Company: NTWK
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001493152-25-015950
Chunk: 82

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-09-29
Form: 10-K
Item: Item 8
Chunk 82
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63,137  
     - 
  
    Provision
    for income taxes 
    $1,476,338  
    $1,145,518 

A
reconciliation of taxes computed at the statutory federal income tax rate to income tax expense (benefit) is as follows:

 SCHEDULE OF RECONCILIATION OF TAXES AT STATUTORY FEDERAL INCOME TAX RATE INCOME TAX EXPENSE BENEFITS

    Years
    Ended June 30,  

    2025  
       
    2024  

    Income
    tax (benefit) provision at statutory rate 
    $1,269,924  
     21.0% 
    $676,924  
     21.0%
  
    State
    income (benefit) taxes, net of federal tax benefit 
     422,099  
     7.0% 
     224,997  
     7.0%
  
    Foreign
    earnings taxed at different rates 
     90,483  
     1.5% 
     (238,995) 
     -7.4%
  
    Change
    in valuation allowance for deferred tax assets 
     (179,699) 
     -3.0% 
     351,633  
     10.9%
  
    Other 
     (126,469) 
     -2.1% 
     130,959  
     4.1%
  
    Provision
    for income taxes 
    $1,476,338  
     24.4% 
    $1,145,518  
     35.5%

Deferred
income tax assets and liabilities as of June 30, 2025 and 2024 consist of tax effects of temporary differences related to the following:

 SCHEDULE OF DEFERRED INCOME TAX ASSETS AND LIABILITIES

    2025  
    2024 

    Years
    Ended June 30, 

    2025  
    2024 
  
    Net
    operating loss carry forwards 
    $10,963,495  
    $11,190,703 
  
    Other 
     200,323  
     152,814 
  
    Net
    deferred tax assets 
     11,163,818  
     11,