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Property and Equipment | 9 Months Ended
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Mar. 31, 2020
Property, Plant and Equipment [Abstract] |
Property and Equipment | NOTE 11 - PROPERTY AND EQUIPMENT Property and equipment consisted of the following:
|  | As of |  |  | As of |
|  | March 31, 2020 |  |  | June 30, 2019 |
Office Furniture and Equipment |  | $ | 3,132,869 |  |  | $ | 3,125,382 |
Computer Equipment |  |  | 19,077,749 |  |  |  | 18,905,603 |
Assets Under Capital Leases |  |  | 1,553,868 |  |  |  | 1,720,490 |
Building |  |  | 5,905,714 |  |  |  | 6,021,939 |
Land |  |  | 1,528,091 |  |  |  | 1,559,111 |
Capital Work In Progress |  |  | 12,899 |  |  |  | - |
Autos |  |  | 1,301,193 |  |  |  | 1,024,754 |
Improvements |  |  | 87,609 |  |  |  | 111,165 |
Subtotal |  |  | 32,599,992 |  |  |  | 32,468,444 |
Accumulated Depreciation |  |  | (21,046,178 | ) |  |  | (20,371,589 | )
Property and Equipment, Net |  | $ | 11,553,814 |  |  | $ | 12,096,855 |
For the three and nine months ended March 31, 2020, depreciation expense totaled $479,350 and $1,429,463, respectively. Of these amounts, $273,315 and $805,562, respectively, are reflected in cost of revenues. For the three and nine months ended March 31, 2019, depreciation expense totaled $606,641 and $1,704,606, respectively. Of these amounts, $354,199 and $1,046,153, respectively, are reflected in cost of revenues. Following is a summary of fixed assets held under finance leases as of March 31, 2020 and June 30, 2019:
|  | As of |  |  | As of |
|  | March 31, 2020 |  |  | June 30, 2019 |
Computers and Other Equipment |  | $ | 328,998 |  |  | $ | 324,466 |
Furniture and Fixtures |  |  | 51,119 |  |  |  | 65,084 |
Vehicles |  |  | 1,173,751 |  |  |  | 1,330,940 |
Total |  |  | 1,553,868 |  |  |  | 1,720,490 |
Less: Accumulated Depreciation - Net |  |  | (652,372 | ) |  |  | (538,564 | )
|  | $ | 901,496 |  |  | $ | 1,181,926 |
Finance lease term and discount rate were as follows:
|  | As of |
|  | March 31, 2020 |
Weighted average remaining lease term - Finance leases |  |  | 1.65 Years |
Weighted average discount rate - Finance leases |  |  | 13.0 | %

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=120429125&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99779-112916 + Details
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