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NON-CONTROLLING INTEREST IN SUBSIDIARY | 3 Months Ended
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Sep. 30, 2022
Noncontrolling Interest [Abstract] |
NON-CONTROLLING INTEREST IN SUBSIDIARY | NOTE 19 – 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: SCHEDULE OF BALANCE OF NON-CONTROLLING INTEREST
SUBSIDIARY |  | Non-Controlling Interest % |  |  | Non-Controlling Interest at September 30, 2022 |
NetSol PK |  |  | 32.38 | % |  | $ | 4,474,385 |
NetSol-Innovation |  |  | 32.38 | % |  |  | (10,332 | )
NetSol Thai |  |  | 0.006 | % |  |  | (184 | )
OTOZ Thai |  |  | 10.95 | % |  |  | (19,803 | )
OTOZ |  |  | 10.94 | % |  |  | (164,953 | )
Total |  |  |  |  |  | $ | 4,279,113 |
SUBSIDIARY |  | Non-Controlling Interest % |  |  | Non-Controlling Interest at June 30, 2022 |
NetSol PK |  |  | 32.38 | % |  | $ | 5,479,905 |
NetSol-Innovation |  |  | 32.38 | % |  |  | 49,146 |
NetSol Thai |  |  | 0.006 | % |  |  | (196 | )
OTOZ Thai |  |  | 5.60 | % |  |  | (30,768 | )
OTOZ |  |  | 5.59 | % |  |  | (47,698 | )
Total |  |  |  |  |  | $ | 5,450,389 |
The Company’s subsidiary, OTOZ, issued 191,011 shares to one of its employees as part of their employment agreement resulting in an increase of non-controlling interest from 5.59% to 10.94%. The effective shareholding of the non-controlling interest for OTOZ Thai increased to 10.95%. The following schedule discloses the effect to the Company’s equity due to the changes in the Company’s ownership interest in OTOZ and OTOZ Thai. SCHEDULE OF CHANGE IN OWNERSHIP INTEREST
|  |  | 1 |  |  |  | 2 |
|  | For the Three Months |
|  | Ended September 30, |
|  | 2022 |  |  | 2021 |
Net income (loss) attributable to NetSol |  | $ | (620,729 | ) |  | $ | 187,969 |
Transfer (to) from non-controlling interest |  |  |  |  |  |  |  |
Increase in paid-in capital for issuance of 191,011 shares of OTOZ Inc. common stock |  |  | 120,565 |  |  |  | - |
Net transfer (to) from non-controlling interest |  |  | 120,565 |  |  |  | - |
Change from net income (loss) attributable to NetSol and transfer (to) from non-controlling interest |  | $ | (500,164 | ) |  | $ | 187,969 |

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- Definition The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -URI https://asc.fasb.org/topic&trid=2197479 + Details
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- References No definition available. + Details
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