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TAXES (Tables)

3 Months Ended

Sep. 30, 2024

Income Tax Disclosure [Abstract]

SCHEDULE OF INCOME TAX BENEFIT

i) The components of the income tax provision (benefit) were as follows:

SCHEDULE OF INCOME TAX BENEFIT 

		For the three months ended September 30,
		2024				2023
Current income tax provision		$	481			$	-
Deferred income tax benefit			(293,432	)			(251,366	)
Total income tax benefit			(292,951	)			(251,366	)
Less: income tax provision, held for discontinued operations			-				-
Income tax benefit, held for continuing operations		$	(292,951	)		$	(251,366	)

SCHEDULE OF FINANCIAL BASIS AND TAX BASIS OF ASSETS AND LIABILITIES

ii) The components of the deferred tax liability were as follows:

 SCHEDULE OF FINANCIAL BASIS AND TAX BASIS OF ASSETS AND LIABILITIES

		September 30, 2024				June 30, 2024
Deferred tax assets:
Allowance for credit loss/doubtful accounts		$	505,316			$	352,077
Inventory reserve			-				1,522
Net operating loss carry-forwards			1,517,475				1,187,887
Total			2,022,791				1,541,486
Valuation allowance			(1,559,787	)			(1,110,668	)
Total deferred tax assets			463,004				430,818
Deferred tax liability:
Intangible assets			(9,989,025	)			(10,266,124	)
Total deferred tax liability			(9,989,025	)			(10,266,124	)
Deferred tax liability, net		$	(9,526,021	)		$	(9,835,306	)

SCHEDULE OF MOVEMENT OF VALUATION ALLOWANCE

Movement of the valuation allowance:

SCHEDULE OF MOVEMENT OF VALUATION ALLOWANCE 

		September 30, 2024				June 30, 2024
Beginning balance		$	1,110,668			$	2,471,066
Acquisition of subsidiaries			-				154,481
Disposal of Tenet Jove			-				(2,392,580	)
Current year addition			409,130				881,746
Exchange difference			39,989				(4,045	)
Valuation allowance		$	1,559,787			$	1,110,668

SCHEDULE OF TAXES PAYABLE

Taxes payable consisted of the following:

SCHEDULE OF TAXES PAYABLE 

		September 30, 2024				June 30, 2024
Income tax payable		$	1,284,580			$	1,268,904
Value added tax payable			254,432				303,739
Business tax and other taxes payable			2,289				1,178
Total tax payable		$	1,541,301			$	1,573,821
Income tax payable - current portion		$	1,355,110			$	1,387,630
Income tax payable – non-current portion		$	186,191			$	186,191

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- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

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Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

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