,000
Common stock, shares issued	12,181,585	12,122,149
Common stock, shares outstanding	11,265,064	11,874,646
Treasury stock, shares	916,521	247,503

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Net Revenues:
Total net revenues	$ 54,920,615	$ 56,372,319
Cost of revenues:
Salaries and consultants	20,969,298	18,821,738
Travel	663,403	4,181,742
Depreciation and amortization	2,990,689	2,897,371
Other	3,944,197	3,508,098
Total cost of revenues	28,567,587	29,408,949
Gross profit	26,353,028	26,963,370
Operating expenses:
Selling and marketing	6,555,004	6,450,663
Depreciation and amortization	965,625	834,583
General and administrative	15,437,382	17,138,832
Research and development cost	674,168	1,468,954
Total operating expenses	23,632,179	25,893,032
Income from operations	2,720,849	1,070,338
Other income and (expenses)
Gain (loss) on sale of assets	(191,935)	23,103
Interest expense	(394,289)	(346,856)
Interest income	1,017,432	1,569,536
Gain (loss) on foreign currency exchange transactions	(597,433)	398,610
Share of net loss from equity investment	(253,819)	(605,864)
Other income	987,444	224,224
Total other income (expenses)	567,400	1,262,753
Net income before income taxes	3,288,249	2,333,091
Income tax provision	(1,026,617)	(1,141,068)
Net income	2,261,632	1,192,023
Non-controlling interest	(483,375)	(254,942)
Net income attributable to NetSol	$ 1,778,257	$ 937,081
Net income per share:
Net income per common share - Basic	$ 0.15	$ 0.08
Net income per common share - Diluted	$ 0.15	$ 0.08
Weighted average number of shares outstanding
Basic	11,499,983	11,734,648
Diluted	11,499,983	11,784,414
License Fees [Member]
Net Revenues:
Total net revenues	$ 6,249,924	$ 3,260,891
Subscription and Support [Member]
Net Revenues:
Total net revenues	22,173,745	20,254,917
Services [Member]
Net Revenues:
Total net revenues	26,448,171	32,555,690
Services - Related Party [Member]
Net Revenues:
Total net revenues	$ 48,775	$ 300,821

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 1,778,257	$ 937,081
Other comprehensive income (loss):
Translation adjustment	2,933,964	(1,229,927)
Translation adjustment attributable to non-controlling interest	(717,398)	269,886
Net translation adjustment	2,216,566	(960,041)
Comprehensive income (loss) attributable to NetSol	$ 3,994,823	$ (22,960)

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity - USD ($)		Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Shares [Member]	Accumulated Deficit [Member]	Other Comprehensive Loss [Member]	Non Controlling Interest [Member]	Total
Balance at Jun. 30, 2019		$ 119,117	$ 127,737,999	$ (1,455,969)	$ (35,206,898)	$ (33,125,006)	$ 8,414,987	$ 66,484,230
Balance, shares at Jun. 30, 2019		11,911,742
Exercise of subsidiary common stock options			(28,097)				39,718	11,621
Subsidiary common stock issued for: Services							158	158
Common stock issued for: Services		$ 2,105	988,345					990,450
Common stock issued for: Services, shares		210,407
Acquisition of non-controlling interest in subsidiary			(20,493)				(30,401)	(50,894)
Dividend to non-controlling interest							(1,920,618)	(1,920,618)
Foreign currency translation adjustment						(960,041)	(269,886)	(1,229,927)
Net income (loss) for the period					937,081		254,942	1,192,023
Balance at Jun. 30, 2020		$ 121,222	128,677,754	(1,455,969)	(34,269,817)	(34,085,047)	6,488,900	65,477,043
Balance, shares at Jun. 30, 2020		12,122,149
Cumulative effect adjustment	[1]				(6,309,722)		(474,578)	(6,784,300)
Subsidiary common stock issued for: Services							378	378
Common stock issued for: Services		$ 594	341,072					341,666
Common stock issued for: Services, shares		59,436
Purchase of treasury shares				(2,364,781)				(2,364,781)
Foreign currency translation adjustment						2,216,566	717,398	2,933,964
Net income (loss) for the period					1,778,257		483,375	2,261,632
Balance at Jun. 30, 2021		$ 121,816	$ 129,018,826	$ (3,820,750)	$ (38,801,282)	$ (31,868,481)	$ 7,215,473	$ 61,865,602
Balance, shares at Jun. 30, 2021		12,181,585
[1]	Cumulative effect adjustment relates to the adoption of Accounting Standard Update No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. Refer to Note 2 - Accounting Policies for more information.

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net income	$ 2,261,632	$ 1,192,023
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	3,956,314	3,731,954
Provision for bad debts	(332,325)	184,944
Share of net loss from investment under equity method	253,819	605,864
(Gain) loss on sale of assets	191,935	(23,103)
Gain on forgiveness of loan	(469,721)
Stock based compensation	342,153	808,616
Changes in operating assets and liabilities:
Accounts receivable	6,861,454	2,035,843
Accounts receivable - related party		1,957,864
Revenues in excess of billing	2,839,709	(3,252,704)
Revenues in excess of billing - related party		105,441
Other current assets	(857,708)	(132,175)
Accounts payable and accrued expenses	474,098	(1,399,828)
Unearned revenue	204,563	(1,842,313)
Net cash provided by operating activities	15,725,923	3,972,426
Cash flows from investing activities:
Purchases of property and equipment	(2,551,283)	(1,377,145)
Sales of property and equipment	188,233	106,180
Convertible note receivable - related party		(600,000)
Investment in associates	(155,500)	(94,500)
Purchase of subsidiary shares		(89,425)
Net cash used in investing activities	(2,518,550)	(2,054,890)
Cash flows from financing activities:
Proceeds from exercise of subsidiary options		11,621
Purchase of treasury stock	(2,364,781)
Dividend paid by subsidiary to non-controlling interest		(1,920,618)
Proceeds from bank loans	1,898,013	4,221,203
Payments on finance lease obligations and loans - net	(698,797)	(611,913)
Net cash provided by (used in) financing activities	(1,165,565)	1,700,293
Effect of exchange rate changes	1,496,516	(817,363)
Net increase in cash and cash equivalents	13,538,324	2,800,466
Cash and cash equivalents at beginning of the period	20,166,830	17,366,364
Cash and cash equivalents at end of period	33,705,154	20,166,830
Cash paid during the period for:
Interest	455,647	355,927
Taxes	601,703	1,027,950
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Assets acquired under finance lease	222,391
Drivemate shares acquired for services rendered	1,300,000
Assets recognized under operating lease		$ 3,474,583

Organization and Description of

Organization and Description of Business	12 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS NetSol Technologies, Inc., was incorporated under the laws of the State of Nevada on March 18, 1997. (NetSol Technologies, Inc. and subsidiaries collectively referred to as the “Company”) The Company designs, develops, markets, and exports proprietary software products to customers in the automobile financing and leasing, banking, and financial services industries worldwide. The Company also provides system integration, consulting, and IT products and services in exchange for fees from customers.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company as follows: Wholly owned Subsidiaries NetSol Technologies Americas, Inc. (“NTA”) NetSol Connect (Private), Ltd. (“Connect”) NetSol Technologies Australia Pty Ltd. (“Australia”) NetSol Technologies Europe Limited (“NTE”) NTPK (Thailand) Co. Limited (“NTPK Thailand”) NetSol Technologies (Beijing) Co. Ltd. (“NetSol Beijing”) Ascent Europe Ltd. (“AEL”) Virtual Lease Services Holdings Limited (“VLSH”) Virtual Lease Services Limited (“VLS”) Virtual Lease Services (Ireland) Limited (“VLSIL”) Majority-owned Subsidiaries NetSol Technologies, Ltd. (“NetSol PK”) NetSol Innovation (Private) Limited (“NetSol Innovation”) NetSol Technologies Thailand Limited (“NetSol Thai”) OTOZ, Inc. (“OTOZ”) OTOZ (Thailand) Limited (“OTOZ Thai”) The Company consolidates any variable interest entities of which it is the primary beneficiary. Equity investments through which the Company exercises significant influence over but does not control the investee and is not the primary beneficiary of the investee’s activities are accounted for using the equity method. Investments through which the Company is not able to exercise significant influence over the investee and which do not have readily determinable fair values are accounted for under the cost method. All material inter-company accounts have been eliminated in the consolidation. Reclassifications For comparative purposes, prior year’s consolidated financial statements have been reclassified to conform to report classifications of the current period. Below is the table of reclassified amounts: For the Years ended June 30, 2020 Originally reported Reclassified REVENUES License fees $ 4,564,560 $ 3,260,891 Subscription and support 19,019,646 20,254,917 Services 32,487,292 32,555,690 Services - related party 300,821 300,821 Total net revenues $ 56,372,319 $ 56,372,319 Basis of Presentation The accompanying consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The areas requiring significant estimates are provision for doubtful accounts, provision for taxation, useful life of depreciable assets, useful life of intangible assets, contingencies, and estimated contract costs. The estimates and underlying assumptions are reviewed on an ongoing basis. Actual results could differ from those estimates. Cash and Cash Equivalents Cash and cash equivalents include all highly liquid debt instruments with original maturities of three months or less which are not securing any corporate obligations. Concentration of Credit Risk Cash includes cash on hand and demand deposits in accounts maintained within the United States as well as in foreign countries. Certain financial instruments, which subject the Company to concentration of credit risk, consist of cash and restricted cash. The Company maintains balances at financial institutions which, from time to time, may exceed Federal Deposit Insurance Corporation insured limits for the banks located in the United States. Balances at financial institutions within certain foreign countries are not covered by insurance, except balances maintained in China are insured for RMB500,000 ($77,399) in each bank and in the UK for GBP 85,000 ($118,056) in each bank. The Company maintains two bank accounts in China and six bank accounts in the UK. As of June 30, 2021 and 2020, the Company had uninsured deposits related to cash deposits in accounts maintained within foreign entities of approximately $31,662,035 and $18,210,378, respectively. The Company has not experienced any losses in such accounts. The Company’s operations are carried out globally. Accordingly, the Company’s business, financial condition and results of operations may be influenced by the political, economic and legal environments of each country and by the general state of the country’s economy. The Company’s operations in each foreign country are subject to specific considerations and significant risks not typically associated with companies in economically developed nations. These include risks associated with, among others, the political, economic and legal environments and foreign currency exchange. The Company’s results may be adversely affected by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods of taxation, among other things. Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable are recorded at the invoiced amount and are non-interest bearing. The Company maintains an allowance for doubtful accounts for estimated losses inherent in its accounts receivable portfolio. In establishing the required allowance, management regularly reviews the composition of accounts receivable and analyzes customer credit worthiness, customer concentrations, current economic trends and changes in customer payment patterns. Reserves are recorded primarily on a specific identification basis. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. Notes Receivable Notes Receivable that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at the principal balance outstanding, net of purchase premiums and discounts, deferred loan fees and costs, and an allowance for loan losses. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income. Revenues in Excess of Billings Revenues in excess of billings represent the total of the project to be billed to the customer for revenues recognized per US GAAP. As the customers are billed under the terms of their contract, the corresponding amount is transferred from this account to “Accounts Receivable.” Investments The Company uses the equity investment without readily determinable fair value method to account for investments in businesses that are not publicly traded and for which the Company does not control or have the ability to exercise significant influence over operating and financial policies. In accordance with this method, these investments are recorded at lower of cost or fair value, as appropriate, and are classified as long-term. Investments held by the Company in businesses that are not publicly traded and for which the Company has the ability to exercise significant influence over operating and financial management are accounted for under the equity method. In accordance with the equity method, these investments are originally recorded at cost and are adjusted for the Company’s proportionate share of earnings, losses and distributions. These investments are classified as long-term. The Company assesses and records impairment losses when events and circumstances indicate the investments might be impaired. Gains and losses are recognized when realized and recorded in other income (expense) in the accompanying Consolidated Statements of Operations. Property and Equipment Property and equipment are stated at cost. Expenditures for maintenance and repairs are charged to earnings as incurred; additions, renewals and betterments are capitalized. When property and equipment are retired or otherwise disposed of, the related cost and accumulated depreciation are removed from the respective accounts, and any gain or loss is included in operations. Depreciation is computed using various methods over the estimated useful lives of the assets, ranging from three to twenty years. Following is the summary of estimated useful lives of the assets: Category Estimated Useful Life Computer equipment and software 3 to 5 Years Office furniture and equipment 5 to 10 Years Building 20 Years Autos 5 Years Assets under capital leases 3 to 10 Years Improvements 5 to 10 Years The Company capitalizes costs of materials, consultants, and payroll and payroll-related costs for employees incurred in developing internal-use computer software. These costs are included with “Computer equipment and software.” Impairment of Long-Lived Assets The Company tests long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable through the estimated undiscounted cash flows expected to result from the use and eventual disposition of the assets. Whenever any such impairment exists, an impairment loss will be recognized for the amount by which the carrying value exceeds the fair value. Intangible Assets Intangible assets consist of product licenses, renewals, enhancements, copyrights, trademarks, trade names, and customer lists. Intangible assets with finite lives are amortized over the estimated useful life and are evaluated for impairment at least on an annual basis and whenever events or changes in circumstances indicate that the carrying value may not be recoverable. The Company assesses recoverability by determining whether the carrying value of such assets will be recovered through the discounted expected future cash flows. If the future discounted cash flows are less than the carrying amount of these assets, the Company recognizes an impairment loss based on the excess of the carrying amount over the fair value of the assets. Software Development Costs Costs incurred to internally develop computer software products or to enhance an existing product are recorded as research and development costs and expensed when incurred until technological feasibility for the respective product is established. Thereafter, all software development costs are capitalized and reported at the lower of unamortized cost or net realizable value. Capitalization ceases when the product or enhancement is available for general release to customers. The Company makes on-going evaluations of the recoverability of its capitalized software projects by comparing the amount capitalized for each product to the estimated present value of expected future net income from the product. If such evaluations indicate that the unamortized software development costs exceed the present value of expected future net income, the Company writes off the amount which the unamortized software development costs exceed such present value. Capitalized and purchased computer software development costs are being amortized ratably based on the projected revenue associated with the related software or on a straight-line basis. Research and Development Costs Research and development expenses are comprised of salaries, benefits and overhead expenses of employees involved in software product enhancement and development, cost of outside contractors engaged to perform quality assurance, software product enhancement and development (if any). Development costs are expensed as incurred. Goodwill Goodwill represents the excess of the aggregate purchase price over the fair value of the net assets acquired in a purchase business combination. Goodwill is reviewed for impairment on an annual basis, or more frequently if events or changes in circumstances indicate that the carrying amount of goodwill may be impaired. In conducting its annual impairment test, the Company first reviews qualitative factors to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying amount. If factors indicate that the fair value of the reporting unit is less than its carrying amount, the Company performs a quantitative assessment and the fair value of the reporting unit is determined by analyzing the expected present value of future cash flows. If the carrying value of the reporting unit continues to exceed its fair value, the fair value of the reporting unit’s goodwill is calculated and an impairment loss equal to the excess is recorded. Fair Value of Financial Instruments The Company applies the provisions of ASC 820-10, “Fair Value Measurements and Disclosures.” The three levels of valuation hierarchy are defined as follows: Level 1: Valuations consist of unadjusted quoted prices in active markets for identical assets and liabilities and has the highest priority. Level 2: Valuations rely on quoted prices in markets that are not active or observable inputs over the full term of the asset or liability. Level 3: Valuations are based on prices or third party or internal valuation models that require inputs that are significant to the fair value measurement and are less observable and thus have the lowest priority. Our financial assets that are measured at fair value on a recurring basis as of June 30, 2021 are as follows: Level 1 Level 2 Level 3 Total Assets Revenues in excess of billings - long term $ - $ - $ 957,603 $ 957,603 Total $ - $ - $ 957,603 $ 957,603 Our financial assets that are measured at fair value on a recurring basis as of June 30, 2020, are as follows: Level 1 Level 2 Level 3 Total Assets Revenues in excess of billings - long term $ - $ - $ 1,300,289 $ 1,300,289 Total $ - $ - $ 1,300,289 $ 1,300,289 The reconciliation for the years ended June 30, 2021 and 2020 is as follows: Revenues in excess of billings - long term Fair value discount Total Balance at June 30, 2019 $ 1,380,631 $ (99,139 ) $ 1,281,492 Amortization during the period - 55,344 55,344 Effect of Translation Adjustment (39,056 ) 2,509 (36,547 ) Balance at June 30, 2020 $ 1,341,575 $ (41,286 ) $ 1,300,289 Additions 1,023,634 (78,124 ) 945,510 Amortization during the period - 53,119 53,119 Transfers to short term (1,341,575 ) - (1,341,575 ) Effect of Translation Adjustment 748 (488 ) 260 Balance at June 30, 2021 $ 1,024,382 $ (66,779 ) $ 957,603 The Company used the discounted cash flow method with interest rates ranging from 4.65% to 6.25% and 4.35% for the years ended June 30, 2021 and 2020, respectively. Management analyzes all financial instruments with features of both liabilities and equity under ASC 480, “Distinguishing Liabilities From Equity” “Derivatives and Hedging.” Unearned Revenue Unearned revenue represents billings in excess of revenue earned on contracts and are recognized on a pro-rata basis over the life of the contract. Unearned revenue was $4,556,626 and $4,095,472 at June 30, 2021 and 2020, respectively. Cost of Revenues Cost of revenues includes salaries and benefits for technical employees, consultant costs, amortization of capitalized computer software development costs, depreciation of computer and equipment, travel costs, and indirect costs such as rent and insurance. Advertising Costs The Company expenses the cost of advertising as incurred. Advertising costs for the years ended June 30, 2021 and 2020 were $224,933 and $285,964, respectively. Share-Based Compensation The Company records stock compensation in accordance with ASC 718, Compensation – Stock Compensation Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is provided for deferred tax assets if it is more likely than not these items will either expire before the Company is able to realize their benefits, or that future deductibility is uncertain. When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the balance sheets along with any associated interest and penalties that would be payable to the taxing authorities upon examination. Applicable interest and penalties associated with unrecognized tax benefits are classified as additional income taxes in the statements of operations. Foreign Currency Translation The Company transacts business in various foreign currencies. The accounts of NetSol UK, NTE, AEL, VLSH and VLS use the British Pound; VLSIL uses the Euro; NetSol PK, Connect, Omni and NetSol Innovation use Pakistan Rupees; NTPK Thailand, NetSol Thai and OTOZ Thai use Thai Baht; NetSol Australia uses the Australian dollar; and NetSol Beijing uses the Chinese Yuan as the functional currencies. NetSol Technologies, Inc., and its subsidiaries, NTA and OTOZ, use the U.S. dollar as the functional currency. Consequently, revenues and expenses of operations outside the United States are translated into U.S. Dollars using average exchange rates while assets and liabilities of operations outside the United States are translated into U.S. Dollars using exchange rates at the balance sheet date. The effects of foreign currency translation adjustments are recorded to other comprehensive income. Statement of Cash Flows The Company’s cash flows from operations are calculated based upon the local currencies. As a result, amounts related to assets and liabilities reported on the statement of cash flows will not necessarily agree with changes in the corresponding balances on the consolidated balance sheet. Segment Reporting The Company defines operating segments as components about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performances. The Company allocates its resources and assesses the performance of its sales activities based on the geographic locations of its subsidiaries. (See Note 21 “Segment Information and Geographic Areas”) Recent Accounting Standards Adopted by the Company: In January 2017, the Financial Accounting Standards Board (“FASB”) issued ASU 2017-04, Simplifying the Test for Goodwill Impairment In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments The Company adopted the standard on July 1, 2020 using the modified retrospective approach. The adoption of ASU 2016-13 resulted in changes to the Company’s accounting policies for trade and other receivables, contract assets and convertible notes receivable. Based on the results of the Company’s evaluation, the adoption of ASU 2016-13 resulted in a one-time cumulative-effect adjustment through retained earnings of $6,784,300 to increase its allowance for credit losses related to the convertible notes receivable, interest receivable, accounts receivable, revenues in excess of billings, and other receivables. The following table presents the impact of adopting ASC Topic 326 as of July 1, 2020: Adjustment to Adopt Asset Classification ASC Topic 326 Allowance for credit losses - accounts receivable $ 109,486 Allowance for credit losses - accounts receivable - related party 1,282,505 Allowance for credit losses - revenue in excess of billings - related party 8,163 Allowance for credit losses - convertible notes receivable - related party 4,250,000 Allowance for credit losses - other current assets 1,134,146 $ 6,784,300 Accounts receivable includes trade accounts receivables from the Company’s customers, net of an allowance for credit risk. Accounts receivable are recorded at the invoiced amount and do not bear interest. In establishing the required allowance, management regularly reviews the composition of accounts receivable and analyzes customer credit worthiness, customer concentrations, current economic trends and changes in customer payment patterns. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. Revenue in excess of billings, relates to services performed which were not billed, net of an allowance for credit risk. As customers are billed under the terms of the contract, the corresponding amount is transferred to accounts receivable. In establishing the required allowance, management regularly reviews the composition of and analyzes customer credit worthiness, customer concentrations, current economic trends, changes in customer payment patterns, the project status and assesses individual unbilled contract assets over a specific aging and amount. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The convertible notes receivable represents loans provided to WRLD3D. The allowance for credit risk for the convertible notes is established based on various quantitative and qualitative factors including customer credit worthiness, current economic trends and changes in payment patterns. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. Accounting Standards Recently Issued but Not Yet Adopted by the Company: In December 2019, the FASB issued ASU No. 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes” (“ASU 2019-12”). ASU 2019-12 removes certain exceptions for recognizing deferred taxes for investments, performing intraperiod allocation and calculating income taxes in interim periods. The ASU also adds guidance to reduce complexity in certain areas, including recognizing deferred taxes for tax goodwill and allocating taxes to members of a consolidated group. This ASU is effective for fiscal years (and interim periods within those fiscal years) beginning after December 15, 2020, which for the Company is the first quarter of fiscal 2022. Early adoption is permitted. The Company does not expect this update to have a material impact on its Consolidated Financial Statements. In August 2020, the FASB issued ASU No. 2020-06, “Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity” (“ASU 2020-06”). ASU 2020-06 reduces the number of accounting models for convertible debt instruments and convertible preferred stock and results in fewer instruments with embedded conversion features being separately recognized from the host contract as compared with current standards. Those instruments that do not have a separately recognized embedded conversion feature will no longer recognize a debt issuance discount related to such a conversion feature and would recognize less interest expense on a periodic basis. Additionally, the ASU amends the calculation of the share dilution impact related to a conversion feature and eliminates the treasury method as an option. For instruments that do not have a component mandatorily settled in cash, the change will likely result in a higher amount of share dilution in the calculation of earnings per share. This ASU is effective for fiscal years (and interim periods within those fiscal years) beginning after December 15, 2021, which for the Company is the first quarter of fiscal 2023, with early adoption permitted beginning in the first quarter of fiscal 2022. The Company is currently assessing the impact and timing of adoption of this ASU. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of Effects of Reference Rate Reform on Financial Reporting All other newly issued accounting pronouncements not yet effective have been deemed either immaterial or not applicable.

Revenue Recognition

Revenue Recognition	12 Months Ended
	Jun. 30, 2021
Revenue Recognition and Deferred Revenue [Abstract]
Revenue Recognition	NOTE 3 – REVENUE RECOGNITION The Company determines revenue recognition through the following steps: ● Identification of the contract, or contracts, with a customer; ● Identification of the performance obligations in the contract; ● Determination of the transaction price; ● Allocation of the transaction price to the performance obligations in the contract; and ● Recognition of revenue when, or as, the Company satisfies a performance obligation. The Company records the amount of revenue and related costs by considering whether the entity is a principal (gross presentation) or an agent (net presentation) by evaluating the nature of its promise to the customer. Revenue is presented net of sales, value-added and other taxes collected from customers and remitted to government authorities. The Company has two primary revenue streams: core revenue and non-core revenue. Core Revenue The Company generates its core revenue from the following sources: (1) software licenses, (2) services, which include implementation and consulting services, and (3) subscription and support, which includes post contract support, of its enterprise software solutions for the lease and finance industry. The Company offers its software using the same underlying technology via two models: a traditional on-premises licensing model and a subscription model. The on-premises model involves the sale or license of software on a perpetual basis to customers who take possession of the software and install and maintain the software on their own hardware. Under the subscription delivery model, the Company provides access to its software on a hosted basis as a service and customers generally do not have the contractual right to take possession of the software. Non-Core Revenue The Company generates its non-core revenue by providing business process outsourcing (“BPO”), other IT services and internet services. Performance Obligations A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account under Topic 606. The transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied by transferring the promised good or service to the customer. The Company identifies and tracks the performance obligations at contract inception so that the Company can monitor and account for the performance obligations over the life of the contract. The Company’s contracts which contain multiple performance obligations generally consist of the initial purchase of subscription or licenses and a professional services engagement. License purchases generally have multiple performance obligations as customers purchase post contract support and services in addition to the licenses. The Company’s single performance obligation arrangements are typically post contract support renewals, subscription renewals and services engagements. For contracts with multiple performance obligations where the contracted price differs from the standalone selling price (“SSP”) for any distinct good or service, the Company may be required to allocate the contract’s transaction price to each performance obligation using its best estimate for the SSP. Software Licenses Transfer of control for software is considered to have occurred upon delivery of the product to the customer. The Company’s typical payment terms tend to vary by region, but its standard payment terms are within 30 days of invoice. Subscription Subscription revenue is recognized ratably over the initial subscription period committed to by the customer commencing when the product is made available to the customer. The initial subscription period is typically 12 to 60 months. The Company generally invoices its customers in advance in quarterly or annual installments and typical payment terms provide that customers make payment within 30 days of invoice. Post Contract Support Revenue from support services and product updates, referred to as subscription and support revenue, is recognized ratably over the term of the maintenance period, which in most instances is one year. Software license updates provide customers with rights to unspecified software product updates and patches released during the term of the support period on a when-and-if available basis. The Company’s customers purchase both product support and license updates when they acquire new software licenses. In addition, a majority of customers renew their support services contracts annually and typical payment terms provide that customers make payment within 30 days of invoice. Professional Services Revenue from professional services is typically comprised of implementation, development, data migration, training or other consulting services. Consulting services are generally sold on a time-and-materials or fixed fee basis and can include services ranging from software installation to data conversion and building non-complex interfaces to allow the software to operate in integrated environments. The Company recognizes revenue for time-and-materials arrangements as the services are performed. In fixed fee arrangements, revenue is recognized as services are performed as measured by costs incurred to date, compared to total estimated costs to complete the services project. Management applies judgment when estimating project status and the costs necessary to complete the services projects. A number of internal and external factors can affect these estimates, including labor rates, utilization and efficiency variances and specification and testing requirement changes. Services are generally invoiced upon milestones in the contract or upon consumption of the hourly resources and payments are typically due 30 days after invoice. BPO and Internet Services Revenue from BPO services is recognized based on the stage of completion which is measured by reference to labor hours incurred to date as a percentage of total estimated labor hours for each contract. Internet services are invoiced either monthly, quarterly or half yearly in advance to the customers and revenue is recognized ratably overtime on a monthly basis. Disaggregated Revenue The Company disaggregates revenue from contracts with customers by category — core and non-core, as it believes it best depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. The Company’s disaggregated revenue by category is as follows: For the Years Ended June 30, 2021 2020 Core: License $ 6,249,924 $ 3,260,891 Subscription and support 22,173,745 20,254,917 Services 20,139,320 25,713,554 Services - related party 48,775 300,821 Total core revenue, net 48,611,764 49,530,183 Non-Core: Services 6,308,851 6,842,136 Total non-core revenue, net 6,308,851 6,842,136 Total net revenue $ 54,920,615 $ 56,372,319 Significant Judgments More judgments and estimates are required under Topic 606 than were required under Topic 605. Due to the complexity of certain contracts, the actual revenue recognition treatment required under Topic 606 for the Company’s arrangements may be dependent on contract-specific terms and may vary in some instances. Judgment is required to determine the SSP for each distinct performance obligation. The Company rarely licenses or sells products on a stand-alone basis, so the Company is required to estimate the range of SSPs for each performance obligation. In instances where SSP is not directly observable because the Company does not sell the license, product or service separately, the Company determines the SSP using information that may include market conditions and other observable inputs. In making these judgments, the Company analyzes various factors, including its pricing methodology and consistency, size of the arrangement, length of term, customer demographics and overall market and economic conditions. Based on these results, the estimated SSP is set for each distinct product or service delivered to customers. The most significant inputs involved in the Company’s revenue recognition policies are: The (1) stand-alone selling prices of the Company’s software license, and the (2) the method of recognizing revenue for installation/customization, and other services. The stand-alone selling price of the licenses was measured primarily through an analysis of pricing that management evaluated when quoting prices to customers. Although the Company has no history of selling its software separately from post contract support and other services, the Company does have historical experience with amending contracts with customers to provide additional modules of its software or providing those modules at an optional price. This information guides the Company in assessing the stand-alone selling price of the Company’s software, since the Company can observe instances where a customer had a particular component of the Company’s software that was essentially priced separate from other goods and services that the Company delivered to that customer. The Company recognizes revenue from implementation and customization services using the percentage of estimated “man-days” that the work requires. The Company believes the level of effort to complete the services is best measured by the amount of time (measured as an employee working for one day on implementation/customization work) that is required to complete the implementation or customization work. The Company reviews its estimate of man-days required to complete implementation and customization services each reporting period. Revenue is recognized over time for the Company’s subscription, post contract support and fixed fee professional services that are separate performance obligations. For the Company’s professional services, revenue is recognized over time, generally using costs incurred or hours expended to measure progress. Judgment is required in estimating project status and the costs necessary to complete projects. A number of internal and external factors can affect these estimates, including labor rates, utilization, specification variances and testing requirement changes. If a group of agreements are entered at or near the same time and so closely related that they are, in effect, part of a single arrangement, such agreements are deemed to be combined as one arrangement for revenue recognition purposes. The Company exercises significant judgment to evaluate the relevant facts and circumstances in determining whether agreements should be accounted for separately or as a single arrangement. The Company’s judgments about whether a group of contracts comprise a single arrangement can affect the allocation of consideration to the distinct performance obligations, which could have an effect on results of operations for the periods involved. If a contract includes variable consideration, the Company exercises judgment in estimating the amount of consideration to which the entity will be entitled in exchange for transferring the promised goods or services to a customer. When estimating variable consideration, the Company will consider all relevant facts and circumstances. Variable consideration will be estimated and included in the contract price only when it is probable that a significant reversal in the amount of revenue recognized will not occur. Contract Balances The timing of revenue recognition may differ from the timing of invoicing to customers and these timing differences result in receivables, contract assets (revenues in excess of billings), or contract liabilities (deferred revenue) on the Company’s Consolidated Balance Sheets. The Company records revenues in excess of billings when the Company has transferred goods or services but does not yet have the right to consideration. The Company records deferred revenue when the Company has received or has the right to receive consideration but has not yet transferred goods or services to the customer. The revenues in excess of billings are transferred to receivables when the rights to consideration become unconditional, usually upon completion of a milestone. The Company’s revenues in excess of billings and unearned revenue are as follows: As of As of June 30, 2021 June 30, 2020 Revenues in excess of billings $ 15,637,734 $ 18,506,733 Unearned revenue $ 4,556,626 $ 4,095,472 During the year ended June 30, 2021, the Company recognized revenue of $4,087,373, which was included in the deferred revenue balance at the beginning of the period. All other activity in deferred revenue is due to the timing of invoicing in relation to the timing of revenue recognition. Revenue allocated to remaining performance obligations represents the transaction price allocated to the performance obligations that are unsatisfied, or partially unsatisfied, which includes unearned revenue and amounts that will be invoiced and recognized as revenue in future periods. Contracted but unsatisfied performance obligations were approximately $48,314,683 as of June 30, 2021, of which the Company estimates to recognize approximately $15,603,135 in revenue over the next 12 months and the remainder over an estimated 6 years thereafter. Actual revenue recognition depends in part on the timing of software modules installed at various customer sites. Accordingly, some factors that affect the Company’s revenue, such as the availability and demand for modules within customer geographic locations, is not entirely within the Company’s control. In instances where the timing of revenue recognition differs from the timing of invoicing, the Company has determined that its contracts generally do not include a significant financing component. The primary purpose of invoicing terms is to provide customers with simplified and predictable ways of purchasing the Company’s products and services, and not to facilitate financing arrangements. Unearned Revenue The Company typically invoices its customers for subscription and support fees in advance on a quarterly or annual basis, with payment due at the start of the subscription or support term. Unpaid invoice amounts for non-cancelable license and services starting in future periods are included in accounts receivable and unearned revenue. Practical Expedients and Exemptions There are several practical expedients and exemptions allowed under Topic 606 that impact timing of revenue recognition and the Company’s disclosures. The Company has applied the following practical expedients: ● The Company does not evaluate a contract for a significant financing component if payment is expected within one year or less from the transfer of the promised items to the customer. ● The Company generally expenses sales commissions and sales agent fees when incurred when the amortization period would have been one year or less or the commissions are based on cashed received. These costs are recorded within sales and marketing expense in the Consolidated Statement of Operations. ● The Company does not disclose the value of unsatisfied performance obligations for contracts for which the Company recognizes revenue at the amount to which it has the right to invoice for services performed (applies to time-and-material engagements). Costs to Obtain a Contract The Company does not have a material amount of costs to obtain a contract capitalized at any balance sheet date. In general, the Company incurs few direct incremental costs of obtaining new customer contracts. The Company rarely incurs incremental costs to review or otherwise enter into contractual arrangements with customers. In addition, the Company’s sales personnel receive fees that are referred to as commissions, but that are based on more than simply signing up new customers. The Company’s sales personnel are required to perform additional duties beyond new customer contract inception dates, including fulfillment duties and collections efforts.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Earnings Per Share	NOTE 4 – EARNINGS PER SHARE Basic earnings per share are computed based on the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is computed based on the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include outstanding stock options and stock awards. The components of basic and diluted earnings per share were as follows: For the year ended June 30, 2021 Net Income Shares Per Share Basic income per share: Net income available to common shareholders $ 1,778,257 11,499,983 $ 0.15 Effect of dilutive securities Share grants - - - Diluted income per share $ 1,778,257 11,499,983 $ 0.15 For the year ended June 30, 2020 Net Income Shares Per Share Basic income per share: Net income available to common shareholders $ 937,081 11,734,648 $ 0.08 Effect of dilutive securities Share grants - 49,766 - Diluted income per share $ 937,081 11,784,414 $ 0.08

Major Customers

Major Customers	12 Months Ended
	Jun. 30, 2021
Risks and Uncertainties [Abstract]
Major Customers	NOTE 5 – MAJOR CUSTOMERS During the year ended June 30, 2021, revenues from Daimler Financial Services (“DFS”) and BMW Financial (“BMW”) were $11,522,694 and $7,137,653, respectively representing 21.0% and 13.0%, respectively of revenues. During the year ended June 30, 2020, revenues from Daimler Financial Services (“DFS”) and BMW Financial (“BMW”) were $14,869,030 and $8,904,809, respectively representing 26.4% and 15.8%, respectively of revenues. The revenue from these customers are shown in the Asia – Pacific segment. Accounts receivable from DFS and BMW at June 30, 2021, were $462,861 and $35,063, respectively. Accounts receivable from DFS and BMW at June 30, 2020, were $4,821,468 and $474,271, respectively. Revenues in excess of billings at June 30, 2021 were $2,041,750 and $4,453,299, respectively. Revenues in excess of billings at June 30, 2020 were $5,709,226 and $6,977,375, respectively. Included in this amount was $1,300,289 shown as long term at June 30, 2020.

Convertible Note Receivable - R

Convertible Note Receivable - Related Party	12 Months Ended
	Jun. 30, 2021
Receivables [Abstract]
Convertible Note Receivable - Related Party	NOTE 6 – CONVERTIBLE NOTE RECEIVABLE – RELATED PARTY The Company has entered into multiple convertible note receivable agreements with WRLD3D. The convertible notes bear interest ranging from 5% to 10% with various maturity dates. The convertible notes have conversion features which allow the Company to convert the notes into shares of WRLD3D stock upon the occurrence of certain events. The Company has a security interest in all of WRLD3D’s personal property, inventory, equipment, general intangibles, financial assets, investment property, securities, deposit accounts and the proceeds thereof. The following table summarizes the convertible notes receivable from WRLD3D. Convertible Agreement Interest Maturity Note Accrued Date Rate Date Amount Interest May 25, 2017 5 % March 2, 2018 $ 750,000 $ 110,202 February 9, 2018 10 % March 31, 2019 2,500,000 500,773 April 1, 2019 10 % March 31, 2020 600,000 57,648 August 19, 2019 10 % March 31, 2020 400,000 32,439 4,250,000 701,062 Less allowance for doubtful account (4,250,000 ) (701,062 ) Net Balance $ - $ - The Company has accrued interest of $701,062 at June 30, 2021 and 2020, which is included in “Other current assets”. The Company has not been accruing interest since July 1, 2020.

Other Current Assets

Other Current Assets	12 Months Ended
	Jun. 30, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Current Assets	NOTE 7 - OTHER CURRENT ASSETS Other current assets consisted of the following: As of As of June 30, 2021 June 30, 2020 Prepaid Expenses $ 1,987,556 $ 1,035,415 Advance Income Tax 344,699 355,482 Employee Advances 28,816 44,415 Security Deposits 281,464 270,403 Other Receivables 143,258 101,451 Other Assets 223,600 57,381 Due From Related Party 1,243,633 1,243,633 4,253,026 3,108,180 Less allowance for doubtful account (1,243,633 ) - Net Balance $ 3,009,393 $ 3,108,180

Revenues in Excess of Billings

Revenues in Excess of Billings - Long Term	12 Months Ended
	Jun. 30, 2021
Contractors [Abstract]
Revenues in Excess of Billings - Long Term	NOTE 8 – REVENUES IN EXCESS OF BILLINGS – LONG TERM Revenues in excess of billings, net consisted of the following: As of As of June 30, 2021 June 30, 2020 Revenues in excess of billings - long term $ 1,024,382 $ 1,341,575 Present value discount (66,779 ) (41,286 ) Net Balance $ 957,603 $ 1,300,289 Pursuant to revenue recognition for contract accounting, the Company had recorded revenues in excess of billings long-term for amounts billable after one year. During the years ended June 30, 2021 and 2020, the Company accreted $53,119 and $55,344, respectively, which was recorded in interest income for that period. The Company used the discounted cash flow method with interest rates ranging from 4.65% to 6.25% for the year ended June 30, 2021 and 4.35% during the year ended June 30, 2020.

Property and Equipment

Property and Equipment	12 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Property and Equipment	NOTE 9 - PROPERTY AND EQUIPMENT Property and equipment consisted of the following: As of As of June 30, 2021 June 30, 2020 Office Furniture and Equipment $ 3,440,501 $ 3,143,833 Computer Equipment 18,681,991 19,256,543 Assets Under Capital Leases 1,136,128 1,443,423 Building 6,205,210 5,848,813 Land 1,608,024 1,512,905 Capital Work In Progress - 27,648 Autos 1,770,147 1,348,405 Improvements 35,592 36,929 Subtotal 32,877,593 32,618,499 Accumulated Depreciation (20,785,781 ) (21,288,868 ) Property and Equipment, Net $ 12,091,812 $ 11,329,631 For the years ended June 30, 2021 and 2020, depreciation expense totaled $2,148,578 and $1,903,640, respectively. Of these amounts, $1,182,953 and $1,069,057, respectively, are reflected in cost of revenues. Following is a summary of fixed assets held under capital leases as of June 30, 2021 and 2020: As of As of June 30, 2021 June 30, 2020 Computers and Other Equipment $ 169,487 $ 328,621 Furniture and Fixtures 57,509 51,119 Vehicles 909,132 1,063,683 Total 1,136,128 1,443,423 Less: Accumulated Depreciation - Net (627,119 ) (667,096 ) $ 509,009 $ 776,327 Finance lease term and discount rate were as follows: As of As of June 30, 2021 June 30, 2020 Weighted average remaining lease term - Finance leases 0.55 Years 1.38 Years Weighted average discount rate - Finance leases 5.6 % 11.7 %

Leases

Leases	12 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Leases	NOTE 10 - LEASES The Company leases certain office space, office equipment and autos with remaining lease terms of one year to 10 years under leases classified as financing and operating. For certain leases, the Company has options to extend the lease term for additional periods ranging from one year to 10 years. The Company treats a contract as a lease when the contract conveys the right to use a physically distinct asset for a period of time in exchange for consideration, or the Company directs the use of the asset and obtains substantially all the economic benefits of the asset. These leases are recorded as right-of-use (“ROU”) assets and lease obligation liabilities for leases with terms greater than 12 months. ROU assets represent the Company’s right to use an underlying asset for the entirety of the lease term. Lease liabilities represent the Company’s obligation to make payments over the life of the lease. A ROU asset and a lease liability are recognized at commencement of the lease based on the present value of the lease payments over the life of the lease. Initial direct costs are included as part of the ROU asset upon commencement of the lease. Since the interest rate implicit in a lease is generally not readily determinable for the operating leases, the Company uses an incremental borrowing rate to determine the present value of the lease payments. The incremental borrowing rate represents the rate of interest the Company would have to pay to borrow on a collateralized basis over a similar lease term to obtain an asset of similar value. The Company used the incremental borrowing rate on July 1, 2019 for all leases that commenced prior to that date. For finance leases, the Company used the incremental borrowing rate implicit in the lease. The Company reviews the impairment of ROU assets consistent with the approach applied for the Company’s other long-lived assets. The Company reviews the recoverability of long-lived assets when events or changes in circumstances occur that indicate that the carrying value of the asset may not be recoverable. The assessment of possible impairment is based on the Company’s ability to recover the carrying value of the asset from the expected undiscounted future pre-tax cash flows of the related operations. The Company elected the practical expedient to exclude short-term leases (leases with original terms of 12 months or less) from ROU asset and lease liability accounts. Lease expense is recognized on a straight-line basis over the lease term, while variable lease payments are expensed as incurred. Variable payments change due to facts or circumstances occurring after the commencement date, other than the passage of time, and do not result in a re-measurement of lease liabilities. The Company’s variable lease payments include payments for finance leases that are adjusted based on a change in the Karachi Inter Bank Offer Rate. The Company’s lease agreements do not contain any significant residual value guarantees or restrictive covenants. Supplemental balance sheet information related to leases was as follows: As of As of June 30, 2021 June 30, 2020 Assets Operating lease assets, net $ 1,345,869 $ 2,360,129 Liabilities Current Operating $ 857,729 $ 1,111,912 Non-current Operating 564,257 1,339,965 Total Lease Liabilities $ 1,421,986 $ 2,451,877 The components of lease cost were as follows: For the Years Ended June 30, 2021 2020 Amortization of finance lease assets $ 186,721 $ 253,071 Interest on finance lease obligation 32,675 81,907 Operating lease cost 1,271,947 1,258,102 Short term lease cost 91,705 282,806 Sub lease income (35,740 ) (33,426 ) Total lease cost $ 1,547,308 $ 1,842,460 Lease term and discount rate were as follows: As of As of June 30, 2021 June 30, 2020 Weighted average remaining lease term - Operating leases 1.78 Years 2.45 Years Weighted average discount rate - Operating leases 5.7 % 5.6 % Supplemental disclosures of cash flow information related to leases were as follows: For the Years Ended June 30 2021 2020 Cash flows related to lease liabilities Operating cash flows related to operating leases $ 1,182,028 $ 1,263,089 Operating cash flows from finance leases $ 25,338 $ 72,999 Financing cash flows from finance leases $ 334,939 $ 324,723 Maturities of operating lease liabilities were as follows as of June 30, 2021: Amount Within year 1 $ 911,760 Within year 2 496,700 Within year 3 82,282 Within year 4 835 Within year 5 835 Thereafter 2,505 Total Lease Payments 1,494,917 Less: Imputed interest (72,931 ) Present Value of lease liabilities 1,421,986 Less: Current portion (857,729 ) Non-Current portion $ 564,257 The Company is a lessor for certain office space leased by the Company and sub-leased to others under non-cancelable leases. These lease agreements provide for a fixed base rent and terminate by July 2021. All leases are considered operating leases. There are no rights to purchase the premises and no residual value guarantees. For the years ended June 30, 2021 and 2020, the Company received $35,740 and $33,426, respectively, of lease income.

Long-Term Investment

Long-Term Investment	12 Months Ended
	Jun. 30, 2021
Investments, All Other Investments [Abstract]
Long-Term Investment	NOTE 11 – LONG-TERM INVESTMENT Drivemate The Company and Drivemate Co., Ltd. (“Drivemate”) entered into a subscription agreement on April 25, 2019, (“Drivemate Agreement”) whereby the Company purchased an equity interest of 30% in Drivemate. Per the Drivemate Agreement, the Company purchased 5,469 preferred shares for $1,800,000 consisting of $500,000 cash to be paid over a two-year period and $1,300,000 to be provided in services. The Company has paid the $500,000 in cash and has provided services of $1,300,000. Pursuant to the agreement, the number of shares to be issued is adjusted as necessary to result in an equity ownership equal to 30% of the issued and outstanding shares at the final payment date. As of June 30, 2021, the Company has been issued 8,178 shares equal to 30% of Drivemate. Per the Drivemate Agreement, the Company appointed two directors to the Drivemate board. The Company determined that it met the significant influence criteria since two of the four directors are appointed by the Company and the Company owns 30% of Drivemate; therefore, the Company accounts for the investment using the equity method of accounting. During the years ended June 30, 2021 and 2020, the Company performed services of $18,006 and $1,054,372, respectively. Under the equity method of accounting, the Company recorded its share of net loss of $20,001 and $16,714 for the years ended June 30, 2021 and 2020, respectively. WRLD3D-Related Party On March 2, 2017, the Company purchased a 4.9% interest in WRLD3D, a non-public company, for $1,111,111. The Company paid $555,556 at the initial closing and $555,555 on September 1, 2017. NetSol PK, the subsidiary of the Company, purchased a 12.2% investment in WRLD3D, for $2,777,778 which was earned by providing IT and enterprise software solutions. As of June 30, 2021, NTI and NTPK own 1,636,876 and 4,092,189, respectively, of Series BB Preferred Stock. In connection with the investment, the Company and NetSol PK received a warrant to purchase preferred stock of WRLD3D, which warrants expired on March 2, 2020. The Company determined that it met the significant influence criteria since the CEO of WRLD3D is the son of the CEO, Najeeb Ghauri, and also an employee of the Company; therefore, the Company accounts for the investment using equity method of accounting. During the years ended June 30, 2021 and 2020, NetSol PK provided services valued at $48,775 and $300,821, respectively, which is recorded as services-related party. Accounts receivable and revenue in excess of billing were $1,373,099 and $8,163 at June 30, 2020, respectively. Upon adoption of ASC 326, an allowance was established for the full amounts of these accounts. Under the equity method of accounting, the Company recorded its share of net loss of $233,818 and $589,150 for the years ended June 30, 2021 and 2020, respectively. The following table reflects the above investments at June 30, 2021. Drivemate WRLD3D Total Gross investment $ 1,800,000 $ 3,888,889 $ 5,688,889 Cumulative net loss on investment (38,853 ) (1,924,134 ) (1,962,987 ) Cumulative other comprehensive income (loss) - (570,050 ) (570,050 ) Net investment $ 1,761,147 $ 1,394,705 $ 3,155,852

Intangible Assets

Intangible Assets	12 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	NOTE 12 - INTANGIBLE ASSETS Intangible assets consisted of the following: As of As of June 30, 2021 June 30, 2020 Product Licenses - Cost $ 47,244,997 $ 47,244,997 Effect of Translation Adjustment (14,440,001 ) (16,045,322 ) Accumulated Amortization (28,900,340 ) (25,808,598 ) Net Balance $ 3,904,656 $ 5,391,077 (A) Product Licenses Product licenses include internally-developed original license issues, renewals, enhancements, copyrights, trademarks, and trade names. Product licenses are amortized on a straight-line basis over their respective lives, and the unamortized amount of $3,904,656 will be amortized over the next 2.25 years. Amortization expense for the years ended June 30, 2021 and 2020 was $1,807,736 and $1,828,314, respectively. (B) Future Amortization Estimated amortization expense of intangible assets over the next five years is as follows: Years ended: June 30, 2022 $ 1,839,736 June 30, 2023 1,839,736 June 30, 2024 225,184 $ 3,904,656

Goodwill

Goodwill	12 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	NOTE 13 – GOODWILL Goodwill represents the excess of the aggregate purchase price over the fair value of the net assets acquired in prior period business combinations. Goodwill was comprised of the following amounts: As of June 30, As of June 30, 2021 2020 NetSol PK (Asia - Pacific) $ 1,166,610 $ 1,166,610 NTE (Europe) 3,471,814 3,471,814 VLS (Europe) 214,044 214,044 NTA (North America) 4,664,100 4,664,100 Total $ 9,516,568 $ 9,516,568

Accounts Payable and Accrued Ex

Accounts Payable and Accrued Expenses	12 Months Ended
	Jun. 30, 2021
Payables and Accruals [Abstract]
Accounts Payable and Accrued Expenses	NOTE 14 - ACCOUNTS PAYABLE AND ACCRUED EXPENSES Accounts payable and accrued expenses consisted of the following: As of As of June 30, 2021 June 30, 2020 Accounts Payable $ 1,067,937 $ 1,351,158 Accrued Liabilities 4,512,499 3,349,624 Accrued Payroll & Taxes 228,028 537,888 Taxes Payable 608,121 303,996 Other Payable 279,450 138,171 Total $ 6,696,035 $ 5,680,837

Debts

Debts	12 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Debts	NOTE 15 – DEBTS Notes payable and capital leases consisted of the following: As of June 30, 2021 Current Long-Term Name Total Maturities Maturities D&O Insurance (1) $ 73,143 $ 73,143 $ - Paycheck Protection Program Loans (2) - - - Bank Overdraft Facility (3) - - - Term Finance Facility (4) 1,648,818 1,090,259 558,559 Loan Payable Bank - Export Refinance (5) 3,162,555 3,162,555 - Loan Payable Bank - Running Finance (6) - - - Loan Payable Bank - Export Refinance II (7) 2,403,542 2,403,542 - Loan Payable Bank - Running Finance II (8) - - - Loan Payable Bank - Export Refinance III (9) 4,427,578 4,427,578 - Sale and Leaseback Financing (10) 85,313 28,183 57,130 Term Finance Facility (11) 55,182 19,644 35,538 Insurance Financing (12) 41,774 41,774 - 11,897,905 11,246,678 651,227 Subsidiary Finance Leases (13) 168,107 119,493 48,614 $ 12,066,012 $ 11,366,171 $ 699,841 As of June 30, 2020 Current Long-Term Name Total Maturities Maturities D&O Insurance (1) $ 81,728 $ 81,728 $ - Paycheck Protection Program Loans (2) 469,721 182,669 287,052 Bank Overdraft Facility (3) - - - Term Finance Facility (4) 1,380,878 354,337 1,026,541 Loan Payable Bank - Export Refinance (5) 2,975,482 2,975,482 - Loan Payable Bank - Running Finance (6) - - - Loan Payable Bank - Export Refinance II (7) 2,261,365 2,261,365 - Loan Payable Bank - Running Finance II (8) - - - Loan Payable Bank - Export Refinance III (9) 2,975,483 2,975,483 - Term Finance Facility (11) 65,473 16,423 49,050 Insurance Financing (12) - - - 10,210,130 8,847,487 1,362,643 Subsidiary Finance Leases (13) 469,406 292,074 177,332 $ 10,679,536 $ 9,139,561 $ 1,539,975 (1) The Company finances Directors’ and Officers’ (“D&O”) liability insurance and Errors and Omissions (“E&O”) liability insurance, for which the D&O and E&O balances are renewed on an annual basis and, as such, are recorded in current maturities. The interest rate on these financings range from 5.0% to 7.0% as of June 30, 2021 and 2020, respectively. (2) The Company and its subsidiary, NTA, received Paycheck Protection Program loans of $469,721 introduced by the U.S. Government during the COVID-19 Pandemic. The loans carry an interest rate of 1% and have a maturity date of two years from the date of the disbursement of the loan. This loan is forgivable if the Company meets the criteria set by the U.S. Government. During the year ended June 30, 2021, the Company applied for the loan forgiveness, which was approved by the U.S. Government. (3) The Company’s subsidiary, NTE, has an overdraft facility with HSBC Bank plc whereby the bank would cover any overdrafts up to £300,000, or approximately $416,667. The annual interest rate was 5.1% as of June 30, 2021 and 2020. Total outstanding balance as of June 30, 2021 and 2020 was £nil. This overdraft facility requires that the aggregate amount of invoiced trade debtors (net of provisions for bad and doubtful debts and excluding intra-group debtors) of NTE, not exceeding 90 days old, will not be less than an amount equal to 200% of the facility. As of June 30, 2021, NTE was in compliance with this covenant. (4) The Company’s subsidiary, NetSol PK, has a term finance facility from Askari Bank Limited, approved by the Government of Pakistan to protect the employment situation during the COVID-19 Pandemic. This is a term loan payable in three years. The availed facility amount is Rs. 260,678,180 or $1,648,818, at June 30, 2021, of which $1,090,259 is shown as current and the remaining $558,559 is shown as long term. The availed facility amount is Rs. 232,042,664 or $1,380,878, at June 30, 2020, of which $354,337 is shown as current and the remaining $1,026,541 is shown as long term. The interest rate for the loan was 3% at June 30, 2021 and 2020. (5) The Company’s subsidiary, NetSol PK, has an export refinance facility with Askari Bank Limited, secured by NetSol PK’s assets. This is a revolving loan that matures every six months. Total facility amount is Rs. 500,000,000 or $3,162,555 and Rs. 500,000,000 or $2,975,482 at June 30, 2021 and 2020, respectively. The interest rate for the loan was 3% at June 30, 2021 and 2020. (6) The Company’s subsidiary, NetSol PK, has a running finance facility with Askari Bank Limited, secured by NetSol PK’s assets. Total facility amount is Rs. 75,000,000 or $474,383 and Rs. 75,000,000 or $446,322, at June 30, 2021 and 2020, respectively. The balance outstanding at June 30, 2021 and 2020 was Rs. Nil. The interest rate for the loan was 9.5% and 7.2% at June 30, 2021 and 2020, respectively. These facilities require NetSol PK to maintain a long-term debt equity ratio of 60:40 and the current ratio of 1:1. As of June 30, 2021, NetSol PK was in compliance with this covenant. (7) The Company’s subsidiary, NetSol PK, has an export refinance facility with Samba Bank Limited, secured by NetSol PK’s assets. This is a revolving loan that matures every six months. Total facility amount is Rs. 380,000,000 or $2,403,542 and Rs. 380,000,000 or $2,261,365, at June 30, 2021 and 2020, respectively. The interest rate for the loan was 3% at June 30, 2021 and 2020. (8) The Company’s subsidiary, NetSol PK, has a running finance facility with Samba Bank Limited, secured by NetSol PK’s assets. Total facility amount is Rs. 120,000,000 or $759,013 and Rs. 120,000,000 or $714,116, at June 30, 2021 and 2020, respectively. The interest rate for the loan was 9.0% and 7.7% at June 30, 2021 and 2020, respectively. Total outstanding balance at June 30, 2021 and 2020 was $nil. During the loan tenure, the facilities from Samba Bank Limited require NetSol PK to maintain at a minimum a current ratio of 1:1, an interest coverage ratio of 4 times, a leverage ratio of 2 times, and a debt service coverage ratio of 4 times. As of June 30, 2021, NetSol PK was in compliance with these covenants. (9) The Company’s subsidiary, NetSol PK, has an export refinance facility with Habib Metro Bank Limited, secured by NetSol PK’s assets. This is a revolving loan that matures every nine months. Total facility amount is Rs. 900,000,000 or $5,692,600 and Rs. 900,000,000 or $5,355,868, at June 30, 2021 and 2020, respectively. NetSol PK used Rs. 700,000,000 or $4,427,578 and Rs. 500,000,000 or $2,975,482, at June 30, 2021 and 2020, respectively. The interest rate for the loan was 3% at June 30, 2021 and 2020. (10) The Company’s subsidiary, NetSol PK, availed sale and leaseback financing from First Habib Modaraba secured by the transfer of the vehicles’ title. As of June 30, 2021, NetSol PK used Rs. 13,487,949 or $85,313 of which $57,130 was shown as long term and $28,183 as current. The interest rate for the loan was 9.0% at June 30, 2021. (11) In March 2020, the Company’s subsidiary, VLS, entered into a loan agreement with Investec Bank PLC. The loan amount was £69,549, or $96,596, for a period of 5 years with monthly payments of £1,349, or $1,874. As of June 30, 2021, the subsidiary has used this facility up to $55,182, of which $35,538 was shown as long-term and $19,644 as current. The interest rate was 6.14% at June 30, 2021. (12) The Company’s subsidiary, VLS, finances Directors’ and Officers’ (“D&O”) liability insurance, and the $41,774 is recorded in current maturities. The interest rate on this financing was 4.5% as of June 30, 2021. (13) The Company leases various fixed assets under capital lease arrangements expiring in various years through 2024. The assets and liabilities under capital leases are recorded at the lower of the present value of the minimum lease payments or the fair value of the asset. The assets are secured by the assets themselves. Depreciation of assets under capital leases is included in depreciation expense for the years ended June 30, 2021 and 2020. Following is the aggregate minimum future lease payments under capital leases as of June 30, 2021: Amount Minimum Lease Payments Within year 1 $ 126,586 Within year 2 31,386 Within year 3 20,170 Total Minimum Lease Payments 178,142 Interest Expense relating to future periods (10,035 ) Present Value of minimum lease payments 168,107 Less: Current portion (119,493 ) Non-Current portion $ 48,614 Following is the aggregate future long term debt payments as of June 30, 2021: Amount Loan Payments Within year 1 $ 1,138,086 Within year 2 610,253 Within year 3 40,974 Total Loan Payments 1,789,313 Less: Current portion (1,138,086 ) Non-Current portion $ 651,227

Income Taxes

Income Taxes	12 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 16 – INCOME TAXES The Company is incorporated in the State of Nevada and registered to do business in the State of California. The following is a breakdown of income before the provision for income taxes: Consolidated pre-tax income (loss) consists of the following: Years Ended June 30, 2021 2020 US operations $ 1,944,974 $ 417,885 Foreign operations 1,343,275 1,915,206 $ 3,288,249 $ 2,333,091 The components of the provision for income taxes are as follows: Years Ended June 30, 2021 2020 Current: Federal $ - $ - State and Local 113,152 2,275 Foreign 912,663 1,138,793 Deferred: Federal - - State and Local 802 - Foreign - - Provision for income taxes $ 1,026,617 $ 1,141,068 A reconciliation of taxes computed at the statutory federal income tax rate to income tax expense (benefit) is as follows: Years Ended June 30, 2021 2020 Income tax (benefit) provision at statutory rate $ 690,532 21.0 % $ 489,949 21.0 % State income (benefit) taxes, net of federal tax benefit 229,520 7.0 % 162,850 7.0 % Foreign earnings taxed at different rates 72,358 2.2 % 602,918 25.8 % Change in valuation allowance for deferred tax assets 129,758 4 % (120,739 ) -5.2 % Other (95,551 ) -2.9 % 6,090 0.3 % Provision for income taxes $ 1,026,617 31.2 % $ 1,141,068 48.9 % Deferred income tax assets and liabilities as of June 30, 2021 and 2020 consist of tax effects of temporary differences related to the following: Components of deferred tax asset Years Ended June 30, 2021 2020 Net operating loss carry forwards $ 7,483,618 $ 7,318,282 Other 79,675 115,253 Net deferred tax assets 7,563,293 7,433,535 Valuation allowance for deferred tax assets (7,563,293 ) (7,433,535 ) Net deferred tax assets $ - $ - The Company has established a full valuation allowance as management believes it is more likely than not that these assets will not be realized in the future. The valuation allowance increased by $129,758 for the year ended June 30, 2021. At June 30, 2021, federal and state net operating loss carry forwards in the United States of America were $28,678,045 and $7,935,883, respectively. Federal net operating loss carry forwards begin to expire in 2028, while state net operating loss carry forwards are expiring each year. Due to both historical and recent changes in the capitalization structure of the Company, the utilization of net operating losses may be limited pursuant to section 382 of the Internal Revenue Code. California has suspended the net operating loss carryover deduction for taxable years 2020, 2021 and 2022. Net operating losses related to foreign entities were $3,506,583 at June 30, 2021. As of June 30, 2021, the Company does not have any unrecognized tax benefits related to various federal and state income tax matters. The Company will recognize accrued interest and penalties related to unrecognized tax benefits in income tax expense. The Company is subject to U.S. federal income tax, as well as various state and foreign jurisdictions. The Company is currently open to audit under the statute of limitations by the federal and state jurisdictions for the years ending June 30, 2018 through 2020. The Company does not anticipate any material amount of unrecognized tax benefits within the next 12 months. The cumulative amount of undistributed earnings of foreign subsidiaries that the Company intends to permanently invest and upon which no deferred US income taxes have been provided is $33,349,743 as of June 30, 2021. The additional US income tax on unremitted foreign earnings, if repatriated, would be offset in part by foreign tax credits. The extent of this offset would depend on many factors, including the method of distribution, and specific earnings distributed. The Company determined that it is not practicable to determine unrecognized deferred tax liability associated with the unremitted earnings attributable to the foreign subsidiaries. Income from the export of computer software and its related services developed in Pakistan is exempt from tax through June 30, 2025. The aggregate effect of the tax holiday for June 30, 2021 and 2020 is $202,918 and $47,477, respectively. The effect on basic and diluted earnings per share is $0.018 and $0.004 for June 30, 2021 and 2020, respectively.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Stockholders' Equity	NOTE 17 - STOCKHOLDERS’ EQUITY During the years ended June 30, 2021 and 2020, the Company issued 20,353 and 55,044 shares of common stock, respectively, for services rendered by officers of the Company. These shares were valued at the fair market value of $118,316 and $312,090, respectively, and recorded as compensation expense in the accompanying consolidated financial statements. During the years ended June 30, 2021 and 2020, the Company issued 1,983 and 73,667 shares of common stock respectively, for services rendered by the independent members of the Board of Directors as part of their board compensation. These shares were valued at the fair market value of $11,997 and $261,622, respectively, and recorded as compensation expense in the accompanying consolidated financial statements. During the years ended June 30, 2021 and 2020, the Company issued 37,100 and 81,696 shares of common stock, respectively, to employees pursuant to the terms of their employment agreements. These shares were valued at the fair market value of $211,353 and $416,738, respectively, and recorded as compensation expense in the accompanying consolidated financial statements. During the year ended June 30, 2021, the Company purchased 669,018 shares of its common stock from the open market for cash proceeds of $2,364,781 at an average price of $3.53 per share pursuant to the Company’s stock buy-back plan.

Incentive and Non-statutory Sto

Incentive and Non-statutory Stock Option Plan	12 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Incentive and Non-statutory Stock Option Plan	NOTE 18 - INCENTIVE AND NON-STATUTORY STOCK OPTION PLAN The Company maintains several Incentive and Non-Statutory Stock Option Plans (“Plans”) for its employees and consultants. Options granted under these Plans to an employee of the Company become exercisable over a period of no longer than ten (10) years and no less than twenty percent (20%) of the shares are exercisable annually. Options are not exercisable, in whole or in part, prior to one (1) year from the date of grant unless the Board of Directors specifically determines otherwise, as provided. Two types of options may be granted under these Plans: (1) Incentive Stock Options (also known as Qualified Stock Options) which may only be issued to employees of the Company and whereby the exercise price of the option is not less than the fair market value of the common stock on the date it was reserved for issuance under the Plan; and (2) Non-statutory Stock Options which may be issued to either employees or consultants of the Company and whereby the exercise price of the option may be less than the fair market value of the common stock on the date it was reserved for issuance under the plan. Grants of options may be made to employees and consultants without regard to any performance measures. All options issued pursuant to the Plan are nontransferable and subject to forfeiture. The Plans provide for the grant of equity-based awards, including options, stock appreciation rights, restricted stock awards or performance share awards or any other right or interest relating to shares or cash, to eligible participants. The Plans contemplate the issuance of common stock upon exercise of options or other awards granted to eligible persons under the Plans. Shares issued under the Plans may be both authorized and unissued shares or previously issued shares acquired by the Company. Upon termination or expiration of an unexercised option, stock appreciation right or other stock-based award under the Plans, in whole or in part, the number of shares of common stock subject to such award again becomes available for grant under the Plans. Any shares of restricted stock forfeited as described below will become available for grant. The maximum number of shares that may be granted to any one participant in any calendar year may not exceed 50,000 shares. All options issued pursuant to the Plan are nontransferable and subject to forfeiture. Options granted under the Plans are not generally transferable and must be exercised within 10 years, subject to earlier termination upon termination of the option holder’s employment, but in no event later than the expiration of the option’s term. The exercise price of each option may not be less than the fair market value of a share of the Company’s common stock on the date of grant (except in connection with the assumption or substitution for another option in a manner qualifying under Section 424(a) of the Internal Revenue Code of 1986, as amended. Incentive stock options granted to any participant who owns 10% or more of the Company’s outstanding common stock (a “Ten Percent Shareholder”) must have an exercise price equal to or exceeding 110% of the fair market value of a share of our common stock on the date of the grant and must not be exercisable for longer than five years. Options become vested and exercisable at such times or upon such events and subject to such terms, conditions, performance criteria or restrictions as specified by the Board of Directors. The maximum term of any option granted under the 2015 Plan is ten years, provided that an incentive stock option granted to a Ten Percent Shareholder must have a term not exceeding five years. Under the Plans, a participant may also be awarded a “performance award,” which means that the participant may receive cash, stock or other awards contingent upon achieving performance goals established by the Board of Directors. The Board of Directors may also make “deferred share” awards, which entitle the participant to receive the Company’s stock in the future for services performed between the date of the award and the date the participant may receive the stock. The vesting of deferred share awards may be based on performance criteria and/or continued service with the Company. A participant who is granted a “stock appreciation right” under the Plan has the right to receive all or a percentage of the fair market value of a share of stock on the date of exercise of the stock appreciation right minus the grant price of the stock appreciation right determined by the Board of Directors (but in no event less than the fair market value of the stock on the date of grant). Finally, the Board of Directors may make “restricted stock” awards under the Plans, which are subject to such terms and conditions as the Board of Directors determines and as are set forth in the award agreement related to the restricted stock. As of June 30, 2021, the remaining shares to be granted are 20,386 under the 2005 Plan, 98,196 under the 2013 Plan and 306,422 under the 2015 Plan. Stock Grants The following table summarizes stock grants awarded as compensation: # of shares Weighted Average Grant Date Fair Value ($) Unvested, June 30, 2019 81,515 $ 5.88 Granted 200,273 $ 4.61 Vested (210,408 ) $ 4.71 Forfeited / Cancelled (4,959 ) $ 6.05 Unvested, June 30, 2020 66,421 $ 5.75 Granted - $ - Vested (59,436 ) $ 5.75 Forfeited / Cancelled - $ - Unvested, June 30, 2021 6,985 $ 5.79 For the years ended June 30, 2021 and 2020, the Company recorded compensation expense of $341,773 and $808,458, respectively. The compensation expense related to the unvested stock grants as of June 30, 2021 was $31,455 which will be recognized during the fiscal year 2022.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 19 – COMMITMENTS AND CONTINGENCIES From time to time, the Company is subject to legal proceedings, claims, and litigation arising in the ordinary course of business including tax assessments. The Company defends itself vigorously against any such claims. When (i) it is probable that an asset has been impaired or a liability has been incurred and (ii) the amount of the loss can be reasonably estimated, the Company records the estimated loss. The Company provides disclosure in the notes to the consolidated financial statements for loss contingencies that do not meet both conditions if there is a reasonable possibility that a loss may have been incurred that would be material to the financial statements. Significant judgment is required to determine the probability that a liability has been incurred and whether such liability is reasonably estimable. The Company bases accruals on the best information available at the time, which can be highly subjective. The final outcome of these matters could vary significantly from the amounts included in the accompanying consolidated financial statements.

Retirement Plans

Retirement Plans	12 Months Ended
	Jun. 30, 2021
Retirement Benefits [Abstract]
Retirement Plans	NOTE 20 – RETIREMENT PLANS The Company and its subsidiaries have varying defined contribution plans based on country specific laws. Employer contributions vary by subsidiary from 0% up to 8% taking the form in some jurisdictions of employee matching contributions and in others direct employer contributions mandated by local law. During the years ended June 30, 2021 and 2020, the Company contributed $1,237,677 and $1,135,233, respectively, to these plans.

Segment Information and Geograp

Segment Information and Geographic Areas	12 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Segment Information and Geographic Areas	NOTE 21 – SEGMENT INFORMATION AND GEOGRAPHIC AREAS The Company has identified three segments for its products and services; North America, Europe and Asia-Pacific. The reportable segments are business units located in different global regions. Each business unit provides similar products and services; license fees for leasing and asset-based software, related post contract support fees, and implementation and IT consulting services. Separate management of each segment is required because each business unit is subject to different operational issues and strategies due to their particular regional location. The Company accounts for intra-company sales and expenses as if the sales or expenses were to third parties and eliminates them in the consolidation. The following table presents a summary of identifiable assets as of June 30, 2021 and 2020: As of As of June 30, 2021 June 30, 2020 Identifiable assets: Corporate headquarters $ 2,067,474 $ 4,508,724 North America 6,073,616 5,949,653 Europe 10,363,611 10,856,814 Asia - Pacific 68,101,560 67,157,898 Consolidated $ 86,606,261 $ 88,473,089 The following table presents a summary of investments under the equity method as of June 30, 2021 and 2020: As of As of June 30, 2021 June 30, 2020 Investment in associates under equity method: Corporate headquarters $ 396,403 $ 473,692 Asia - Pacific 2,759,449 1,914,000 Consolidated $ 3,155,852 $ 2,387,692 The following table presents a summary of operating information for the years ended June 30: For the Years Ended June 30, 2021 2020 Revenues from unaffiliated customers: North America $ 3,724,547 $ 4,444,862 Europe 11,283,499 11,914,071 Asia - Pacific 39,863,794 39,712,565 54,871,840 56,071,498 Revenue from affiliated customers Asia - Pacific 48,775 300,821 48,775 300,821 Consolidated $ 54,920,615 $ 56,372,319 Intercompany revenue Europe $ 549,031 $ 585,250 Asia - Pacific 11,678,429 7,045,640 Eliminated $ 12,227,460 $ 7,630,890 Net income (loss) after taxes and before non-controlling interest: Corporate headquarters $ 1,992,218 $ (408,016 ) North America (161,198 ) (241,444 ) Europe (74,146 ) 1,766,434 Asia - Pacific 504,758 75,049 Consolidated $ 2,261,632 $ 1,192,023 Depreciation and amortization: North America $ 4,310 $ 11,828 Europe 465,825 353,862 Asia - Pacific 3,486,179 3,366,264 Consolidated $ 3,956,314 $ 3,731,954 Interest expense: Corporate headquarters $ 17,418 $ 33,710 Europe 11,426 9,905 Asia - Pacific 365,445 303,241 Consolidated $ 394,289 $ 346,856 Income tax expense: Corporate headquarters $ 69,350 $ 1,075 North America 44,604 1,200 Europe 190,730 326,524 Asia - Pacific 721,933 812,269 Consolidated $ 1,026,617 $ 1,141,068 The following table presents a summary of capital expenditures for the years ended June 30: For the Years Ended June 30, 2021 2020 Capital expenditures: North America $ 1,521 $ 3,904 Europe 441,672 763,308 Asia - Pacific 2,108,090 609,933 Consolidated $ 2,551,283 $ 1,377,145 Geographic Information Disclosed in the table below is geographic information for each country that comprised greater than five percent of total revenues for the years ended June 30, 2021 and 2020. June 30, 2021 June 30, 2020 Revenue Long-lived Assets Revenue Long-lived Assets China $ 22,716,598 $ 509,935 $ 20,065,572 $ 843,694 Thailand 4,518,145 2,033,628 3,807,648 900,514 USA 2,691,811 5,440,078 3,457,676 5,689,067 UK 11,283,500 5,217,594 12,275,903 5,528,801 Pakistan & India 1,478,071 17,618,325 2,008,907 19,103,687 Australia & New Zealand 4,771,216 207,927 3,149,715 261,615 Mexico 1,032,736 - 987,190 - Indonesia 3,221,342 - 5,611,454 - South Africa 924,316 - 496,480 - Other Countries 2,282,880 - 4,511,774 - Total $ 54,920,615 $ 31,027,487 $ 56,372,319 $ 32,327,378 Disclosed in the table below is the geographic information of total revenues by country for the years ended June 30, 2021 and 2020. Revenues 2021 Total China Thailand USA UK Pakistan & India Australia & New Zealand Mexico Indonesia South Africa Other Countries North America: $ 3,724,547 $ - $ - $ 2,691,811 $ - $ - $ - $ 1,032,736 $ - $ - $ - Europe: 11,283,500 - - - 11,283,500 - - - - - - Asia-Pacific: 39,912,568 22,716,598 4,518,145 - - 1,478,071 4,771,216 - 3,221,342 924,316 2,282,880 Total $ 54,920,615 $ 22,716,598 $ 4,518,145 $ 2,691,811 $ 11,283,500 $ 1,478,071 $ 4,771,216 $ 1,032,736 $ 3,221,342 $ 924,316 $ 2,282,880 Revenues 2020 Total China Thailand USA UK Pakistan & India Australia & New Zealand Mexico Indonesia South Africa Other Countries North America: $ 4,444,863 $ - $ - $ 3,457,673 $ - $ - $ - $ 987,190 $ - $ - $ - Europe: 11,914,070 - - - 11,914,070 - - - - - - Asia-Pacific: 40,013,386 20,065,572 3,807,648 - 361,833 2,008,910 3,149,715 - 5,611,454 496,480 4,511,774 Total $ 56,372,319 $ 20,065,572 $ 3,807,648 $ 3,457,673 $ 12,275,903 $ 2,008,910 $ 3,149,715 $ 987,190 $ 5,611,454 $ 496,480 $ 4,511,774

Non-Controlling Interest in Sub

Non-Controlling Interest in Subsidiary	12 Months Ended
	Jun. 30, 2021
Noncontrolling Interest [Abstract]
Non-Controlling Interest in Subsidiary	NOTE 22 – NON-CONTROLLING INTEREST IN SUBSIDIARY The Company had non-controlling interests in several of its subsidiaries. The balance of non-controlling interest was as follows: SUBSIDIARY Non-Controlling Interest % Non-Controlling Interest at June 30, 2021 NetSol PK 33.88 % $ 7,101,883 NetSol-Innovation 33.88 % 136,611 NetSol Thai 0.006 % (208 ) OTOZ Thai 0.006 % (52 ) OTOZ 5.00 % (22,761 ) Total $ 7,215,473 SUBSIDIARY Non-Controlling Interest % Non-Controlling Interest at June 30, 2020 NetSol PK 33.88 % $ 6,361,747 NetSol-Innovation 33.88 % 128,514 NetSol Thai 0.006 % (39 ) OTOZ Thai 0.006 % 4 OTOZ 5.00 % (1,326 ) Total $ 6,488,900 NetSol PK During the year ended June 30, 2020, employees of NetSol PK exercised and 114,000 options of common stock and NetSol PK received cash of $11,261, respectively. Due to the exercise of options, the non-controlling interest increased from 33.80% at June 30, 2019 to 33.88% at June 30, 2020. During the year ended June 30, 2020, NetSol PK paid a cash dividend of $1,610,909. NetSol Innovation During the year ended June 30, 2020, the Company’s subsidiary NetSol PK purchased NetSol Innovation, from 1insurer for $89,425. Due to this purchase, the non-controlling interest decreased from 49.90% at June 30, 2019 to 33.88% at June 30, 2020. During the year ended June 30, 2020, NetSol Innovation paid a cash dividend of $2,778,453.

Subsequent Events

Subsequent Events	12 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	NOTE 23 – SUBSEQUENT EVENTS Subsequent to year end, the Company purchased 22,510 shares of the Company’s common stock for $100,106 pursuant to the stock repurchase plan.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company as follows: Wholly owned Subsidiaries NetSol Technologies Americas, Inc. (“NTA”) NetSol Connect (Private), Ltd. (“Connect”) NetSol Technologies Australia Pty Ltd. (“Australia”) NetSol Technologies Europe Limited (“NTE”) NTPK (Thailand) Co. Limited (“NTPK Thailand”) NetSol Technologies (Beijing) Co. Ltd. (“NetSol Beijing”) Ascent Europe Ltd. (“AEL”) Virtual Lease Services Holdings Limited (“VLSH”) Virtual Lease Services Limited (“VLS”) Virtual Lease Services (Ireland) Limited (“VLSIL”) Majority-owned Subsidiaries NetSol Technologies, Ltd. (“NetSol PK”) NetSol Innovation (Private) Limited (“NetSol Innovation”) NetSol Technologies Thailand Limited (“NetSol Thai”) OTOZ, Inc. (“OTOZ”) OTOZ (Thailand) Limited (“OTOZ Thai”) The Company consolidates any variable interest entities of which it is the primary beneficiary. Equity investments through which the Company exercises significant influence over but does not control the investee and is not the primary beneficiary of the investee’s activities are accounted for using the equity method. Investments through which the Company is not able to exercise significant influence over the investee and which do not have readily determinable fair values are accounted for under the cost method. All material inter-company accounts have been eliminated in the consolidation.
Reclassifications	Reclassifications For comparative purposes, prior year’s consolidated financial statements have been reclassified to conform to report classifications of the current period. Below is the table of reclassified amounts: For the Years ended June 30, 2020 Originally reported Reclassified REVENUES License fees $ 4,564,560 $ 3,260,891 Subscription and support 19,019,646 20,254,917 Services 32,487,292 32,555,690 Services - related party 300,821 300,821 Total net revenues $ 56,372,319 $ 56,372,319
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”).
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The areas requiring significant estimates are provision for doubtful accounts, provision for taxation, useful life of depreciable assets, useful life of intangible assets, contingencies, and estimated contract costs. The estimates and underlying assumptions are reviewed on an ongoing basis. Actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include all highly liquid debt instruments with original maturities of three months or less which are not securing any corporate obligations.
Concentration of Credit Risk	Concentration of Credit Risk Cash includes cash on hand and demand deposits in accounts maintained within the United States as well as in foreign countries. Certain financial instruments, which subject the Company to concentration of credit risk, consist of cash and restricted cash. The Company maintains balances at financial institutions which, from time to time, may exceed Federal Deposit Insurance Corporation insured limits for the banks located in the United States. Balances at financial institutions within certain foreign countries are not covered by insurance, except balances maintained in China are insured for RMB500,000 ($77,399) in each bank and in the UK for GBP 85,000 ($118,056) in each bank. The Company maintains two bank accounts in China and six bank accounts in the UK. As of June 30, 2021 and 2020, the Company had uninsured deposits related to cash deposits in accounts maintained within foreign entities of approximately $31,662,035 and $18,210,378, respectively. The Company has not experienced any losses in such accounts. The Company’s operations are carried out globally. Accordingly, the Company’s business, financial condition and results of operations may be influenced by the political, economic and legal environments of each country and by the general state of the country’s economy. The Company’s operations in each foreign country are subject to specific considerations and significant risks not typically associated with companies in economically developed nations. These include risks associated with, among others, the political, economic and legal environments and foreign currency exchange. The Company’s results may be adversely affected by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods of taxation, among other things.
Accounts Receivable and Allowance for Doubtful Accounts	Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable are recorded at the invoiced amount and are non-interest bearing. The Company maintains an allowance for doubtful accounts for estimated losses inherent in its accounts receivable portfolio. In establishing the required allowance, management regularly reviews the composition of accounts receivable and analyzes customer credit worthiness, customer concentrations, current economic trends and changes in customer payment patterns. Reserves are recorded primarily on a specific identification basis. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote.
Notes Receivable	Notes Receivable Notes Receivable that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at the principal balance outstanding, net of purchase premiums and discounts, deferred loan fees and costs, and an allowance for loan losses. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income.
Revenues in Excess of Billings	Revenues in Excess of Billings Revenues in excess of billings represent the total of the project to be billed to the customer for revenues recognized per US GAAP. As the customers are billed under the terms of their contract, the corresponding amount is transferred from this account to “Accounts Receivable.”
Investments	Investments The Company uses the equity investment without readily determinable fair value method to account for investments in businesses that are not publicly traded and for which the Company does not control or have the ability to exercise significant influence over operating and financial policies. In accordance with this method, these investments are recorded at lower of cost or fair value, as appropriate, and are classified as long-term. Investments held by the Company in businesses that are not publicly traded and for which the Company has the ability to exercise significant influence over operating and financial management are accounted for under the equity method. In accordance with the equity method, these investments are originally recorded at cost and are adjusted for the Company’s proportionate share of earnings, losses and distributions. These investments are classified as long-term. The Company assesses and records impairment losses when events and circumstances indicate the investments might be impaired. Gains and losses are recognized when realized and recorded in other income (expense) in the accompanying Consolidated Statements of Operations.
Property and Equipment	Property and Equipment Property and equipment are stated at cost. Expenditures for maintenance and repairs are charged to earnings as incurred; additions, renewals and betterments are capitalized. When property and equipment are retired or otherwise disposed of, the related cost and accumulated depreciation are removed from the respective accounts, and any gain or loss is included in operations. Depreciation is computed using various methods over the estimated useful lives of the assets, ranging from three to twenty years. Following is the summary of estimated useful lives of the assets: Category Estimated Useful Life Computer equipment and software 3 to 5 Years Office furniture and equipment 5 to 10 Years Building 20 Years Autos 5 Years Assets under capital leases 3 to 10 Years Improvements 5 to 10 Years The Company capitalizes costs of materials, consultants, and payroll and payroll-related costs for employees incurred in developing internal-use computer software. These costs are included with “Computer equipment and software.”
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets The Company tests long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable through the estimated undiscounted cash flows expected to result from the use and eventual disposition of the assets. Whenever any such impairment exists, an impairment loss will be recognized for the amount by which the carrying value exceeds the fair value.
Intangible Assets	Intangible Assets Intangible assets consist of product licenses, renewals, enhancements, copyrights, trademarks, trade names, and customer lists. Intangible assets with finite lives are amortized over the estimated useful life and are evaluated for impairment at least on an annual basis and whenever events or changes in circumstances indicate that the carrying value may not be recoverable. The Company assesses recoverability by determining whether the carrying value of such assets will be recovered through the discounted expected future cash flows. If the future discounted cash flows are less than the carrying amount of these assets, the Company recognizes an impairment loss based on the excess of the carrying amount over the fair value of the assets.
Software Development Costs	Software Development Costs Costs incurred to internally develop computer software products or to enhance an existing product are recorded as research and development costs and expensed when incurred until technological feasibility for the respective product is established. Thereafter, all software development costs are capitalized and reported at the lower of unamortized cost or net realizable value. Capitalization ceases when the product or enhancement is available for general release to customers. The Company makes on-going evaluations of the recoverability of its capitalized software projects by comparing the amount capitalized for each product to the estimated present value of expected future net income from the product. If such evaluations indicate that the unamortized software development costs exceed the present value of expected future net income, the Company writes off the amount which the unamortized software development costs exceed such present value. Capitalized and purchased computer software development costs are being amortized ratably based on the projected revenue associated with the related software or on a straight-line basis.
Research and Development Costs	Research and Development Costs Research and development expenses are comprised of salaries, benefits and overhead expenses of employees involved in software product enhancement and development, cost of outside contractors engaged to perform quality assurance, software product enhancement and development (if any). Development costs are expensed as incurred.
Goodwill	Goodwill Goodwill represents the excess of the aggregate purchase price over the fair value of the net assets acquired in a purchase business combination. Goodwill is reviewed for impairment on an annual basis, or more frequently if events or changes in circumstances indicate that the carrying amount of goodwill may be impaired. In conducting its annual impairment test, the Company first reviews qualitative factors to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying amount. If factors indicate that the fair value of the reporting unit is less than its carrying amount, the Company performs a quantitative assessment and the fair value of the reporting unit is determined by analyzing the expected present value of future cash flows. If the carrying value of the reporting unit continues to exceed its fair value, the fair value of the reporting unit’s goodwill is calculated and an impairment loss equal to the excess is recorded.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company applies the provisions of ASC 820-10, “Fair Value Measurements and Disclosures.” The three levels of valuation hierarchy are defined as follows: Level 1: Valuations consist of unadjusted quoted prices in active markets for identical assets and liabilities and has the highest priority. Level 2: Valuations rely on quoted prices in markets that are not active or observable inputs over the full term of the asset or liability. Level 3: Valuations are based on prices or third party or internal valuation models that require inputs that are significant to the fair value measurement and are less observable and thus have the lowest priority. Our financial assets that are measured at fair value on a recurring basis as of June 30, 2021 are as follows: Level 1 Level 2 Level 3 Total Assets Revenues in excess of billings - long term $ - $ - $ 957,603 $ 957,603 Total $ - $ - $ 957,603 $ 957,603 Our financial assets that are measured at fair value on a recurring basis as of June 30, 2020, are as follows: Level 1 Level 2 Level 3 Total Assets Revenues in excess of billings - long term $ - $ - $ 1,300,289 $ 1,300,289 Total $ - $ - $ 1,300,289 $ 1,300,289 The reconciliation for the years ended June 30, 2021 and 2020 is as follows: Revenues in excess of billings - long term Fair value discount Total Balance at June 30, 2019 $ 1,380,631 $ (99,139 ) $ 1,281,492 Amortization during the period - 55,344 55,344 Effect of Translation Adjustment (39,056 ) 2,509 (36,547 ) Balance at June 30, 2020 $ 1,341,575 $ (41,286 ) $ 1,300,289 Additions 1,023,634 (78,124 ) 945,510 Amortization during the period - 53,119 53,119 Transfers to short term (1,341,575 ) - (1,341,575 ) Effect of Translation Adjustment 748 (488 ) 260 Balance at June 30, 2021 $ 1,024,382 $ (66,779 ) $ 957,603 The Company used the discounted cash flow method with interest rates ranging from 4.65% to 6.25% and 4.35% for the years ended June 30, 2021 and 2020, respectively. Management analyzes all financial instruments with features of both liabilities and equity under ASC 480, “Distinguishing Liabilities From Equity” “Derivatives and Hedging.”
Unearned Revenue	Unearned Revenue Unearned revenue represents billings in excess of revenue earned on contracts and are recognized on a pro-rata basis over the life of the contract. Unearned revenue was $4,556,626 and $4,095,472 at June 30, 2021 and 2020, respectively.
Cost of Revenues	Cost of Revenues Cost of revenues includes salaries and benefits for technical employees, consultant costs, amortization of capitalized computer software development costs, depreciation of computer and equipment, travel costs, and indirect costs such as rent and insurance.
Advertising Costs	Advertising Costs The Company expenses the cost of advertising as incurred. Advertising costs for the years ended June 30, 2021 and 2020 were $224,933 and $285,964, respectively.
Share-Based Compensation	Share-Based Compensation The Company records stock compensation in accordance with ASC 718, Compensation – Stock Compensation
Income Taxes	Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is provided for deferred tax assets if it is more likely than not these items will either expire before the Company is able to realize their benefits, or that future deductibility is uncertain. When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the balance sheets along with any associated interest and penalties that would be payable to the taxing authorities upon examination. Applicable interest and penalties associated with unrecognized tax benefits are classified as additional income taxes in the statements of operations.
Foreign Currency Translation	Foreign Currency Translation The Company transacts business in various foreign currencies. The accounts of NetSol UK, NTE, AEL, VLSH and VLS use the British Pound; VLSIL uses the Euro; NetSol PK, Connect, Omni and NetSol Innovation use Pakistan Rupees; NTPK Thailand, NetSol Thai and OTOZ Thai use Thai Baht; NetSol Australia uses the Australian dollar; and NetSol Beijing uses the Chinese Yuan as the functional currencies. NetSol Technologies, Inc., and its subsidiaries, NTA and OTOZ, use the U.S. dollar as the functional currency. Consequently, revenues and expenses of operations outside the United States are translated into U.S. Dollars using average exchange rates while assets and liabilities of operations outside the United States are translated into U.S. Dollars using exchange rates at the balance sheet date. The effects of foreign currency translation adjustments are recorded to other comprehensive income.
Statement of Cash Flows	Statement of Cash Flows The Company’s cash flows from operations are calculated based upon the local currencies. As a result, amounts related to assets and liabilities reported on the statement of cash flows will not necessarily agree with changes in the corresponding balances on the consolidated balance sheet.
Segment Reporting	Segment Reporting The Company defines operating segments as components about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performances. The Company allocates its resources and assesses the performance of its sales activities based on the geographic locations of its subsidiaries. (See Note 21 “Segment Information and Geographic Areas”)
Recent Accounting Standards Adopted by the Company	Recent Accounting Standards Adopted by the Company: In January 2017, the Financial Accounting Standards Board (“FASB”) issued ASU 2017-04, Simplifying the Test for Goodwill Impairment In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments The Company adopted the standard on July 1, 2020 using the modified retrospective approach. The adoption of ASU 2016-13 resulted in changes to the Company’s accounting policies for trade and other receivables, contract assets and convertible notes receivable. Based on the results of the Company’s evaluation, the adoption of ASU 2016-13 resulted in a one-time cumulative-effect adjustment through retained earnings of $6,784,300 to increase its allowance for credit losses related to the convertible notes receivable, interest receivable, accounts receivable, revenues in excess of billings, and other receivables. The following table presents the impact of adopting ASC Topic 326 as of July 1, 2020: Adjustment to Adopt Asset Classification ASC Topic 326 Allowance for credit losses - accounts receivable $ 109,486 Allowance for credit losses - accounts receivable - related party 1,282,505 Allowance for credit losses - revenue in excess of billings - related party 8,163 Allowance for credit losses - convertible notes receivable - related party 4,250,000 Allowance for credit losses - other current assets 1,134,146 $ 6,784,300 Accounts receivable includes trade accounts receivables from the Company’s customers, net of an allowance for credit risk. Accounts receivable are recorded at the invoiced amount and do not bear interest. In establishing the required allowance, management regularly reviews the composition of accounts receivable and analyzes customer credit worthiness, customer concentrations, current economic trends and changes in customer payment patterns. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote.x Revenue in excess of billings, relates to services performed which were not billed, net of an allowance for credit risk. As customers are billed under the terms of the contract, the corresponding amount is transferred to accounts receivable. In establishing the required allowance, management regularly reviews the composition of and analyzes customer credit worthiness, customer concentrations, current economic trends, changes in customer payment patterns, the project status and assesses individual unbilled contract assets over a specific aging and amount. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The convertible notes receivable represents loans provided to WRLD3D. The allowance for credit risk for the convertible notes is established based on various quantitative and qualitative factors including customer credit worthiness, current economic trends and changes in payment patterns. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote.
Accounting Standards Recently Issued but Not Yet Adopted by the Company	Accounting Standards Recently Issued but Not Yet Adopted by the Company: In December 2019, the FASB issued ASU No. 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes” (“ASU 2019-12”). ASU 2019-12 removes certain exceptions for recognizing deferred taxes for investments, performing intraperiod allocation and calculating income taxes in interim periods. The ASU also adds guidance to reduce complexity in certain areas, including recognizing deferred taxes for tax goodwill and allocating taxes to members of a consolidated group. This ASU is effective for fiscal years (and interim periods within those fiscal years) beginning after December 15, 2020, which for the Company is the first quarter of fiscal 2022. Early adoption is permitted. The Company does not expect this update to have a material impact on its Consolidated Financial Statements. In August 2020, the FASB issued ASU No. 2020-06, “Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity” (“ASU 2020-06”). ASU 2020-06 reduces the number of accounting models for convertible debt instruments and convertible preferred stock and results in fewer instruments with embedded conversion features being separately recognized from the host contract as compared with current standards. Those instruments that do not have a separately recognized embedded conversion feature will no longer recognize a debt issuance discount related to such a conversion feature and would recognize less interest expense on a periodic basis. Additionally, the ASU amends the calculation of the share dilution impact related to a conversion feature and eliminates the treasury method as an option. For instruments that do not have a component mandatorily settled in cash, the change will likely result in a higher amount of share dilution in the calculation of earnings per share. This ASU is effective for fiscal years (and interim periods within those fiscal years) beginning after December 15, 2021, which for the Company is the first quarter of fiscal 2023, with early adoption permitted beginning in the first quarter of fiscal 2022. The Company is currently assessing the impact and timing of adoption of this ASU. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of Effects of Reference Rate Reform on Financial Reporting All other newly issued accounting pronouncements not yet effective have been deemed either immaterial or not applicable.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Reclassified Net Revenues	For comparative purposes, prior year’s consolidated financial statements have been reclassified to conform to report classifications of the current period. Below is the table of reclassified amounts: For the Years ended June 30, 2020 Originally reported Reclassified REVENUES License fees $ 4,564,560 $ 3,260,891 Subscription and support 19,019,646 20,254,917 Services 32,487,292 32,555,690 Services - related party 300,821 300,821 Total net revenues $ 56,372,319 $ 56,372,319
Summary of Estimated Useful Lives of Assets	Following is the summary of estimated useful lives of the assets: Category Estimated Useful Life Computer equipment and software 3 to 5 Years Office furniture and equipment 5 to 10 Years Building 20 Years Autos 5 Years Assets under capital leases 3 to 10 Years Improvements 5 to 10 Years
Schedule of Fair Value of Financial Assets Measured on Recurring Basis	Our financial assets that are measured at fair value on a recurring basis as of June 30, 2021 are as follows: Level 1 Level 2 Level 3 Total Assets Revenues in excess of billings - long term $ - $ - $ 957,603 $ 957,603 Total $ - $ - $ 957,603 $ 957,603 Our financial assets that are measured at fair value on a recurring basis as of June 30, 2020, are as follows: Level 1 Level 2 Level 3 Total Assets Revenues in excess of billings - long term $ - $ - $ 1,300,289 $ 1,300,289 Total $ - $ - $ 1,300,289 $ 1,300,289
Schedule of Fair Value of Financial Instruments Reconciliation	The reconciliation for the years ended June 30, 2021 and 2020 is as follows: Revenues in excess of billings - long term Fair value discount Total Balance at June 30, 2019 $ 1,380,631 $ (99,139 ) $ 1,281,492 Amortization during the period - 55,344 55,344 Effect of Translation Adjustment (39,056 ) 2,509 (36,547 ) Balance at June 30, 2020 $ 1,341,575 $ (41,286 ) $ 1,300,289 Additions 1,023,634 (78,124 ) 945,510 Amortization during the period - 53,119 53,119 Transfers to short term (1,341,575 ) - (1,341,575 ) Effect of Translation Adjustment 748 (488 ) 260 Balance at June 30, 2021 $ 1,024,382 $ (66,779 ) $ 957,603
Schedule of the Impact of Adopting Topic 326	The following table presents the impact of adopting ASC Topic 326 as of July 1, 2020: Adjustment to Adopt Asset Classification ASC Topic 326 Allowance for credit losses - accounts receivable $ 109,486 Allowance for credit losses - accounts receivable - related party 1,282,505 Allowance for credit losses - revenue in excess of billings - related party 8,163 Allowance for credit losses - convertible notes receivable - related party 4,250,000 Allowance for credit losses - other current assets 1,134,146 $ 6,784,300

Revenue Recognition (Tables)

Revenue Recognition (Tables)	12 Months Ended
	Jun. 30, 2021
Revenue Recognition and Deferred Revenue [Abstract]
Schedule of Disaggregated Revenue by Category	The Company’s disaggregated revenue by category is as follows: For the Years Ended June 30, 2021 2020 Core: License $ 6,249,924 $ 3,260,891 Subscription and support 22,173,745 20,254,917 Services 20,139,320 25,713,554 Services - related party 48,775 300,821 Total core revenue, net 48,611,764 49,530,183 Non-Core: Services 6,308,851 6,842,136 Total non-core revenue, net 6,308,851 6,842,136 Total net revenue $ 54,920,615 $ 56,372,319
Schedule of Revenues in Excess of Billings and Deferred Revenue	The Company’s revenues in excess of billings and unearned revenue are as follows: As of As of June 30, 2021 June 30, 2020 Revenues in excess of billings $ 15,637,734 $ 18,506,733 Unearned revenue $ 4,556,626 $ 4,095,472

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Schedule of Components of Basic and Diluted Earnings Per Share	The components of basic and diluted earnings per share were as follows: For the year ended June 30, 2021 Net Income Shares Per Share Basic income per share: Net income available to common shareholders $ 1,778,257 11,499,983 $ 0.15 Effect of dilutive securities Share grants - - - Diluted income per share $ 1,778,257 11,499,983 $ 0.15 For the year ended June 30, 2020 Net Income Shares Per Share Basic income per share: Net income available to common shareholders $ 937,081 11,734,648 $ 0.08 Effect of dilutive securities Share grants - 49,766 - Diluted income per share $ 937,081 11,784,414 $ 0.08

Convertible Note Receivable -_2

Convertible Note Receivable - Related Party (Tables)	12 Months Ended
	Jun. 30, 2021
Receivables [Abstract]
Schedule of Convertible Notes	The following table summarizes the convertible notes receivable from WRLD3D. Convertible Agreement Interest Maturity Note Accrued Date Rate Date Amount Interest May 25, 2017 5 % March 2, 2018 $ 750,000 $ 110,202 February 9, 2018 10 % March 31, 2019 2,500,000 500,773 April 1, 2019 10 % March 31, 2020 600,000 57,648 August 19, 2019 10 % March 31, 2020 400,000 32,439 4,250,000 701,062 Less allowance for doubtful account (4,250,000 ) (701,062 ) Net Balance $ - $ -

Other Current Assets (Tables)

Other Current Assets (Tables)	12 Months Ended
	Jun. 30, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Current Assets	Other current assets consisted of the following: As of As of June 30, 2021 June 30, 2020 Prepaid Expenses $ 1,987,556 $ 1,035,415 Advance Income Tax 344,699 355,482 Employee Advances 28,816 44,415 Security Deposits 281,464 270,403 Other Receivables 143,258 101,451 Other Assets 223,600 57,381 Due From Related Party 1,243,633 1,243,633 4,253,026 3,108,180 Less allowance for doubtful account (1,243,633 ) - Net Balance $ 3,009,393 $ 3,108,180

Revenues in Excess of Billing_2

Revenues in Excess of Billings - Long Term (Tables)	12 Months Ended
	Jun. 30, 2021
Contractors [Abstract]
Schedule of Revenues in Excess of Billings	Revenues in excess of billings, net consisted of the following: As of As of June 30, 2021 June 30, 2020 Revenues in excess of billings - long term $ 1,024,382 $ 1,341,575 Present value discount (66,779 ) (41,286 ) Net Balance $ 957,603 $ 1,300,289

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consisted of the following: As of As of June 30, 2021 June 30, 2020 Office Furniture and Equipment $ 3,440,501 $ 3,143,833 Computer Equipment 18,681,991 19,256,543 Assets Under Capital Leases 1,136,128 1,443,423 Building 6,205,210 5,848,813 Land 1,608,024 1,512,905 Capital Work In Progress - 27,648 Autos 1,770,147 1,348,405 Improvements 35,592 36,929 Subtotal 32,877,593 32,618,499 Accumulated Depreciation (20,785,781 ) (21,288,868 ) Property and Equipment, Net $ 12,091,812 $ 11,329,631
Summary of Fixed Assets Held Under Capital Leases	Following is a summary of fixed assets held under capital leases as of June 30, 2021 and 2020: As of As of June 30, 2021 June 30, 2020 Computers and Other Equipment $ 169,487 $ 328,621 Furniture and Fixtures 57,509 51,119 Vehicles 909,132 1,063,683 Total 1,136,128 1,443,423 Less: Accumulated Depreciation - Net (627,119 ) (667,096 ) $ 509,009 $ 776,327
Schedule of Finance Lease Term	Finance lease term and discount rate were as follows: As of As of June 30, 2021 June 30, 2020 Weighted average remaining lease term - Finance leases 0.55 Years 1.38 Years Weighted average discount rate - Finance leases 5.6 % 11.7 %

Leases (Tables)

Leases (Tables)	12 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Schedule of Balance Sheet Information Related to Leases	Supplemental balance sheet information related to leases was as follows: As of As of June 30, 2021 June 30, 2020 Assets Operating lease assets, net $ 1,345,869 $ 2,360,129 Liabilities Current Operating $ 857,729 $ 1,111,912 Non-current Operating 564,257 1,339,965 Total Lease Liabilities $ 1,421,986 $ 2,451,877
Schedule of Components of Lease Cost	The components of lease cost were as follows: For the Years Ended June 30, 2021 2020 Amortization of finance lease assets $ 186,721 $ 253,071 Interest on finance lease obligation 32,675 81,907 Operating lease cost 1,271,947 1,258,102 Short term lease cost 91,705 282,806 Sub lease income (35,740 ) (33,426 ) Total lease cost $ 1,547,308 $ 1,842,460
Schedule of Lease Term and Discount Rate	Lease term and discount rate were as follows: As of As of June 30, 2021 June 30, 2020 Weighted average remaining lease term - Operating leases 1.78 Years 2.45 Years Weighted average discount rate - Operating leases 5.7 % 5.6 %
Schedule of Supplemental Disclosures of Cash Flow Information Related to Leases	Supplemental disclosures of cash flow information related to leases were as follows: For the Years Ended June 30 2021 2020 Cash flows related to lease liabilities Operating cash flows related to operating leases $ 1,182,028 $ 1,263,089 Operating cash flows from finance leases $ 25,338 $ 72,999 Financing cash flows from finance leases $ 334,939 $ 324,723
Schedule of Maturities of Operating Lease Liabilities	Maturities of operating lease liabilities were as follows as of June 30, 2021: Amount Within year 1 $ 911,760 Within year 2 496,700 Within year 3 82,282 Within year 4 835 Within year 5 835 Thereafter 2,505 Total Lease Payments 1,494,917 Less: Imputed interest (72,931 ) Present Value of lease liabilities 1,421,986 Less: Current portion (857,729 ) Non-Current portion $ 564,257

Long Term Investment (Tables)

Long Term Investment (Tables)	12 Months Ended
	Jun. 30, 2021
Investments, All Other Investments [Abstract]
Schedule of Long Term Investment	The following table reflects the above investments at June 30, 2021. Drivemate WRLD3D Total Gross investment $ 1,800,000 $ 3,888,889 $ 5,688,889 Cumulative net loss on investment (38,853 ) (1,924,134 ) (1,962,987 ) Cumulative other comprehensive income (loss) - (570,050 ) (570,050 ) Net investment $ 1,761,147 $ 1,394,705 $ 3,155,852

Intangible Assets (Tables)

Intangible Assets (Tables)	12 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Intangible assets consisted of the following: As of As of June 30, 2021 June 30, 2020 Product Licenses - Cost $ 47,244,997 $ 47,244,997 Effect of Translation Adjustment (14,440,001 ) (16,045,322 ) Accumulated Amortization (28,900,340 ) (25,808,598 ) Net Balance $ 3,904,656 $ 5,391,077
Summary of Estimated Amortization Expense of Intangible Assets	Estimated amortization expense of intangible assets over the next five years is as follows: Years ended: June 30, 2022 $ 1,839,736 June 30, 2023 1,839,736 June 30, 2024 225,184 $ 3,904,656

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Goodwill Acquired	Goodwill was comprised of the following amounts: As of June 30, As of June 30, 2021 2020 NetSol PK (Asia - Pacific) $ 1,166,610 $ 1,166,610 NTE (Europe) 3,471,814 3,471,814 VLS (Europe) 214,044 214,044 NTA (North America) 4,664,100 4,664,100 Total $ 9,516,568 $ 9,516,568

Accounts Payable and Accrued _2

Accounts Payable and Accrued Expenses (Tables)	12 Months Ended
	Jun. 30, 2021
Payables and Accruals [Abstract]
Schedule of Accounts Payable and Accrued Expenses	Accounts payable and accrued expenses consisted of the following: As of As of June 30, 2021 June 30, 2020 Accounts Payable $ 1,067,937 $ 1,351,158 Accrued Liabilities 4,512,499 3,349,624 Accrued Payroll & Taxes 228,028 537,888 Taxes Payable 608,121 303,996 Other Payable 279,450 138,171 Total $ 6,696,035 $ 5,680,837

Debts (Tables)

Debts (Tables)	12 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Schedule of Components of Notes Payable and Capital Leases	Notes payable and capital leases consisted of the following: As of June 30, 2021 Current Long-Term Name Total Maturities Maturities D&O Insurance (1) $ 73,143 $ 73,143 $ - Paycheck Protection Program Loans (2) - - - Bank Overdraft Facility (3) - - - Term Finance Facility (4) 1,648,818 1,090,259 558,559 Loan Payable Bank - Export Refinance (5) 3,162,555 3,162,555 - Loan Payable Bank - Running Finance (6) - - - Loan Payable Bank - Export Refinance II (7) 2,403,542 2,403,542 - Loan Payable Bank - Running Finance II (8) - - - Loan Payable Bank - Export Refinance III (9) 4,427,578 4,427,578 - Sale and Leaseback Financing (10) 85,313 28,183 57,130 Term Finance Facility (11) 55,182 19,644 35,538 Insurance Financing (12) 41,774 41,774 - 11,897,905 11,246,678 651,227 Subsidiary Finance Leases (13) 168,107 119,493 48,614 $ 12,066,012 $ 11,366,171 $ 699,841 As of June 30, 2020 Current Long-Term Name Total Maturities Maturities D&O Insurance (1) $ 81,728 $ 81,728 $ - Paycheck Protection Program Loans (2) 469,721 182,669 287,052 Bank Overdraft Facility (3) - - - Term Finance Facility (4) 1,380,878 354,337 1,026,541 Loan Payable Bank - Export Refinance (5) 2,975,482 2,975,482 - Loan Payable Bank - Running Finance (6) - - - Loan Payable Bank - Export Refinance II (7) 2,261,365 2,261,365 - Loan Payable Bank - Running Finance II (8) - - - Loan Payable Bank - Export Refinance III (9) 2,975,483 2,975,483 - Term Finance Facility (11) 65,473 16,423 49,050 Insurance Financing (12) - - - 10,210,130 8,847,487 1,362,643 Subsidiary Finance Leases (13) 469,406 292,074 177,332 $ 10,679,536 $ 9,139,561 $ 1,539,975 (1) The Company finances Directors’ and Officers’ (“D&O”) liability insurance and Errors and Omissions (“E&O”) liability insurance, for which the D&O and E&O balances are renewed on an annual basis and, as such, are recorded in current maturities. The interest rate on these financings range from 5.0% to 7.0% as of June 30, 2021 and 2020, respectively. (2) The Company and its subsidiary, NTA, received Paycheck Protection Program loans of $469,721 introduced by the U.S. Government during the COVID-19 Pandemic. The loans carry an interest rate of 1% and have a maturity date of two years from the date of the disbursement of the loan. This loan is forgivable if the Company meets the criteria set by the U.S. Government. During the year ended June 30, 2021, the Company applied for the loan forgiveness, which was approved by the U.S. Government. (3) The Company’s subsidiary, NTE, has an overdraft facility with HSBC Bank plc whereby the bank would cover any overdrafts up to £300,000, or approximately $416,667. The annual interest rate was 5.1% as of June 30, 2021 and 2020. Total outstanding balance as of June 30, 2021 and 2020 was £nil. This overdraft facility requires that the aggregate amount of invoiced trade debtors (net of provisions for bad and doubtful debts and excluding intra-group debtors) of NTE, not exceeding 90 days old, will not be less than an amount equal to 200% of the facility. As of June 30, 2021, NTE was in compliance with this covenant. (4) The Company’s subsidiary, NetSol PK, has a term finance facility from Askari Bank Limited, approved by the Government of Pakistan to protect the employment situation during the COVID-19 Pandemic. This is a term loan payable in three years. The availed facility amount is Rs. 260,678,180 or $1,648,818, at June 30, 2021, of which $1,090,259 is shown as current and the remaining $558,559 is shown as long term. The availed facility amount is Rs. 232,042,664 or $1,380,878, at June 30, 2020, of which $354,337 is shown as current and the remaining $1,026,541 is shown as long term. The interest rate for the loan was 3% at June 30, 2021 and 2020. (5) The Company’s subsidiary, NetSol PK, has an export refinance facility with Askari Bank Limited, secured by NetSol PK’s assets. This is a revolving loan that matures every six months. Total facility amount is Rs. 500,000,000 or $3,162,555 and Rs. 500,000,000 or $2,975,482 at June 30, 2021 and 2020, respectively. The interest rate for the loan was 3% at June 30, 2021 and 2020. (6) The Company’s subsidiary, NetSol PK, has a running finance facility with Askari Bank Limited, secured by NetSol PK’s assets. Total facility amount is Rs. 75,000,000 or $474,383 and Rs. 75,000,000 or $446,322, at June 30, 2021 and 2020, respectively. The balance outstanding at June 30, 2021 and 2020 was Rs. Nil. The interest rate for the loan was 9.5% and 7.2% at June 30, 2021 and 2020, respectively. These facilities require NetSol PK to maintain a long-term debt equity ratio of 60:40 and the current ratio of 1:1. As of June 30, 2021, NetSol PK was in compliance with this covenant. (7) The Company’s subsidiary, NetSol PK, has an export refinance facility with Samba Bank Limited, secured by NetSol PK’s assets. This is a revolving loan that matures every six months. Total facility amount is Rs. 380,000,000 or $2,403,542 and Rs. 380,000,000 or $2,261,365, at June 30, 2021 and 2020, respectively. The interest rate for the loan was 3% at June 30, 2021 and 2020. (8) The Company’s subsidiary, NetSol PK, has a running finance facility with Samba Bank Limited, secured by NetSol PK’s assets. Total facility amount is Rs. 120,000,000 or $759,013 and Rs. 120,000,000 or $714,116, at June 30, 2021 and 2020, respectively. The interest rate for the loan was 9.0% and 7.7% at June 30, 2021 and 2020, respectively. Total outstanding balance at June 30, 2021 and 2020 was $nil. During the loan tenure, the facilities from Samba Bank Limited require NetSol PK to maintain at a minimum a current ratio of 1:1, an interest coverage ratio of 4 times, a leverage ratio of 2 times, and a debt service coverage ratio of 4 times. As of June 30, 2021, NetSol PK was in compliance with these covenants. (9) The Company’s subsidiary, NetSol PK, has an export refinance facility with Habib Metro Bank Limited, secured by NetSol PK’s assets. This is a revolving loan that matures every nine months. Total facility amount is Rs. 900,000,000 or $5,692,600 and Rs. 900,000,000 or $5,355,868, at June 30, 2021 and 2020, respectively. NetSol PK used Rs. 700,000,000 or $4,427,578 and Rs. 500,000,000 or $2,975,482, at June 30, 2021 and 2020, respectively. The interest rate for the loan was 3% at June 30, 2021 and 2020. (10) The Company’s subsidiary, NetSol PK, availed sale and leaseback financing from First Habib Modaraba secured by the transfer of the vehicles’ title. As of June 30, 2021, NetSol PK used Rs. 13,487,949 or $85,313 of which $57,130 was shown as long term and $28,183 as current. The interest rate for the loan was 9.0% at June 30, 2021. (11) In March 2020, the Company’s subsidiary, VLS, entered into a loan agreement with Investec Bank PLC. The loan amount was £69,549, or $96,596, for a period of 5 years with monthly payments of £1,349, or $1,874. As of June 30, 2021, the subsidiary has used this facility up to $55,182, of which $35,538 was shown as long-term and $19,644 as current. The interest rate was 6.14% at June 30, 2021. (12) The Company’s subsidiary, VLS, finances Directors’ and Officers’ (“D&O”) liability insurance, and the $41,774 is recorded in current maturities. The interest rate on this financing was 4.5% as of June 30, 2021. (13) The Company leases various fixed assets under capital lease arrangements expiring in various years through 2024. The assets and liabilities under capital leases are recorded at the lower of the present value of the minimum lease payments or the fair value of the asset. The assets are secured by the assets themselves. Depreciation of assets under capital leases is included in depreciation expense for the years ended June 30, 2021 and 2020.
Schedule of Aggregate Minimum Future Lease Payments Under Capital Leases	Following is the aggregate minimum future lease payments under capital leases as of June 30, 2021: Amount Minimum Lease Payments Within year 1 $ 126,586 Within year 2 31,386 Within year 3 20,170 Total Minimum Lease Payments 178,142 Interest Expense relating to future periods (10,035 ) Present Value of minimum lease payments 168,107 Less: Current portion (119,493 ) Non-Current portion $ 48,614
Schedule of Aggregate Future Long Term Debt Payments	Following is the aggregate future long term debt payments as of June 30, 2021: Amount Loan Payments Within year 1 $ 1,138,086 Within year 2 610,253 Within year 3 40,974 Total Loan Payments 1,789,313 Less: Current portion (1,138,086 ) Non-Current portion $ 651,227

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Jun. 30, 2020
Schedule of Investments [Abstract]
Schedule of Consolidated Pre-Tax Income (Loss)	Consolidated pre-tax income (loss) consists of the following: Years Ended June 30, 2021 2020 US operations $ 1,944,974 $ 417,885 Foreign operations 1,343,275 1,915,206 $ 3,288,249 $ 2,333,091
Components of Provision for Income Taxes	The components of the provision for income taxes are as follows: Years Ended June 30, 2021 2020 Current: Federal $ - $ - State and Local 113,152 2,275 Foreign 912,663 1,138,793 Deferred: Federal - - State and Local 802 - Foreign - - Provision for income taxes $ 1,026,617 $ 1,141,068
Schedule of Reconciliation of Taxes at Statutory Federal Income Tax Rate Income Tax Expense Benefits	A reconciliation of taxes computed at the statutory federal income tax rate to income tax expense (benefit) is as follows: Years Ended June 30, 2021 2020 Income tax (benefit) provision at statutory rate $ 690,532 21.0 % $ 489,949 21.0 % State income (benefit) taxes, net of federal tax benefit 229,520 7.0 % 162,850 7.0 % Foreign earnings taxed at different rates 72,358 2.2 % 602,918 25.8 % Change in valuation allowance for deferred tax assets 129,758 4 % (120,739 ) -5.2 % Other (95,551 ) -2.9 % 6,090 0.3 % Provision for income taxes $ 1,026,617 31.2 % $ 1,141,068 48.9 %
Schedule of Deferred Income Tax Assets and Liabilities	Deferred income tax assets and liabilities as of June 30, 2021 and 2020 consist of tax effects of temporary differences related to the following: Components of deferred tax asset Years Ended June 30, 2021 2020 Net operating loss carry forwards $ 7,483,618 $ 7,318,282 Other 79,675 115,253 Net deferred tax assets 7,563,293 7,433,535 Valuation allowance for deferred tax assets (7,563,293 ) (7,433,535 ) Net deferred tax assets $ - $ -

Incentive and Non-Statutory S_2

Incentive and Non-Statutory Stock Option Plan (Tables)	12 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Summary of Unvested Stock Grants Awarded as Compensation	The following table summarizes stock grants awarded as compensation: # of shares Weighted Average Grant Date Fair Value ($) Unvested, June 30, 2019 81,515 $ 5.88 Granted 200,273 $ 4.61 Vested (210,408 ) $ 4.71 Forfeited / Cancelled (4,959 ) $ 6.05 Unvested, June 30, 2020 66,421 $ 5.75 Granted - $ - Vested (59,436 ) $ 5.75 Forfeited / Cancelled - $ - Unvested, June 30, 2021 6,985 $ 5.79

Segment Information and Geogr_2

Segment Information and Geographic Areas (Tables)	12 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Summary of Identifiable Assets	The following table presents a summary of identifiable assets as of June 30, 2021 and 2020: As of As of June 30, 2021 June 30, 2020 Identifiable assets: Corporate headquarters $ 2,067,474 $ 4,508,724 North America 6,073,616 5,949,653 Europe 10,363,611 10,856,814 Asia - Pacific 68,101,560 67,157,898 Consolidated $ 86,606,261 $ 88,473,089
Summary of Investment Under Equity Method	The following table presents a summary of investments under the equity method as of June 30, 2021 and 2020: As of As of June 30, 2021 June 30, 2020 Investment in associates under equity method: Corporate headquarters $ 396,403 $ 473,692 Asia - Pacific 2,759,449 1,914,000 Consolidated $ 3,155,852 $ 2,387,692
Summary of Operating Information	The following table presents a summary of operating information for the years ended June 30: For the Years Ended June 30, 2021 2020 Revenues from unaffiliated customers: North America $ 3,724,547 $ 4,444,862 Europe 11,283,499 11,914,071 Asia - Pacific 39,863,794 39,712,565 54,871,840 56,071,498 Revenue from affiliated customers Asia - Pacific 48,775 300,821 48,775 300,821 Consolidated $ 54,920,615 $ 56,372,319 Intercompany revenue Europe $ 549,031 $ 585,250 Asia - Pacific 11,678,429 7,045,640 Eliminated $ 12,227,460 $ 7,630,890 Net income (loss) after taxes and before non-controlling interest: Corporate headquarters $ 1,992,218 $ (408,016 ) North America (161,198 ) (241,444 ) Europe (74,146 ) 1,766,434 Asia - Pacific 504,758 75,049 Consolidated $ 2,261,632 $ 1,192,023 Depreciation and amortization: North America $ 4,310 $ 11,828 Europe 465,825 353,862 Asia - Pacific 3,486,179 3,366,264 Consolidated $ 3,956,314 $ 3,731,954 Interest expense: Corporate headquarters $ 17,418 $ 33,710 Europe 11,426 9,905 Asia - Pacific 365,445 303,241 Consolidated $ 394,289 $ 346,856 Income tax expense: Corporate headquarters $ 69,350 $ 1,075 North America 44,604 1,200 Europe 190,730 326,524 Asia - Pacific 721,933 812,269 Consolidated $ 1,026,617 $ 1,141,068
Summary of Capital Expenditures	The following table presents a summary of capital expenditures for the years ended June 30: For the Years Ended June 30, 2021 2020 Capital expenditures: North America $ 1,521 $ 3,904 Europe 441,672 763,308 Asia - Pacific 2,108,090 609,933 Consolidated $ 2,551,283 $ 1,377,145
Schedule of Geographic Information	Disclosed in the table below is geographic information for each country that comprised greater than five percent of total revenues for the years ended June 30, 2021 and 2020. June 30, 2021 June 30, 2020 Revenue Long-lived Assets Revenue Long-lived Assets China $ 22,716,598 $ 509,935 $ 20,065,572 $ 843,694 Thailand 4,518,145 2,033,628 3,807,648 900,514 USA 2,691,811 5,440,078 3,457,676 5,689,067 UK 11,283,500 5,217,594 12,275,903 5,528,801 Pakistan & India 1,478,071 17,618,325 2,008,907 19,103,687 Australia & New Zealand 4,771,216 207,927 3,149,715 261,615 Mexico 1,032,736 - 987,190 - Indonesia 3,221,342 - 5,611,454 - South Africa 924,316 - 496,480 - Other Countries 2,282,880 - 4,511,774 - Total $ 54,920,615 $ 31,027,487 $ 56,372,319 $ 32,327,378
Schedule of Reconciliation of Revenue	Disclosed in the table below is the geographic information of total revenues by country for the years ended June 30, 2021 and 2020. Revenues 2021 Total China Thailand USA UK Pakistan & India Australia & New Zealand Mexico Indonesia South Africa Other Countries North America: $ 3,724,547 $ - $ - $ 2,691,811 $ - $ - $ - $ 1,032,736 $ - $ - $ - Europe: 11,283,500 - - - 11,283,500 - - - - - - Asia-Pacific: 39,912,568 22,716,598 4,518,145 - - 1,478,071 4,771,216 - 3,221,342 924,316 2,282,880 Total $ 54,920,615 $ 22,716,598 $ 4,518,145 $ 2,691,811 $ 11,283,500 $ 1,478,071 $ 4,771,216 $ 1,032,736 $ 3,221,342 $ 924,316 $ 2,282,880 Revenues 2020 Total China Thailand USA UK Pakistan & India Australia & New Zealand Mexico Indonesia South Africa Other Countries North America: $ 4,444,863 $ - $ - $ 3,457,673 $ - $ - $ - $ 987,190 $ - $ - $ - Europe: 11,914,070 - - - 11,914,070 - - - - - - Asia-Pacific: 40,013,386 20,065,572 3,807,648 - 361,833 2,008,910 3,149,715 - 5,611,454 496,480 4,511,774 Total $ 56,372,319 $ 20,065,572 $ 3,807,648 $ 3,457,673 $ 12,275,903 $ 2,008,910 $ 3,149,715 $ 987,190 $ 5,611,454 $ 496,480 $ 4,511,774

Non-Controlling Interest in S_2

Non-Controlling Interest in Subsidiary (Tables)	12 Months Ended
	Jun. 30, 2021
Noncontrolling Interest [Abstract]
Schedule of Balance of Non-Controlling Interest	The Company had non-controlling interests in several of its subsidiaries. The balance of non-controlling interest was as follows: SUBSIDIARY Non-Controlling Interest % Non-Controlling Interest at June 30, 2021 NetSol PK 33.88 % $ 7,101,883 NetSol-Innovation 33.88 % 136,611 NetSol Thai 0.006 % (208 ) OTOZ Thai 0.006 % (52 ) OTOZ 5.00 % (22,761 ) Total $ 7,215,473 SUBSIDIARY Non-Controlling Interest % Non-Controlling Interest at June 30, 2020 NetSol PK 33.88 % $ 6,361,747 NetSol-Innovation 33.88 % 128,514 NetSol Thai 0.006 % (39 ) OTOZ Thai 0.006 % 4 OTOZ 5.00 % (1,326 ) Total $ 6,488,900

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details Narrative)	6 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021GBP (£)	Jun. 30, 2021CNY (¥)	Jul. 02, 2019USD ($)
Uninsured deposits related to cash deposits	$ 31,662,035	$ 18,210,378
Unearned revenues	4,556,626	4,095,472
Advertising costs	$ 224,933	$ 285,964
Accounting Standards Update ("ASU") No. 2016-13 [Member]
Assets allowance					$ 6,784,300
Discounted Cash Flow [Member]
Interest rates		4.35%
Minimum [Member]
Estimated useful lives of the assets	3 years
Minimum [Member] | Discounted Cash Flow [Member]
Interest rates	4.65%		4.65%	4.65%
Maximum [Member]
Estimated useful lives of the assets	20 years
Maximum [Member] | Discounted Cash Flow [Member]
Interest rates	6.25%		6.25%	6.25%
China [Member]
Uninsured deposits related to cash deposits	$ 77,399
UK [Member]
Uninsured deposits related to cash deposits	$ 118,056
RMB [Member]
Uninsured deposits related to cash deposits | ¥				¥ 500,000
GBP [Member]
Uninsured deposits related to cash deposits | £			£ 85,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Reclassified Net Revenues (Details) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Total net revenues	$ 54,920,615	$ 56,372,319
License Fees [Member]
Total net revenues	6,249,924	3,260,891
Subscription and Support [Member]
Total net revenues	22,173,745	20,254,917
Services [Member]
Total net revenues	26,448,171	32,555,690
Services - Related Party [Member]
Total net revenues	$ 48,775	300,821
As Originally Presented [Member]
Total net revenues		56,372,319
As Originally Presented [Member] | License Fees [Member]
Total net revenues		4,564,560
As Originally Presented [Member] | Subscription and Support [Member]
Total net revenues		19,019,646
As Originally Presented [Member] | Services [Member]
Total net revenues		32,487,292
As Originally Presented [Member] | Services - Related Party [Member]
Total net revenues		300,821
Reclassified [Member]
Total net revenues		56,372,319
Reclassified [Member] | License Fees [Member]
Total net revenues		3,260,891
Reclassified [Member] | Subscription and Support [Member]
Total net revenues		20,254,917
Reclassified [Member] | Services [Member]
Total net revenues		32,555,690
Reclassified [Member] | Services - Related Party [Member]
Total net revenues		$ 300,821

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Summary of Estimated Useful Lives of Assets (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2021
Minimum [Member]
Estimated useful life of assets	3 years
Maximum [Member]
Estimated useful life of assets	20 years
Computer Equipment and Software [Member] | Minimum [Member]
Estimated useful life of assets		3 years
Computer Equipment and Software [Member] | Maximum [Member]
Estimated useful life of assets		5 years
Office Furniture and Equipment [Member] | Minimum [Member]
Estimated useful life of assets		5 years
Office Furniture and Equipment [Member] | Maximum [Member]
Estimated useful life of assets		10 years
Building [Member]
Estimated useful life of assets		20 years
Autos [Member]
Estimated useful life of assets		5 years
Assets Under Capital Leases [Member] | Minimum [Member]
Estimated useful life of assets		3 years
Assets Under Capital Leases [Member] | Maximum [Member]
Estimated useful life of assets		10 years
Improvements [Member] | Minimum [Member]
Estimated useful life of assets		5 years
Improvements [Member] | Maximum [Member]
Estimated useful life of assets		10 years

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Schedule of Fair Value of Financial Assets Measured on Recurring Basis (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Revenues in excess of billings - long term	$ 957,603	$ 1,300,289
Total	957,603	1,300,289
Level 1 [Member]
Revenues in excess of billings - long term
Total
Level 2 [Member]
Revenues in excess of billings - long term
Total
Level 3 [Member]
Revenues in excess of billings - long term	957,603	1,300,289
Total	$ 957,603	$ 1,300,289

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Schedule of Fair Value of Financial Instruments Reconciliation (Details) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Beginning balance	$ 1,300,289	$ 1,281,492
Additions	945,510
Amortization during the period	53,119	55,344
Transfers to short term	(1,341,575)
Effect of Translation Adjustment	260	(36,547)
Ending balance	957,603	1,300,289
Revenues in Excess of Billings - Long Term [Member]
Beginning balance	1,341,575	1,380,631
Additions	1,023,634
Amortization during the period
Transfers to short term	(1,341,575)
Effect of Translation Adjustment	748	(39,056)
Ending balance	1,024,382	1,341,575
Fair Value Discount [Member]
Beginning balance	(41,286)	(99,139)
Additions	(78,124)
Amortization during the period	53,119	55,344
Transfers to short term
Effect of Translation Adjustment	(488)	2,509
Ending balance	$ (66,779)	$ (41,286)

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Schedule of the Impact of Adopting Topic 326 (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Allowance for credit losses - accounts receivable	$ 166,231	$ 435,611
Allowance for credit losses - accounts receivable - related party		1,282,505
Allowance for credit losses - revenue in excess of billings - related party	8,163	0
Allowance for credit losses - convertible notes receivable - related party	4,250,000	0
Allowance for credit losses - other current assets	1,243,633	$ 0
Adjustments to Adopt ASC Topic 326 [Member]
Allowance for credit losses - accounts receivable	109,486
Allowance for credit losses - accounts receivable - related party	1,282,505
Allowance for credit losses - revenue in excess of billings - related party	8,163
Allowance for credit losses - convertible notes receivable - related party	4,250,000
Allowance for credit losses - other current assets	1,134,146
Assets allowance	$ 6,784,300

Revenue Recognition (Details Na

Revenue Recognition (Details Narrative)	12 Months Ended
	Jun. 30, 2021USD ($)
Revenue Recognition and Deferred Revenue [Abstract]
Deferred revenue, revenue recognized	$ 4,087,373
Contracted but unsatisfied performance obligations	48,314,683
Contracted but unsatisfied performance obligations, next twelve months	$ 15,603,135
Estimated revenue recognized term	6 years

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Disaggregated Revenue by Category (Details) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Total net revenues	$ 54,920,615	$ 56,372,319
License Fees [Member]
Total net revenues	6,249,924	3,260,891
Subscription and Support [Member]
Total net revenues	22,173,745	20,254,917
Services [Member]
Total net revenues	26,448,171	32,555,690
Services - Related Party [Member]
Total net revenues	48,775	300,821
Core Revenue [Member]
Total net revenues	48,611,764	49,530,183
Core Revenue [Member] | License Fees [Member]
Total net revenues	6,249,924	3,260,891
Core Revenue [Member] | Subscription and Support [Member]
Total net revenues	22,173,745	20,254,917
Core Revenue [Member] | Services [Member]
Total net revenues	20,139,320	25,713,554
Core Revenue [Member] | Services - Related Party [Member]
Total net revenues	48,775	300,821
Non-Core Revenue [Member]
Total net revenues	6,308,851	6,842,136
Non-Core Revenue [Member] | Services [Member]
Total net revenues	$ 6,308,851	$ 6,842,136

Revenue Recognition - Schedul_2

Revenue Recognition - Schedule of Revenues in Excess of Billings and Deferred Revenue (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Revenue Recognition and Deferred Revenue [Abstract]
Revenues in excess of billings	$ 15,637,734	$ 18,506,733
Unearned revenue	$ 4,556,626	$ 4,095,472

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Components of Basic and Diluted Earnings Per Share (Details) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Earnings Per Share [Abstract]
Net income (loss) available to common shareholders, Net loss	$ 1,778,257	$ 937,081
Net income (loss) available to common shareholders, Shares	11,499,983	11,734,648
Net income (loss) available to common shareholders, Per Share	$ 0.15	$ 0.08
Effect of dilutive securities Share grants, Shares		49,766
Diluted income (loss) per share, Net loss	$ 1,778,257	$ 937,081
Diluted income (loss) per share, Shares	11,499,983	11,784,414
Diluted income (loss) per share, Per Share	$ 0.15	$ 0.08

Major Customers (Details Narrat

Major Customers (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Revenue	$ 54,920,615	$ 56,372,319
Revenues in excess of billings	14,680,131	17,198,281
Revenue in excess of billing - long term	957,603	1,300,289
Daimler Financial Services (DFS) [Member]
Revenues in excess of billings	2,041,750	5,709,226
BMW Financial (BMW) [Member]
Revenues in excess of billings	$ 4,453,299	$ 6,977,375
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Daimler Financial Services (DFS) [Member]
Concentration risk, percentage	21.00%	26.40%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | BMW Financial (BMW) [Member]
Concentration risk, percentage	13.00%	15.80%
Accounts Receivable [Member] | Daimler Financial Services (DFS) [Member]
Accounts receivable, gross	$ 462,861	$ 4,821,468
Accounts Receivable [Member] | BMW Financial (BMW) [Member]
Accounts receivable, gross	35,063	474,271
Daimler Financial Services (DFS) [Member]
Revenue	11,522,694	14,869,030
BMW Financial (BMW) [Member]
Revenue	$ 7,137,653	$ 8,904,809

Convertible Notes Receivable -

Convertible Notes Receivable - Related Party (Details Narrative) - USD ($)	Jun. 30, 2021	Jun. 30, 2020	Aug. 19, 2019	Apr. 02, 2019	Feb. 09, 2018	May 25, 2017
Convertible note, interest rate			10.00%	10.00%	10.00%	5.00%
Accrued interest	$ 701,062	$ 701,062	$ 32,439	$ 57,648	$ 500,773	$ 110,202
WRLD3D [Member] | Minimum [Member]
Convertible note, interest rate	5.00%
WRLD3D [Member] | Maximum [Member]
Convertible note, interest rate	10.00%

Convertible Notes Receivable _2

Convertible Notes Receivable - Related Party - Schedule of Convertible Notes (Details) - USD ($)	Aug. 19, 2019	Apr. 02, 2019	Feb. 09, 2018	May 25, 2017	Jun. 30, 2021	Jun. 30, 2020
Receivables [Abstract]
Interest Rate	10.00%	10.00%	10.00%	5.00%
Maturity Date	Mar. 31, 2020	Mar. 31, 2020	Mar. 31, 2019	Mar. 2, 2018
Convertible Note Amount	$ 400,000	$ 600,000	$ 2,500,000	$ 750,000	$ 4,250,000
Accrued Interest	$ 32,439	$ 57,648	$ 500,773	$ 110,202	701,062	$ 701,062
Less allowance for doubtful account					(4,250,000)
Less allowance for doubtful account, Accrued Interest					(701,062)
Net Balance
Net Balance, Accrued Interest

Other Current Assets - Schedule

Other Current Assets - Schedule of Other Current Assets (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid Expenses	$ 1,987,556	$ 1,035,415
Advance Income Tax	344,699	355,482
Employee Advances	28,816	44,415
Security Deposits	281,464	270,403
Other Receivables	143,258	101,451
Other Assets	223,600	57,381
Due From Related Party	1,243,633	1,243,633
Total	4,253,026	3,108,180
Less allowance for doubtful account	(1,243,633)
Net balance	$ 3,009,393	$ 3,108,180

Revenues in Excess of Billing_3

Revenues in Excess of Billings - Long Term (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Interest income	$ 53,119	$ 55,344
Interest rate discount		4.35%
Minimum [Member]
Interest rate discount	4.65%
Maximum [Member]
Interest rate discount	6.25%

Revenues in Excess of Billing_4

Revenues in Excess of Billings - Long Term - Schedule of Revenues in Excess of Billings (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Contractors [Abstract]
Revenues in excess of billings - long term	$ 1,024,382	$ 1,341,575
Present value discount	(66,779)	(41,286)
Net Balance	$ 957,603	$ 1,300,289

Property and Equipment (Details

Property and Equipment (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 2,148,578	$ 1,903,640
Depreciation reflected in cost of revenues	$ 1,182,953	$ 1,069,057

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Property, Plant and Equipment [Line Items]
Subtotal	$ 32,877,593	$ 32,618,499
Accumulated Depreciation	(20,785,781)	(21,288,868)
Property and Equipment, Net	12,091,812	11,329,631
Office Furniture and Equipment [Member]
Property, Plant and Equipment [Line Items]
Subtotal	3,440,501	3,143,833
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Subtotal	18,681,991	19,256,543
Assets Under Capital Leases [Member]
Property, Plant and Equipment [Line Items]
Subtotal	1,136,128	1,443,423
Building [Member]
Property, Plant and Equipment [Line Items]
Subtotal	6,205,210	5,848,813
Land [Member]
Property, Plant and Equipment [Line Items]
Subtotal	1,608,024	1,512,905
Capital Work in Progress [Member]
Property, Plant and Equipment [Line Items]
Subtotal		27,648
Autos [Member]
Property, Plant and Equipment [Line Items]
Subtotal	1,770,147	1,348,405
Improvements [Member]
Property, Plant and Equipment [Line Items]
Subtotal	$ 35,592	$ 36,929

Property and Equipment - Summar

Property and Equipment - Summary of Fixed Assets Held Under Capital Leases (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Capital Leased Assets [Line Items]
Fixed assets held under finance leases, Total	$ 1,136,128	$ 1,443,423
Less: Accumulated Depreciation - Net	(627,119)	(667,096)
Fixed assets held under finance leases, Total	509,009	776,327
Computers and Other Equipment [Member]
Capital Leased Assets [Line Items]
Fixed assets held under finance leases, Total	169,487	328,621
Furniture and Fixtures [Member]
Capital Leased Assets [Line Items]
Fixed assets held under finance leases, Total	57,509	51,119
Vehicles [Member]
Capital Leased Assets [Line Items]
Fixed assets held under finance leases, Total	$ 909,132	$ 1,063,683

Property and Equipment - Sche_2

Property and Equipment - Schedule of Finance Lease Term (Details)	Jun. 30, 2021	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
Weighted average remaining lease term - Finance leases	6 months 18 days	1 year 4 months 17 days
Weighted average discount rate - Finance leases	5.60%	11.70%

Leases (Details Narrative)

Leases (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Lease Agreement [Member]
Operating lease termination, description	The Company is a lessor for certain office space leased by the Company and sub-leased to others under non-cancelable leases. These lease agreements provide for a fixed base rent and terminate by July 2021. All leases are considered operating leases. There are no rights to purchase the premises and no residual value guarantees.
Operating lease income	$ 35,740	$ 33,426
Minimum [Member]
Finance lease term	1 year
Operating lease term	1 year
Maximum [Member]
Finance lease term	10 years
Operating lease term	10 years

Leases - Schedule of Balance Sh

Leases - Schedule of Balance Sheet Information Related to Leases (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Operating lease assets, net	$ 1,345,869	$ 2,360,129
Operating lease liability, Current	857,729	1,111,912
Operating lease liability, Non-current	564,257	1,339,965
Lease Liabilities [Member]
Operating lease assets, net	1,345,869	2,360,129
Operating lease liability, Current	857,729	1,111,912
Operating lease liability, Non-current	564,257	1,339,965
Total Lease Liabilities	$ 1,421,986	$ 2,451,877

Leases - Schedule of Components

Leases - Schedule of Components of Lease Cost (Details) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Amortization of finance lease assets	$ 186,721	$ 253,071
Interest on finance lease obligation	32,675	81,907
Operating lease cost	1,271,947	1,258,102
Short term lease cost	91,705	282,806
Sub lease income	(35,740)	(33,426)
Total lease cost	$ 1,547,308	$ 1,842,460

Leases - Schedule of Lease Term

Leases - Schedule of Lease Term and Discount Rate (Details)	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Weighted average remaining lease term - Operating leases	1 year 9 months 11 days	2 years 5 months 12 days
Weighted average discount rate - Operating leases	5.70%	5.60%

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Disclosures of Cash Flow Information Related to Leases (Details) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Operating cash flows related to operating leases	$ 1,182,028	$ 1,263,089
Operating cash flows related from finance leases	25,338	72,999
Financing cash flows from finance leases	$ 334,939	$ 324,723

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Operating Lease Liabilities (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Less: Current portion	$ (857,729)	$ (1,111,912)
Non-Current portion	564,257	1,339,965
Lease Liabilities [Member]
Within year 1	911,760
Within year 2	496,700
Within year 3	82,282
Within year 4	835
Within year 5	835
Thereafter	2,505
Total Lease Payments	1,494,917
Less: Imputed interest	(72,931)
Present Value of lease liabilities	1,421,986	2,451,877
Less: Current portion	(857,729)	(1,111,912)
Non-Current portion	$ 564,257	$ 1,339,965

Long Term Investment (Details N

Long Term Investment (Details Narrative) - USD ($)	Jun. 30, 2021	Apr. 25, 2019	Sep. 02, 2017	Mar. 02, 2017	Jun. 30, 2021	Jun. 30, 2020
Share of net income loss from equity investment					$ (253,819)	$ (605,864)
Payments to acquire investment					$ 155,500	94,500
WRLD3D [Member]
Payments for financial interest				$ 1,111,111
Payments to acquire investment			$ 555,555	$ 555,556
NTI [Member] | Series BB Preferred Stock [Member]
Series BB preferred stock					1,636,876
NTPK [Member] | Series BB Preferred Stock [Member]
Series BB preferred stock					4,092,189
WRLD3D [Member]
Percentage of interest in subsidiary				4.90%
NetSol PK [Member]
Revenue from services					$ 48,775	300,821
Share of net income loss from equity investment					233,818	589,150
Payments to acquire investment			$ 2,777,778
Purchase of investment, percentage			12.20%
Accounts receivable						1,373,099
Revenues in excess of billings - related party						8,163
Drivemate Agreement [Member] | Drivemate Co., Ltd. [Member]
Revenue from services					18,006	1,054,372
Share of net income loss from equity investment					$ 20,001	$ 16,714
Drivemate Agreement [Member] | Drivemate Co., Ltd. [Member] | Four Directors [Member]
Equity interest, percentage	30.00%				30.00%
Debt description					Pursuant to the agreement, the number of shares to be issued is adjusted as necessary to result in an equity ownership equal to 30% of the issued and outstanding shares at the final payment date. As of June 30, 2021, the Company has been issued 8,178 shares equal to 30.0% of Drivemate. Per the Drivemate Agreement, the Company appointed two directors to the Drivemate board. The Company determined that it met the significant influence criteria since two of the four directors are appointed by the Company and the Company owns 30% of Drivemate; therefore, the Company accounts for the investment using the equity method of accounting.
Drivemate Agreement [Member] | Drivemate Co., Ltd. [Member]
Equity interest, percentage		30.00%
Number of shares purchased		5,469
Number of shares purchased, value		$ 1,800,000
Drivemate Agreement [Member] | Drivemate Co., Ltd. [Member] | Two Directors [Member]
Number of shares purchased	8,178
Drivemate Agreement [Member] | Drivemate Co., Ltd. [Member] | Services [Member]
Number of shares purchased, value		1,300,000
Drivemate Agreement [Member] | Drivemate Co., Ltd. [Member] | Services [Member] | Payment [Member]
Number of shares purchased, value		1,300,000
Drivemate Agreement [Member] | Drivemate Co., Ltd. [Member] | Cash [Member]
Number of shares purchased, value		500,000
Drivemate Agreement [Member] | Drivemate Co., Ltd. [Member] | Cash [Member] | Payment [Member]
Number of shares purchased, value		$ 500,000

Long Term Investment - Schedule

Long Term Investment - Schedule of Long Term Investment (Details)	12 Months Ended
	Jun. 30, 2021USD ($)
Gross investment	$ 5,688,889
Cumulative net loss on investment	(1,962,987)
Cumulative other comprehensive income (loss)	(570,050)
Net investment	3,155,852
Drivemate Co., Ltd. [Member]
Gross investment	1,800,000
Cumulative net loss on investment	(38,853)
Cumulative other comprehensive income (loss)
Net investment	1,761,147
WRLD3D, Inc. [Member]
Gross investment	3,888,889
Cumulative net loss on investment	(1,924,134)
Cumulative other comprehensive income (loss)	(570,050)
Net investment	$ 1,394,705

Intangible Assets (Details Narr

Intangible Assets (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Intangible assets, net	$ 3,904,656	$ 5,391,077
Product Licenses [Member]
Intangible assets, net	$ 3,904,656
Finite-lived intangible assets, amortization over period	2 years 2 months 30 days
Amortization expenses of intangible assets	$ 1,807,736	$ 1,828,314

Intangible Assets - Schedule of

Intangible Assets - Schedule of Intangible Assets (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Product Licenses - Cost	$ 47,244,997	$ 47,244,997
Effect of Translation Adjustment	(14,440,001)	(16,045,322)
Accumulated Amortization	(28,900,340)	(25,808,598)
Net Balance	$ 3,904,656	$ 5,391,077

Intangible Assets - Summary of

Intangible Assets - Summary of Estimated Amortization Expense of Intangible Assets (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
June 30, 2022	$ 1,839,736
June 30, 2023	1,839,736
June 30, 2024	225,184
Net Balance	$ 3,904,656	$ 5,391,077

Goodwill - Summary of Goodwill

Goodwill - Summary of Goodwill Acquired (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Goodwill	$ 9,516,568	$ 9,516,568
NetSol PK Asia - Pacific [Member]
Goodwill	1,166,610	1,166,610
NTE Europe [Member]
Goodwill	3,471,814	3,471,814
VLS [Member]
Goodwill	214,044	214,044
NTA North America [Member]
Goodwill	$ 4,664,100	$ 4,664,100

Accounts Payable and Accrued _3

Accounts Payable and Accrued Expenses - Schedule of Accounts Payable and Accrued Expenses (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Payables and Accruals [Abstract]
Accounts Payable	$ 1,067,937	$ 1,351,158
Accrued Liabilities	4,512,499	3,349,624
Accrued Payroll & Taxes	228,028	537,888
Taxes Payable	608,121	303,996
Other Payable	279,450	138,171
Total	$ 6,696,035	$ 5,769,161

Debts - Schedule of Components

Debts - Schedule of Components of Notes Payable and Capital Leases (Details) - USD ($)		Jun. 30, 2021	Jun. 30, 2020
Total		$ 11,897,905	$ 10,210,130
Current Maturities		11,246,678	8,847,487
Long-Term Maturities		651,227	1,362,643
Subsidiary Finance Leases, Total	[1]	168,107	469,406
Subsidiary Finance Leases, Current Maturities	[1]	119,493	292,074
Subsidiary Finance Leases, Long-Term Maturities	[1]	48,614	177,332
Total		12,066,012	10,679,536
Current Maturities		11,366,171	9,139,561
Long-Term Maturities		699,841	1,539,975
D&O Insurance [Member]
Total	[2]	73,143	81,728
Current Maturities	[2]	73,143	81,728
Long-Term Maturities	[2]
Paycheck Protection Program Loans [Member]
Total	[3]		469,721
Current Maturities	[3]		182,669
Long-Term Maturities	[3]		287,052
Bank Overdraft Facility [Member]
Total	[4]
Current Maturities	[4]
Long-Term Maturities	[4]
Term Finance Facility [Member]
Total	[5]	1,648,818	1,380,878
Current Maturities	[5]	1,090,259	354,337
Long-Term Maturities	[5]	558,559	1,026,541
Loan Payable Bank - Export Refinance [Member]
Total	[6]	3,162,555	2,975,482
Current Maturities	[6]	3,162,555	2,975,482
Long-Term Maturities	[6]
Loan Payable Bank - Running Finance [Member]
Total	[7]
Current Maturities	[7]
Long-Term Maturities	[7]
Loan Payable Bank - Export Refinance II [Member]
Total	[8]	2,403,542	2,261,365
Current Maturities	[8]	2,403,542	2,261,365
Long-Term Maturities	[8]
Loan Payable Bank - Running Finance II [Member]
Total	[9]
Current Maturities	[9]
Long-Term Maturities	[9]
Loan Payable Bank - Export Refinance lll [Member]
Total	[10]	4,427,578	2,975,483
Current Maturities	[10]	4,427,578	2,975,483
Long-Term Maturities	[10]
Sale and Leaseback Financing [Member]
Total	[11]	85,313
Current Maturities	[11]	28,183
Long-Term Maturities	[11]	57,130
Term Finance Facility [Member]
Total	[12]	55,182	65,473
Current Maturities	[12]	19,644	16,423
Long-Term Maturities	[12]	35,538	49,050
Insurance Financing [Member]
Total	[13]	41,774
Current Maturities	[13]	41,774
Long-Term Maturities	[13]
[1]	The Company leases various fixed assets under capital lease arrangements expiring in various years through 2024. The assets and liabilities under capital leases are recorded at the lower of the present value of the minimum lease payments or the fair value of the asset. The assets are secured by the assets themselves. Depreciation of assets under capital leases is included in depreciation expense for the years ended June 30, 2021 and 2020.
[2]	The Company finances Directors' and Officers' ("D&O") liability insurance and Errors and Omissions ("E&O") liability insurance, for which the D&O and E&O balances are renewed on an annual basis and, as such, are recorded in current maturities. The interest rate on these financings range from 5.0% to 7.0% as of June 30, 2021 and 2020, respectively.
[3]	The Company and its subsidiary, NTA, received Paycheck Protection Program loans of $469,721 introduced by the U.S. Government during the COVID-19 Pandemic. The loans carry an interest rate of 1% and have a maturity date of two years from the date of the disbursement of the loan. This loan is forgivable if the Company meets the criteria set by the U.S. Government. During the year ended June 30, 2021, the Company applied for the loan forgiveness, which was approved by the U.S. Government.
[4]	The Company's subsidiary, NTE, has an overdraft facility with HSBC Bank plc whereby the bank would cover any overdrafts up to £300,000, or approximately $416,667. The annual interest rate was 5.1% as of June 30, 2021 and 2020. Total outstanding balance as of June 30, 2021 and 2020 was £nil. This overdraft facility requires that the aggregate amount of invoiced trade debtors (net of provisions for bad and doubtful debts and excluding intra-group debtors) of NTE, not exceeding 90 days old, will not be less than an amount equal to 200% of the facility. As of June 30, 2021, NTE was in compliance with this covenant.
[5]	The Company's subsidiary, NetSol PK, has a term finance facility from Askari Bank Limited, approved by the Government of Pakistan to protect the employment situation during the COVID-19 Pandemic. This is a term loan payable in three years. The availed facility amount is Rs. 260,678,180 or $1,648,818, at June 30, 2021, of which $1,090,259 is shown as current and the remaining $558,559 is shown as long term. The availed facility amount is Rs. 232,042,664 or $1,380,878, at June 30, 2020, of which $354,337 is shown as current and the remaining $1,026,541 is shown as long term. The interest rate for the loan was 3% at June 30, 2021 and 2020.
[6]	The Company's subsidiary, NetSol PK, has an export refinance facility with Askari Bank Limited, secured by NetSol PK's assets. This is a revolving loan that matures every six months. Total facility amount is Rs. 500,000,000 or $3,162,555 and Rs. 500,000,000 or $2,975,482 at June 30, 2021 and 2020, respectively. The interest rate for the loan was 3% at June 30, 2021 and 2020.
[7]	The Company's subsidiary, NetSol PK, has a running finance facility with Askari Bank Limited, secured by NetSol PK's assets. Total facility amount is Rs. 75,000,000 or $474,383 and Rs. 75,000,000 or $446,322, at June 30, 2021 and 2020, respectively. The balance outstanding at June 30, 2021 and 2020 was Rs. Nil. The interest rate for the loan was 9.5% and 7.2% at June 30, 2021 and 2020, respectively. These facilities require NetSol PK to maintain a long-term debt equity ratio of 60:40 and the current ratio of 1:1. As of June 30, 2021, NetSol PK was in compliance with this covenant.
[8]	The Company's subsidiary, NetSol PK, has an export refinance facility with Samba Bank Limited, secured by NetSol PK's assets. This is a revolving loan that matures every six months. Total facility amount is Rs. 380,000,000 or $2,403,542 and Rs. 380,000,000 or $2,261,365, at June 30, 2021 and 2020, respectively. The interest rate for the loan was 3% at June 30, 2021 and 2020.
[9]	The Company's subsidiary, NetSol PK, has a running finance facility with Samba Bank Limited, secured by NetSol PK's assets. Total facility amount is Rs. 120,000,000 or $759,013 and Rs. 120,000,000 or $714,116, at June 30, 2021 and 2020, respectively. The interest rate for the loan was 9.0% and 7.7% at June 30, 2021 and 2020, respectively. Total outstanding balance at June 30, 2021 and 2020 was $nil. During the loan tenure, the facilities from Samba Bank Limited require NetSol PK to maintain at a minimum a current ratio of 1:1, an interest coverage ratio of 4 times, a leverage ratio of 2 times, and a debt service coverage ratio of 4 times. As of June 30, 2021, NetSol PK was in compliance with these covenants.
[10]	The Company's subsidiary, NetSol PK, has an export refinance facility with Habib Metro Bank Limited, secured by NetSol PK's assets. This is a revolving loan that matures every nine months. Total facility amount is Rs. 900,000,000 or $5,692,600 and Rs. 900,000,000 or $5,355,868, at June 30, 2021 and 2020, respectively. NetSol PK used Rs. 700,000,000 or $4,427,578 and Rs. 500,000,000 or $2,975,482, at June 30, 2021 and 2020, respectively. The interest rate for the loan was 3% at June 30, 2021 and 2020.
[11]	The Company's subsidiary, NetSol PK, availed sale and leaseback financing from First Habib Modaraba secured by the transfer of the vehicles title. As of June 30, 2021, NetSol PK used Rs. 13,487,949 or $85,313 of which $57,130 was shown as long term and $28,183 as current. The interest rate for the loan was 9.0% at June 30, 2021.
[12]	In March 2020, the Company's subsidiary, VLS, entered into a loan agreement with Investec Bank PLC. The loan amount was £69,549, or $96,596, for a period of 5 years with monthly payments of £1,349, or $1,874. As of June 30, 2021, the subsidiary has used this facility up to $55,182, of which $35,538 was shown as long-term and $19,644 as current. The interest rate was 6.14% at June 30, 2021.
[13]	The Company's subsidiary, VLS, finances Directors' and Officers' ("D&O") liability insurance, and the $41,774 is recorded in current maturities. The interest rate on this financing was 4.5% as of June 30, 2021.

Debts - Schedule of Component_2

Debts - Schedule of Components of Notes Payable and Capital Leases (Details) (Parenthetical)	Mar. 31, 2020USD ($)	Mar. 31, 2020GBP (£)	Jun. 30, 2021USD ($)	Jun. 30, 2021GBP (£)	Jun. 30, 2021INR (₨)	Jun. 30, 2020USD ($)	Jun. 30, 2020INR (₨)	Mar. 30, 2020GBP (£)	Aug. 19, 2019	Apr. 02, 2019	Feb. 09, 2018	May 25, 2017
Debt instrument, interest rate									10.00%	10.00%	10.00%	5.00%
Long term liabilities			$ 1,789,313
HSBC Bank [Member] | NetSol PK Asia - Pacific [Member]
Debt instrument, interest rate			5.10%	5.10%	5.10%	5.10%	5.10%
Line of credit facility, maximum borrowing capacity			$ 416,667
Line of credit variable interest rate			200.00%
HSBC Bank [Member] | NetSol PK Asia - Pacific [Member] | GBP [Member]
Line of credit facility, maximum borrowing capacity | £				£ 300,000
Line of credit
Askari Bank Limited [Member] | NetSol PK [Member]
Debt instrument, interest rate			3.00%	3.00%	3.00%	3.00%	3.00%
Line of credit facility, maximum borrowing capacity			$ 3,162,555			$ 2,975,482
Askari Bank Limited [Member] | NetSol PK [Member] | Refinance Facility [Member]
Debt instrument, interest rate			3.00%	3.00%	3.00%	3.00%	3.00%
Line of credit facility, maximum borrowing capacity			$ 1,648,818			$ 1,380,878
Line of credit, current			1,090,259			354,337
Line of credit, long term			$ 558,559			$ 1,026,541
Askari Bank Limited [Member] | NetSol PK [Member] | Running Finance Facility [Member]
Debt instrument, interest rate			9.50%	9.50%	9.50%	7.20%	7.20%
Line of credit facility, maximum borrowing capacity			$ 474,383			$ 446,322
Line of credit
Long term debt covenant description			These facilities require NetSol PK to maintain a long-term debt equity ratio of 60:40 and the current ratio of 1:1.
Askari Bank Limited [Member] | NetSol PK [Member] | INR [Member]
Line of credit facility, maximum borrowing capacity | ₨					₨ 500,000,000		₨ 500,000,000
Askari Bank Limited [Member] | NetSol PK [Member] | INR [Member] | Refinance Facility [Member]
Line of credit facility, maximum borrowing capacity | ₨					260,678,180		232,042,664
Askari Bank Limited [Member] | NetSol PK [Member] | INR [Member] | Running Finance Facility [Member]
Line of credit facility, maximum borrowing capacity | ₨					₨ 75,000,000		₨ 75,000,000
Samba Bank Limited [Member] | NetSol PK [Member] | Refinance Facility [Member]
Debt instrument, interest rate			3.00%	3.00%	3.00%	3.00%	3.00%
Line of credit facility, maximum borrowing capacity			$ 2,403,542			$ 2,261,365
Samba Bank Limited [Member] | NetSol PK [Member] | Running Finance Facility [Member]
Debt instrument, interest rate			9.00%	9.00%	9.00%	7.70%	7.70%
Line of credit facility, maximum borrowing capacity			$ 759,013			$ 714,116
Line of credit
Long term debt covenant description			During the loan tenure, the facilities from Samba Bank Limited require NetSol PK to maintain at a minimum a current ratio of 1:1, an interest coverage ratio of 4 times, a leverage ratio of 2 times, and a debt service coverage ratio of 4 times. As of June 30, 2021, NetSol PK was in compliance with these covenants.
Samba Bank Limited [Member] | NetSol PK [Member] | INR [Member] | Refinance Facility [Member]
Line of credit facility, maximum borrowing capacity | ₨					₨ 380,000,000		₨ 380,000,000
Samba Bank Limited [Member] | NetSol PK [Member] | INR [Member] | Running Finance Facility [Member]
Line of credit facility, maximum borrowing capacity | ₨					₨ 120,000,000		₨ 120,000,000
Habib Metro Bank Limited [Member] | Running Finance Facility [Member]
Debt instrument, interest rate			3.00%	3.00%	3.00%	3.00%	3.00%
Line of credit facility, maximum borrowing capacity			$ 5,692,600			$ 5,355,868
Habib Metro Bank Limited [Member] | INR [Member] | Running Finance Facility [Member]
Line of credit facility, maximum borrowing capacity					₨ 900,000,000	$ 900,000,000
Habib Metro Bank Limited [Member] | NetSol PK [Member] | Running Finance Facility [Member]
Debt instrument, interest rate			3.00%	3.00%	3.00%	3.00%	3.00%
Line of credit facility, maximum borrowing capacity			$ 4,427,578			$ 2,975,482
Habib Metro Bank Limited [Member] | NetSol PK [Member] | Sale and Leaseback Financing [Member]
Line of credit facility, maximum borrowing capacity			$ 85,313
Habib Metro Bank Limited [Member] | NetSol PK [Member] | INR [Member] | Running Finance Facility [Member]
Line of credit facility, maximum borrowing capacity | ₨					₨ 700,000,000		₨ 500,000,000
Habib Metro Bank Limited [Member] | NetSol PK [Member] | INR [Member] | Sale and Leaseback Financing [Member]
Debt instrument, interest rate			9.00%	9.00%	9.00%
Line of credit facility, maximum borrowing capacity | ₨					₨ 13,487,949
Line of credit, current			$ 28,183
Line of credit, long term			57,130
Paycheck Protection Program [Member]
Proceeds from loan			$ 469,721
Debt instrument, interest rate			1.00%	1.00%	1.00%
Loan Agreement [Member] | Virtual Lease Services Limited [Member]
Debt instrument, interest rate			6.14%	6.14%	6.14%
Line of credit facility, maximum borrowing capacity			$ 55,182
Line of credit, current			19,644
Long term liabilities			$ 35,538
Loan Agreement [Member] | Virtual Lease Services Limited [Member] | Investec Asset Finance [Member]
Line of credit	$ 96,596
Line of credit, term	5 years
Line of credit monthly payments	$ 1,874
Loan Agreement [Member] | Virtual Lease Services Limited [Member] | GBP [Member] | Investec Asset Finance [Member]
Line of credit | £								£ 69,549
Line of credit monthly payments | £		£ 1,349
Insurance Financing [Member] | Virtual Lease Services Limited [Member] | Directors and Officers [Member]
Debt instrument, interest rate			4.50%	4.50%	4.50%
Line of credit, current			$ 41,774
Directors and Officers Errors and Omissions Liability Insurance [Member] | Minimum [Member]
Line of credit facility interest rate			5.00%	5.00%	5.00%	5.00%	5.00%
Directors and Officers Errors and Omissions Liability Insurance [Member] | Maximum [Member]
Line of credit facility interest rate			7.00%	7.00%	7.00%	7.00%	7.00%

Debts - Schedule of Aggregate M

Debts - Schedule of Aggregate Minimum Future Lease Payments Under Capital Leases (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Present Value of minimum lease payments	$ 12,066,012	$ 10,679,536
Less: Current portion	(11,366,171)	(9,139,561)
Non-Current portion	699,841	$ 1,539,975
Lease Liabilities [Member]
Within year 1	126,586
Within year 2	31,386
Within year 3	20,170
Total Minimum Lease Payments	178,142
Interest Expense relating to future periods	(10,035)
Present Value of minimum lease payments	168,107
Less: Current portion	(119,493)
Non-Current portion	$ 48,614

Debts - Schedule of Aggregate F

Debts - Schedule of Aggregate Future Long Term Debt Payments (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Debt Disclosure [Abstract]
Within year 1	$ 1,138,086
Within year 2	610,253
Within year 3	40,974
Total Loan Payments	1,789,313
Less: Current portion	(1,138,086)
Non-Current portion	$ 651,227	$ 1,362,643

Income Taxes (Details Narrative

Income Taxes (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Increase in valuation allowance	$ 129,758
Operating loss carryforward expiration date	Expire in 2028
Net operating loss	$ 2,720,849	$ 1,070,338
Unrecognized tax benefits related to various federal and state income tax matters
Undistributed earnings of foreign subsidiaries	33,349,743
Aggregate effect of income tax holiday	$ 202,918	$ 47,477
Income tax basic and diluted earnings per share	$ 0.018	$ 0.004
Foreign Entities [Member]
Net operating loss	$ 3,506,583
US [Member] | Federal [Member]
Operating loss carryforwards	28,678,045
US [Member] | State [Member]
Operating loss carryforwards	$ 7,935,883

Income Taxes - Schedule of Cons

Income Taxes - Schedule of Consolidated Pre-Tax Income (Loss) (Details) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
US operations	$ 1,944,974	$ 417,885
Foreign operations	1,343,275	1,915,206
Net income before income taxes	$ 3,288,249	$ 2,333,091

Income Taxes - Components of Pr

Income Taxes - Components of Provision for Income Taxes (Details) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Current: Federal
Current: State and Local	113,152	2,275
Current: Foreign	912,663	1,138,793
Deferred: Federal
Deferred: State and Local	802
Deferred: Foreign
Provision for income taxes	$ 1,026,617	$ 1,141,068

Income Taxes - Schedule of Reco

Income Taxes - Schedule of Reconciliation of Taxes at Statutory Federal Income Tax Rate Income Tax Expense Benefits (Details) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income tax (benefit) provision at statutory rate	$ 690,532	$ 489,949
State income (benefit) taxes, net of federal tax benefit	229,520	162,850
Foreign earnings taxed at different rates	72,358	602,918
Change in valuation allowance for deferred tax assets	129,758	(120,739)
Other	(95,551)	6,090
Provision for income taxes	$ 1,026,617	$ 1,141,068
Income tax (benefit) provision at statutory rate, percentage	21.00%	21.00%
State income (benefit) taxes, net of federal tax benefit, percentage	7.00%	7.00%
Foreign earnings taxed at different rates, percentage	2.20%	25.80%
Change in valuation allowance for deferred tax assets, percentage	4.00%	(5.20%)
Other, percentage	(2.90%)	0.30%
Provision for income taxes, percentage	31.20%	48.90%

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Income Tax Assets and Liabilities (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Net operating loss carry forwards	$ 7,483,618	$ 7,318,282
Other	79,675	115,253
Net deferred tax assets	7,563,293	7,433,535
Valuation allowance for deferred tax assets	(7,563,293)	(7,433,535)
Net deferred tax assets

Stockholders' Equity (Details N

Stockholders' Equity (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Issuance of common stock value for services	$ 341,666	$ 990,450
Shares of Common Stock from Open Market [Member]
Issuance of common stock shares under employment agreement	669,018
Issuance of common stock value under employment agreement	$ 2,364,781
Share issuance, price per share	$ 3.53
Officers [Member]
Issuance of common stock shares for services	20,353	55,044
Issuance of common stock value for services	$ 118,316	$ 312,090
Independent Members [Member]
Issuance of common stock shares for services	1,983	73,667
Issuance of common stock value for services	$ 11,997	$ 261,622
Employees [Member]
Issuance of common stock	37,100	81,696
Issuance of common stock, value	$ 211,353	$ 416,738

Incentive and Non-Statutory S_3

Incentive and Non-Statutory Stock Option Plan (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Compensation expense	$ 342,153	$ 808,616
2022 [Member]
Compensation expense related to unvested options yet to be recognized	$ 31,455
Incentive and Non-Statutory Stock Option Plans [Member]
Stock options granted expiration period	10 years
Percentage of outstanding common stock	10.00%
Incentive and Non-Statutory Stock Option Plans [Member] | Maximum [Member]
Number of shares granted	50,000
Percentage of fair market value of shares of common stock grant	110.00%
Incentive and Non-Statutory Stock Option Plans [Member] | Employees and Consultants [Member]
Stock options granted exercisable over a period	10 years
Stock options granted exercisable percentage	20.00%
Stock options granted expiration period	1 year
2005 Plan [Member]
Number of shares granted	20,386
2013 Plan [Member]
Number of shares granted	98,196
2015 Plan [Member]
Number of shares granted	306,422

Incentive and Non-Statutory S_4

Incentive and Non-Statutory Stock Option Plan - Summary of Unvested Stock Grants Awarded as Compensation (Details) - $ / shares	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
Number of shares, Unvested beginning balance	66,421	81,515
Number of shares, Granted		200,273
Number of shares, Vested	(59,436)	(210,408)
Number of shares, Forfeited / Cancelled		(4,959)
Number of shares, Unvested ending balance	6,985	66,421
Weighted Average Grant Date Fair Value, Unvested beginning balance	$ 5.75	$ 5.88
Weighted Average Grant Date Fair Value, Granted		4.61
Weighted Average Grant Date Fair Value, Vested	5.75	4.71
Weighted Average Grant Date Fair Value, Forfeited / Cancelled		6.05
Weighted Average Grant Date Fair Value, Unvested ending balance	$ 5.79	$ 5.75

Retirement Plans (Details Narra

Retirement Plans (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Employer contributions	$ 1,237,677	$ 1,135,233
Minimum [Member]
Employer contributions, percentage	0.00%
Maximum [Member]
Employer contributions, percentage	8.00%

Segment Information and Geogr_3

Segment Information and Geographic Areas (Details Narrative)	12 Months Ended
	Jun. 30, 2021Number
Segment Reporting [Abstract]
Number of operating segments	3

Segment Information and Geogr_4

Segment Information and Geographic Areas - Summary of Identifiable Assets (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Identifiable assets	$ 86,606,261	$ 88,473,089
Corporate Headquarters [Member]
Identifiable assets	2,067,474	4,508,724
North America [Member]
Identifiable assets	6,073,616	5,949,653
Europe [Member]
Identifiable assets	10,363,611	10,856,814
Asia - Pacific [Member]
Identifiable assets	$ 68,101,560	$ 67,157,898

Segment Information and Geogr_5

Segment Information and Geographic Areas - Summary of Investment Under Equity Method (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Equity method investments	$ 3,155,852	$ 5,688,889
Corporate Headquarters [Member]
Equity method investments	396,403	473,692
Asia - Pacific [Member]
Equity method investments	$ 2,759,449	$ 1,914,000

Segment Information and Geogr_6

Segment Information and Geographic Areas - Summary of Operating Information (Details) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Revenues	$ 54,920,615	$ 56,372,319
Net income (loss) after taxes and before non-controlling interest	2,261,632	1,192,023
Depreciation and amortization	3,956,314	3,731,954
Interest expense	394,289	346,856
Income tax expense	1,026,617	1,141,068
Intercompany Revenue [Member]
Revenues	12,227,460	7,630,890
North America [Member]
Net income (loss) after taxes and before non-controlling interest	(161,198)	(241,444)
Depreciation and amortization	4,310	11,828
Interest expense
Income tax expense	44,604	1,200
Europe [Member]
Net income (loss) after taxes and before non-controlling interest	(74,146)	1,766,434
Depreciation and amortization	465,825	353,862
Interest expense	11,426	9,905
Income tax expense	190,730	326,524
Europe [Member] | Intercompany Revenue [Member]
Revenues	549,031	585,250
Asia - Pacific [Member]
Net income (loss) after taxes and before non-controlling interest	504,758	75,049
Depreciation and amortization	3,486,179	3,366,264
Interest expense	365,445	303,241
Income tax expense	721,933	812,269
Asia - Pacific [Member] | Intercompany Revenue [Member]
Revenues	11,678,429	7,045,640
Corporate Headquarters [Member]
Net income (loss) after taxes and before non-controlling interest	1,992,218	(408,016)
Depreciation and amortization
Interest expense	17,418	33,710
Income tax expense	69,350	1,075
Unaffiliated Customers [Member]
Revenues	54,871,840	56,071,498
Unaffiliated Customers [Member] | North America [Member]
Revenues	3,724,547	4,444,862
Unaffiliated Customers [Member] | Europe [Member]
Revenues	11,283,499	11,914,071
Unaffiliated Customers [Member] | Asia - Pacific [Member]
Revenues	39,863,794	39,712,565
Affiliated Customers [Member]
Revenues	48,775	300,821
Affiliated Customers [Member] | Asia - Pacific [Member]
Revenues	$ 48,775	$ 300,821

Segment Information and Geogr_7

Segment Information and Geographic Areas - Summary of Capital Expenditures (Details) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Capital expenditures	$ 2,551,283	$ 1,377,145
North America [Member]
Capital expenditures	1,521	3,904
Europe [Member]
Capital expenditures	441,672	763,308
Asia - Pacific [Member]
Capital expenditures	$ 2,108,090	$ 609,933

Segment Information and Geogr_8

Segment Information and Geographic Areas - Schedule of Geographic Information (Details) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Revenues	$ 54,920,615	$ 56,372,319
Long-Lived Assets	31,027,487	32,327,378
China [Member]
Revenues	22,716,598	20,065,572
Long-Lived Assets	509,935	843,694
Thailand [Member]
Revenues	4,518,145	3,807,648
Long-Lived Assets	2,033,628	900,514
US [Member]
Revenues	2,691,811	3,457,676
Long-Lived Assets	5,440,078	5,689,067
UK [Member]
Revenues	11,283,500	12,275,903
Long-Lived Assets	5,217,594	5,528,801
Pakistan & India [Member]
Revenues	1,478,071	2,008,910
Long-Lived Assets	17,618,325	19,103,687
Australia & New Zealand [Member]
Revenues	4,771,216	3,149,715
Long-Lived Assets	207,927	261,615
Mexico [Member]
Revenues	1,032,736	987,190
Long-Lived Assets
Indonesia [Member]
Revenues	3,221,342	5,611,454
Long-Lived Assets
South Africa [Member]
Revenues	924,316	496,480
Long-Lived Assets
Other Countries [Member]
Revenues	2,282,880	4,511,774
Long-Lived Assets

Segment Information and Geogr_9

Segment Information and Geographic Areas - Schedule of Reconciliation of Revenue (Details) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Revenues	$ 54,920,615	$ 56,372,319
North America [Member]
Revenues	3,724,547	4,444,863
Europe [Member]
Revenues	11,283,500	11,914,070
Asia - Pacific [Member]
Revenues	39,912,568	40,013,386
China [Member]
Revenues	22,716,598	20,065,572
China [Member] | North America [Member]
Revenues
China [Member] | Europe [Member]
Revenues
China [Member] | Asia - Pacific [Member]
Revenues	22,716,598	20,065,572
Thailand [Member]
Revenues	4,518,145	3,807,648
Thailand [Member] | North America [Member]
Revenues
Thailand [Member] | Europe [Member]
Revenues
Thailand [Member] | Asia - Pacific [Member]
Revenues	4,518,145	3,807,648
US [Member]
Revenues	2,691,811	3,457,676
US [Member] | North America [Member]
Revenues	2,691,811	3,457,673
US [Member] | Europe [Member]
Revenues
US [Member] | Asia - Pacific [Member]
Revenues
UK [Member]
Revenues	11,283,500	12,275,903
UK [Member] | North America [Member]
Revenues
UK [Member] | Europe [Member]
Revenues	11,283,500	11,914,070
UK [Member] | Asia - Pacific [Member]
Revenues		361,833
Pakistan & India [Member]
Revenues	1,478,071	2,008,910
Pakistan & India [Member] | North America [Member]
Revenues
Pakistan & India [Member] | Europe [Member]
Revenues
Pakistan & India [Member] | Asia - Pacific [Member]
Revenues	1,478,071	2,008,910
Australia & New Zealand [Member]
Revenues	4,771,216	3,149,715
Australia & New Zealand [Member] | North America [Member]
Revenues
Australia & New Zealand [Member] | Europe [Member]
Revenues
Australia & New Zealand [Member] | Asia - Pacific [Member]
Revenues	4,771,216	3,149,715
Mexico [Member]
Revenues	1,032,736	987,190
Mexico [Member] | North America [Member]
Revenues	1,032,736	987,190
Mexico [Member] | Europe [Member]
Revenues
Mexico [Member] | Asia - Pacific [Member]
Revenues
Indonesia [Member]
Revenues	3,221,342	5,611,454
Indonesia [Member] | North America [Member]
Revenues
Indonesia [Member] | Europe [Member]
Revenues
Indonesia [Member] | Asia - Pacific [Member]
Revenues	3,221,342	5,611,454
South Africa [Member]
Revenues	924,316	496,480
South Africa [Member] | North America [Member]
Revenues
South Africa [Member] | Europe [Member]
Revenues
South Africa [Member] | Asia - Pacific [Member]
Revenues	924,316	496,480
Other Countries [Member]
Revenues	2,282,880	4,511,774
Other Countries [Member] | North America [Member]
Revenues
Other Countries [Member] | Europe [Member]
Revenues
Other Countries [Member] | Asia - Pacific [Member]
Revenues	$ 2,282,880	$ 4,511,774

Non-Controlling Interest in S_3

Non-Controlling Interest in Subsidiary (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Proceeds from stock option exercised		$ 11,621
NetSol PK [Member]
Exercise of common stock options, shares		114,000
Proceeds from stock option exercised		$ 11,261
Non-controlling interest, percentage		33.88%	33.80%
Cash dividend		$ 1,610,909
NetSol Innovation [Member]
Non-controlling interest, percentage		33.88%	49.90%
Cash dividend		$ 2,778,453
Number of shares purchased, value		$ 89,425

Non-Controlling Interest in S_4

Non-Controlling Interest in Subsidiary - Schedule of Balance of Non-Controlling Interest (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Non-Controlling Interest	$ 7,215,473	$ 6,488,900
NetSol PK [Member]
Non-Controlling Interest, Percentage	33.88%	33.88%
Non-Controlling Interest	$ 7,101,883	$ 6,361,747
NetSol Innovation [Member]
Non-Controlling Interest, Percentage	33.88%	33.88%
Non-Controlling Interest	$ 136,611	$ 128,514
NetSol Thai [Member]
Non-Controlling Interest, Percentage	0.006%	0.006%
Non-Controlling Interest	$ (208)	$ (39)
OTOZ Thai [Member]
Non-Controlling Interest, Percentage	0.006%	0.006%
Non-Controlling Interest	$ (52)	$ 4
OTOZ [Member]
Non-Controlling Interest, Percentage	5.00%	5.00%
Non-Controlling Interest	$ (22,761)	$ (1,326)

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - Subsequent Event [Member]	3 Months Ended
	Sep. 23, 2021USD ($)shares
Stock repurchase, shares | shares	22,510
Stock repurchased, value | $	$ 100,106