Integrated Hitech Ltd Management Discussions.

INTEGRATED HITECH LIMITED ANNUAL REPORT 2010-2011 MANAGEMENT DISCUSSION AND ANALYSIS FINANCIAL RESULTS: Rs.in lakhs Year ended Year ended 31-03-2011 31-03-2010 Income from operations 26.12 22.36 Other Income 1.10 0.72 Profit before Tax 2.97 0.94 Profit after Tax 2.97 0.94 Balance carried to Balance-Sheet 2.97 0.94 RESERVES & SURPLUS: The Reserves and Surplus stands at Rs.79.58 lakhs as on 31/03/2011 as against Rs.76.61 lakhs as on 31/03/2010 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 2011. 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-Returns 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. 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. 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.Returns and e-TDS Returns for Income Tax.