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Property and Equipment | 6 Months Ended
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Dec. 31, 2019
Property, Plant and Equipment [Abstract] |
Property and Equipment | NOTE 11 - PROPERTY AND EQUIPMENT Property and equipment consisted of the following:
|  | As of |  |  | As of |
|  | December 31, 2019 |  |  | June 30, 2019 |
Office Furniture and Equipment |  | $ | 3,326,658 |  |  | $ | 3,125,382 |
Computer Equipment |  |  | 20,242,827 |  |  |  | 18,905,603 |
Assets Under Capital Leases |  |  | 1,671,055 |  |  |  | 1,720,490 |
Building |  |  | 6,331,664 |  |  |  | 6,021,939 |
Land |  |  | 1,641,773 |  |  |  | 1,559,111 |
Capital Work In Progress |  |  | 13,859 |  |  |  | - |
Autos |  |  | 1,403,884 |  |  |  | 1,024,754 |
Improvements |  |  | 96,223 |  |  |  | 111,165 |
Subtotal |  |  | 34,727,943 |  |  |  | 32,468,444 |
Accumulated Depreciation |  |  | (22,059,254 | ) |  |  | (20,371,589 | )
Property and Equipment, Net |  | $ | 12,668,689 |  |  | $ | 12,096,855 |
For the three and six months ended December 31, 2019, depreciation expense totaled $484,662 and $950,113, respectively. Of these amounts, $269,183 and $532,247, respectively, are reflected in cost of revenues. For the three months ended December 31, 2018, depreciation expense totaled $533,837 and $1,097,965, respectively. Of these amounts, $340,058 and $691,954, respectively, are reflected in cost of revenues. Following is a summary of fixed assets held under finance leases as of December 31, 2019 and June 30, 2019:
|  | As of |  |  | As of |
|  | December 31, 2019 |  |  | June 30, 2019 |
Computers and Other Equipment |  | $ | 340,367 |  |  | $ | 324,466 |
Furniture and Fixtures |  |  | 65,084 |  |  |  | 65,084 |
Vehicles |  |  | 1,265,604 |  |  |  | 1,330,940 |
Total |  |  | 1,671,055 |  |  |  | 1,720,490 |
Less: Accumulated Depreciation - Net |  |  | (638,759 | ) |  |  | (538,564 | )
|  | $ | 1,032,296 |  |  | $ | 1,181,926 |
Finance lease term and discount rate were as follows:
|  | As of |
|  | December 31, 2019 |
Weighted average remaining lease term - finance leases |  |  | 1.9 Years |
Weighted average discount rate - finance leases |  |  | 13.0 | %

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- References No definition available. + Details
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- Definition The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
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