Company: NTCL
Filing Date: 2025-10-20
Form Type: F-1
Source: 0001104659-25-100526
Chunk: 300

Company: NetClass Technology Inc
Filing Date: 2025-10-20
Form: F-1
Chunk 300
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 taxable income over the periods in which the deferred tax assets are recoverable, management believes it is more likely than not that the results of future operations will generate sufficient taxable income to realize the deferred tax assets as of September 30, 2024 and 2023.

(b)Taxes payable

Taxes payable consist of the following as of September 30, 2024 and 2023:

| ​                   | ​ 
 ​ | ​ |       ​ 
    2024 | ​ | ​ |       ​ 
    2023 |
|:--------------------|:--|:--|--------:|:--|:--|--------:|
| PRC                 | ​ | $ |  93,393 | ​ | $ |  89,829 |
| Hong Kong           | ​ |   | 200,193 | ​ |   | 198,621 |
| Singapore           | ​ |   |  47,631 | ​ |   |       — |
| Total taxes payable | ​ | $ | 341,217 | ​ | $ | 288,450 |

An uncertain tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. Penalties and interest incurred related to underpayment of income tax are classified as income tax expense in the period incurred. The Group evaluates each uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measure the unrecognized benefits associated with the tax positions. As of September 30, 2024 and 2023, the Group did t have any unrecognized uncertain tax positions and the Group does not believe that its unrecognized tax benefits will change over the next 12 months. For the years ended September 30, 2024 and 2023, the Company did t incur any interest and penalties related to potential underpaid income tax expenses. As of September 30, 2024, the tax years ended December 31, 2019 through 2023 for the Group’s subsidiaries in the PRC are generally subject to examination by the PRC tax authorities.

F-26

NOTE 9 — LEASE

The Company primarily has operating leases for administrative offices, through third-parties. A summary of supplemental balance