Company: NTCL
Filing Date: 2025-10-20
Form Type: F-1
Source: 0001104659-25-100526
Chunk: 330

Company: NetClass Technology Inc
Filing Date: 2025-10-20
Form: F-1
Chunk 330
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215,526 | ​ | $ | 21,910 |
| Additions                                | ​ |   |  56,808 | ​ |   |    196 |
| Reversals                                | ​ |   |  -6,379 | ​ |   |      — |
| Foreign currency translation adjustments | ​ |   |  -7,282 | ​ |   |    229 |
| Ending balance                           | ​ | $ | 258,673 | ​ | $ | 22,336 |

According to PRC tax regulations, PRC net operating loss can generally carry forward for from the year subsequent to the year in which the loss was incurred, and that of high-tech enterprises is no more than . Carryback of losses is not permitted. As of March 31, 2025 and September 30, 2024 (audited), the Company had net operating losses of $ and $, respectively, which are available to offset future taxable income. If not used, these carryforwards will expire from 2025 through 2030.

The realization of deferred tax assets is dependent upon the generation of taxable income during the periods in which those temporary differences become deductible. Recovery of substantially all of the Company’s deferred tax assets is dependent upon the generation of future income, exclusive of reversing taxable temporary differences. The valuation allowance is considered on an individual entity basis. As of March 31, 2025 and September 30, 2024, valuation allowances on deferred tax assets are provided because the Company believes that it is more-likely-than-not that certain of the subsidiaries in the PRC will not be able to generate sufficient taxable income in the near future, to realize the deferred tax assets carried-forwards. For the remaining entities, based upon the level of historical taxable income and projections for future 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 March 31, 2025 and September 30, 2024 (audited).

(b)Taxes payable

Taxes payable consist of the following:

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 March 31, 
 2025      
 ​         |       ​ 
       ​ | ​ 
 ​ 
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 September 30, 
 2024          
 audited       |       ​ |
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