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Directors Report of Integrated Hitech Ltd.

Mar 31, 2015

Dear Members,

The Directors have great pleasure in presenting the TWENTIETH ANNUAL REPORT of the Company with the audited accounts for the year ended 31st March 2015.

FINANCIAL RESULTS:

Rs.in lakhs.

Year

ended Year ended

31/03/2015 31/03/2014.

Income from operations 9.50 11.22

0.64 0.60

Otherlncome 0.95 (0.24)

Profit before Tax 0,95 (7.82)

Profit after Tax 0.95 (7.82)

Balance carried to Balance-Sheet

RESERVES & SURPLUS:

The Reserves and Surplus stands at Rs.78.65 lakhs as on 31/03/2015 as against Rs.77.70 lakhs as on 31/03/2015

DIVIDEND:

Due to inadequacy of profits, the Board has considered expedient not to recommend any dividend for the year ended 31st, March, 2015.

DEPOSITS

The Company has not accepted any deposit from the public.

DIRECTORS:

In accordance with the provisions of The Companies Act, 1956 and the Company's Articles of Association Mr J.Rajendhiran is due to retire by rotation and is eligible for reappointment.

Notice has been received u/s 257 of the Companies Act proposing his name for appointment as Director.

DIRECTORS' RESPONSIBILITY STATEMENT;

Pursuant to the requirement under Section 217(2AA) of The Companies Act, 1956, with respect to Directors' responsibility Statement, it is hereby confirmed:

(i) That in the preparation of the accounts for the financial year ended 31st March 2015, the applicable accounting standards have been followed.

(ii) .That the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that were reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year 2014-2015 and of the profit or loss of the company for the year under review;

(iii) That the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; That the Directors have prepared the accounts for the financial year ended 31st March 2015 on a 'going concern' basis.

(iv) WOMEN DIRECTOR - Your company has appointed Ms.R.A.Eswari woman director who has good experience in management of corporates.

PROJECT IMPLEMENTATION: ETDS: Your Company is providing the software and services for major companies and Banks for electronically filing their TDS returns. The company is in the process of new areas of software development.

FUTURE PROSPECTS:

Your Company is involved in the development of various software and services for efiling of Corporate Statutory Tax Returns and developing the existing software's.

AUDITORS AND AUDIT REPORT:

M/S A.John Moris & Co.,Chartered Accountants , Chennai, the Auditor of the Company, holds office until the conclusion of the ensuing Annual General Meeting. The Company has received confirmation from them that their appointment, if made, would be within the prescribed limits under Section 224(1 B) of the Companies Act, 1956. Accordingly it is proposed to appoint M/s A. John Moris & Co., as Auditor of the Company at the ensuing Annual General Meeting, to hold office till the conclusion of the next Annual General Meeting

LISTING REQUIREMENTS;

The shares of the company are listed on the Chennai and Mumbai Stock Exchanges. The annual listing fee has been duly paid..

DEPOSITORY SYSTEM;

The Security and Exchange Board of India (SEBI) has mandated the delivery of shares of your company under the compulsory dematerialized form with effect from 28th August 2000. Your company has entered into an agreement with the Central Depository Services and National Securities Depositoiy Limited for dematerialization of your Company's Securities in accordance with the provisions of Depository Regulation. With this the members have the option /discretion to hold their demat shares in the company through the National Securities Depository Limited or the Central Depository Services (India) Limited.

CORPORATE GOVERNANCE:

Your directors are happy to report that your company has fully complied with the SEBI Guidelines on Corporate Governance, which have been incorporated as per the Listing Agreement with the Stock Exchanges.

A detailed report on Corporate Governance forms Annexure -A to this report. The Statutory Auditors of the Company have examined the Company's compliance as above and have certified the same as required under the SEBI guidelines.. The certificate is reproduced as Annexure-B to this report.

MANAGEMENT DISCUSSION & ANALYSIS REPORT

Your Company is in development and service of various tax compliance software such as e-filing of Income Tax Returns Software for individuals and corporate bodies and and e-filing of Tax Deducted at Source (e-TDS) software for corporates.

Your Company have plans for associating with other large corporates/Banks to successfully implement the e-filing of Income Tax Returns and e-TDS Returns and plans to become the major player in the e- filing of I.T.Retums and e-TDS Returns for Income Tax.

CONSERVATION OF ENERGY,TECHNOLOGY ABSORPTION;

The Company has no activity relating to conservation of energy or technology absorption.

PERSONNEL:

Particulars of Employees pursuant to Section 217(2A) of the Companies Act, 1956. Mr.A.Gerald Ebenezer, Managing Director was in receipt of a remuneration of Rs.60,.000/- for the year 2014-15.

ACKNOWLEDGEMENT:

The Directors wish to place on record their appreciation of the dedicated and untiring hard work put by the employees at all levels. The Directors would like to thank the Banks, Consultants, Auditors and above all the shareholders and valued customers for their continued support and patronage.

For and on behalf of the Board,

Place: Chennai A. Gerald Ebenezer Date:. 31/08/2014 Managing Director.


Mar 31, 2014

Dear Members,

The Directors have great pleasure in presenting the Twenty First ANNUAL REPORT of the Company with the audited accounts for the year ended 31st March 2014.

FINANCIAL RESULTS: Rs.in lakhs.

Year ended Year ended 31/03/2014 31/03/2013.

Income from operations 11.22 18.25

0.60 X74

Otherlncome (0.24) 2.43

Profit before Tax (7.82) 2.43

Profit after Tax (7.82) 2.43

Balance carried to Balance-Sheet

RESERVES & SURPLUS:

The Reserves and Surplus stands at Rs.77.70 lakhs as on 31/03/2014 as against Rs.85.52 lakhs as on 31/03/2014

DIVIDEND:

Due to inadequacy of profits, the Board has considered expedient not to recommend any dividend for the year ended 31st, March, 2014.

DEPOSITS

The Company has not accepted any deposit from the public.

DIRECTORS:

In accordance with the provisions of The Companies Act, 1956 and the Company's Articles of Association Mr.A.X.N.Prabhu is due to retire by rotation and is eligible for reappointment.

Notice has been received u/s 257 of the Companies Act proposing his name for appointment as Director.

DIRECTORS' RESPONSIBILITY STATEMENT;

Pursuant to the requirement under Section 217(2AA) of The Companies Act, 1956, with respect to Directors' responsibility Statement, it is hereby confirmed:

(i) That in the preparation of the accounts for the financial year ended 31st March 2014, the applicable accounting standards have been followed.

(ii). That the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that were reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year 2013-2014 and of the profit or loss of the company for the year under review;

(iii) That the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; That the Directors have prepared the accounts for the financial year ended 31st March 2014 on a 'going concern' basis.

PROJECT IMPLEMENTATION: ETDS: Your Company is providing the software and services for major companies and Banks for electronically filing their TDS returns. The company is in the process of new areas of software development.

FUTURE PROSPECTS:

Your Company is involved in the development of various software and services for efiling of Corporate Statutory Tax Returns and developing the existing software's.

AUDITORS AND AUDIT REPORT:

M/S A.John Moris & Co.,Chartered Accountants , Chennai, the Auditor of the Company, holds office until the conclusion of the ensuing Annual General Meeting. The Company has received confirmation from them that their appointment, if made, would be within the prescribed limits under Section 224(1B) of the Companies Act, 1956. Accordingly it is proposed to appoint M/s A. John Moris & Co., as Auditor of the Company at the ensuing Annual General Meeting, to hold office till the conclusion of the next Annual General Meeting

LISTING REQUIREMENTS;

The shares of the company are listed on the Chennai and Mumbai Stock Exchanges. The annual listing fee has been duly paid..

DEPOSITORY SYSTEM;

The Security and Exchange Board of India (SEBI) has mandated the delivery of shares of your company under the compulsory dematerialized form with effect from 28th August 2000. Your company has entered into an agreement with the Central Depository Services and National Securities Depository Limited for dematerialization of your Company's Securities in accordance with the provisions of Depository Regulation. With this the members have the option /discretion to hold their demat shares in the company through the National Securities Depository Limited or the Central Depository Services (India) Limited.

CORPORATE GOVERNANCE:

Your directors are happy to report that your company has fully complied with the SEBI Guidelines on Corporate Governance, which have been incorporated as per the Listing Agreement with the Stock Exchanges.

A detailed report on Corporate Governance forms Annexure -A to this report. The Statutory Auditors of the Company have examined the Company's compliance as above and have certified the same as required under the SEBI guidelines.. The certificate is reproduced as Annexure-B to this report.

CONSERVATION OF ENERGY,TECHNOLOGY ABSORPTION;

The Company has no activity relating to conservation of energy or technology absorption.

PERSONNEL:

Particulars of Employees pursuant to Section 217(2A) of the Companies Act, 1956. Mr.A.Gerald Ebenezer, Managing Director was in receipt of a remuneration of Rs.60,.000/- for the year 2013-14.

ACKNOWLEDGEMENT:

The Directors wish to place on record their appreciation of the dedicated and untiring hard work put by the employees at all levels. The Directors would like to thank the Banks, Consultants, Auditors and above all the shareholders and valued customers for their continued support and patronage.

For and on behalf of the Board,

Place: Chennai A.Gerald Ebenezer Date: . 30/08/2014 Managing Director.






Mar 31, 2010

The Directors have great pleasure in presenting the SEVENTEENTH ANNUAL REPORT of the Company with the audited accounts for the year ended 31st March 2010.

FINANCIAL RESULTS:

Rs.in lakhs

Year ended Year ended 31/03/2010 31/03/2009

Income from operations 22.36 30.25

Other Income 0.72 2.28

Profit before Tax 0.94 3.49

Profit after Tax 0.94 3.89

Balance carried to Balance-Sheet 0.94 2.49

RESERVES & SURPLUS:

The Reserves and Surplus stands at Rs.76.61 lakhs as on 31 /03/2010 as against Rs. 75.66lakhs as on 31 -03-2009

DIVIDEND:

Due to inadequacy of profits, the Board has considered expedient not to recommend any dividend for the year ended 31 st, March, 2010.

DEPOSITS

The Company has not accepted any deposit from the public.

DIRECTORS:

In accordance with the provisions of The Companies Act, 1956 and the Companys Articles of Association Mr AXN. Prabhu is due to retire by rotation and is eligible for reappointment.

Notice have been received u/s 257 of the Companies Act proposing his name for appointment as Director.

DIRECTORS RESPONSIBILITY STATEMENT;

Pursuant to the requirement under Section 217(2AA) of The Companies Act, 1956, with respect to Directors responsibility Statement, it is hereby confirmed:

(i) That in the preparation of the accounts forthe financial year ended 31st March 2010, the applicable accounting standards have been followed.

(ii) That the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that were reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year 2009-2010 and of the profit or loss of the company for the year under review;

(iii) That the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

(iii) That the Directors have prepared the accounts for the financial year ended 31st March 2010 on a going concern basis.

PROJECT IMPLEMENTATION:

ETDS: Your company is providing the software and services for major companies and Banks for electronically filing their TDS returns. There was good response for filing the eTDS returns as on 31st March 2010.

Efiling of IT Returns:

The Government of India, Directorate of Income Tax have made it mandatory for corporate bodies to file their Income Tax returns only in electronic mode and optional for individuals. The first e-Return of Income Tax was filed through your Company under the electronic furnishing of e-Retums in 2004. Your company has developed e-filing software such as ITR1,2,3 as prescribed by Income tax Department AND developing new software for Tax as per DIRECT TAX CODE, to be introduced from 2011.

FUTURE PROSPECTS:

Your Company is involved in the development of various software and services for efiling of Corporate Statutory Tax Returns and have chalked plans to be a major player in the Corporate eReturn filing on implementation of the DIRECT TAX CODE.

AUDITORS AND AUDIT REPORT:

M/S A.John Moris & Co.,Chartered Accountants , Chennai, the Auditor of the Company, holds office until the conclusion of the ensuing Annual General Meeting. The Company has received confirmation from them that their appointment, if made, would be within the prescribed limits under Section 224(1 B) of the Companies Act, 1956. Accordingly it is proposed to appoint M/s A. John Moris & Co., as Auditor of the Company at the ensuing Annual General Meeting, to hold office till the conclusion of the next Annual General Meeting.

LISTING REQUIREMENTS:

The shares of the company are listed on the Chennai and Mumbai Stock Exchanges. The annual listing fee has been duly paid.

DEPOSITORY SYSTEM:

The Security and Exchange Board of India (SEBI) has mandated the delivery of shares of your company under the compulsory dematerialized form with effect from 28th August 2000. Your company has entered into an agreement with the Central Depository Services and National Securities Depository Limited for dematerialization of your Companys Securities in accordance with the provisions of Depository Regulation. With this the members have the option /discretion to hold their demat shares in the company through the National Securities Depository Limited or the Central Depository Services (India) Limited.

CORPORATE GOVERNANCE:

Your directors are happy to report that your company has fully complied with the SEBI Guidelines on Corporate Governance, which have been incorporated as perthe Listing Agreement with the Stock Exchanges.

A detailed report on Corporate Governance forms Annexure -A to this report. The Statutory Auditors of the Company have examined the Companys compliance as above and have certified the same as required under the SEBI guidelines.. The certificate is reproduced as Annexure-B to this report.

MANAGEMENT DISCUSSION & ANALYSIS REPORT

Your Company is in development and service of various tax compliance software such as e-filing of Income Tax Returns Software (ITR 123) for individuals and corporate bodies and and e-filing of Tax Deducted at Source (e-TDS) software for corporates. Your Company have plans for associating with other large corporates/Banks to successfully implement the e-filing of Income Tax Returns and e-TDS Returns. India plans to become the major player in the e-filing of I.T.Retums and e-TDS Returns for Income Tax.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION:

The Company has no activity relating to conservation of energy or technology absorption.

PERSONNEL:

Particulars of Employees pursuant to Section 217(2A) of the Companies Act, 1956. Mr. A. Gerald Ebenezer, Managing Director was in receipt of a remuneration of Rs.60,000/- for the year 2009-2010.

ACKNOWLEDGEMENT:

The Directors wish to place on record their appreciation of the dedicated and untiring hard work put by the employees at all levels. The Directors would like to thank the Banks, Consultants, Auditors and above all the shareholders and valued customers for their continued support and patronage.

For and on behalf of the Board

Place : Chennai A. Gerald Ebenezer

Date : 31-07-2010 Managing Director.

 
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