Your Directors have pleasure in presenting before you the 31st Annual Report of your Company on
the business and operations together with the Audited Financial Statements including Consolidated
Financial Statement and Auditors' Report for the financial year ended 31^st March 2024.The
performance of the Company during the year under Report is summarized as below:

FINANCIAL HIGHLIGHTS:

The summarized financial results of our operations for the Financial Year ending 31^st March 2024 is
detailed hereunder.

(Rs. in Lakhs)

WEB ADDRESS - easitax.com
FINANCIAL PERFORMANCE

During the year under review, your Company has registered a total loss of Rs. (768.60)/- Lakhs as
compared to previous year loss of Rs. (19.51)/- Lakhs. The Board is trying hard for the growth of the
Company. Your Directors are continuously looking for avenues for future growth of the Company by
developing new Software in the ever growing field of Financial and Health Care Sector. The Company is
now ready to avail the new opportunities available in the market.

CHANGES IN SHARE CAPITAL

During the Financial year 2023-24 the Authorized Share Capital and Paid Up Capital as on 31^st March
2024 stood at Rs.11,00,00,000/- and Rs.10,00,46,000/- respectively. During the year under review, the
company has not issued any Securities nor granted any Stock Options or Sweat Equity.

BUSINESS REVIEW/ STATE OF THE COMPANY'S AFFAIRS

Your Company is involved in the development of various software and services for E-filing of Corporate
Statutory Tax Returns and developing the existing software's. The company is working on to develop e-
redressal system for GST and e-record system for health care.

During the year under review, the total income of the Company stands at Rs. 6.66/- Lakhs and the
expenses stands at Rs. 775.26/- Lakhs. The Net Loss stands at Rs. (768.60)/- Lakhs in comparison to Rs.
(19.51)/- Lakhs of last year.

The losses can be attributed to the developmental expenses the company is incurring for developing
the GST & Health Care Software which are yet to be launched in the market.

CHANGES IN THE NATURE OF THE BUSINESS

During the year under review, there were no changes in nature of business of the company.

MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE
COMPANY

The Company is in the process of complying with the requirement of achieving 100% holding of the
promoters in demat forms as required under the SEBI (Listing obligations and Disclosure
Requirements) Regulations 2015.

DIVIDEND

As there is no profit in this year therefore the Board recommends no dividend is to be declared for this
financial year.

INFORMATION ABOUT SUBSIDIARY/ IV/ ASSOCIATE COMPANY

During the year, the Board of Directors ('the Board') reviewed the affairs of the subsidiary. In
accordance with Section-129(3) of the Companies Act, 2013, we have prepared consolidated financial
statements of the Company and its subsidiary, which form part of the Annual Report. Further, a
statement containing the salient features of the financial statement of the subsidiary in the prescribed
format AOC - 1 is appended as Annexure-1 to the Board's report. The statement also provides the
details of performance, financial positions of each of the subsidiaries.

In accordance with Section 136 of the Companies Act, 2013, the audited financial statements, including
the consolidated financial statements and related information of the Company, are available on our
website www.easitax.com. These documents will also be available for inspection during business hours
at our registered office.

TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCTION AND PROTECTION FUND

The provisions of Section 125(2) of the Companies Act, 2013 do not apply as there was no dividend
declared and paid in last year.

BOARDS COMPOSITION, CATEGORY OF DIRECTORS AND THEIR MEETINGS:

The Board is collectively responsible for the sustainable success of the company. The Company's Board
has an optimum combination of Executive and Non-Executive Directors and reflects diversity in terms
of disciplines, professions, social groups, gender and stakeholder interest.

The strength of the Board as on March 31, 2024 is Six (6) directors. They are as follows:

1. A. GERALD EBENEZER Managing Director

2. RAINY RAMESH SINGHI Non-Executive Director (Women)

3. RAJENDHIRAN JAYARAM Independent Director

4. RAJENDHIRAN ESWARI ANGALI Independent Director(Women)

5. RAMESH CHANDRA MISHRA* Non-Executive Director

6. SUSHAMA ANUJ YADAV** Independent Director (Women)

* Ramesh Chandra Mishra appointed as a Director w.e.f. 02/09/2023
**Mrs. Sushama Anuj Yadav appointed as a Director w.e.f. 02/09/2023

The following are the KMP as on March 31, 2024:¬

1. A. GERALD EBENEZER - Managing Director

2. Ms. Shantwana Adhikari - CFO

3. Mr.Deepak Kumar Saha*** - Company Secretary

*** Mr.Deepak Kumar Saha resigned as Company Secretary and Compliance Officer w.e.f. 29/02/2024
MEETINGS OF THE BOARD OF DIRECTORS

The Board of Directors met Five (5) times during this financial year, The disclosure on Board
meetings and attendance of directors are given below:

COMMITTEES OF THE BOARD

The details of composition of the Committees of the Board of Directors are as under:-

a. Audit Committee

At the end of the Financial Year 2023-24 the Audit Committee constitutes of Mr. Rajendhiran
Jayaram, Mrs . Rajendhiran Eswari Angali, and Ms. Rainy Ramesh Singhi. Mr. Rajendhiran
Jayaram is the Chairman of the Audit Committee. The Board of Directors have accepted all the
recommendations given by the Audit Committee. The terms and reference of Audit Committee
and details of meetings held during the financial year 2023-24 and the attendance of members
are given in the Corporate Governance Report, which forms part of the Directors Report.

b. Nomination, Remuneration Committee

At the end of the Financial Year 2023-24 the Nomination and Remuneration Committee consists
of Mr. Rajendhiran Jayaram, Mrs . Rajendhiran Eswari Angali, and Ms. Rainy Ramesh Singhi. Mr.
Rajendhiran Jayaram is the Chairman of the Nomination and Remuneration Committee. The
details of the Nomination and Remuneration Committee and meetings held during the financial
year 2023-24 and the attendance of members are provided in the Corporate Governance Report,
which forms part of the Directors Report.

c. Stakeholders Relationship Committee

At the end of the Financial Year 2023-24 the Stakeholders Relationship Committee consists of
Mr. Rajendhiran Jayaram, Mrs . Rajendhiran Eswari Angali, and Ms. Rainy Ramesh Singhi. Mr.
Rajendhiran Jayaram is the Chairman of the Stakeholder Relationship Committee. The details of
the Stakeholder Relationship Committee and meetings held during the financial year 2023-24
and the attendance of members are provided in the Corporate Governance Report, which forms
part of the Directors Report.

EXTRACT OF ANNUAL RETURN

As required under Sub-Section (3) of Section 92 of the Companies Act, 2013 and Rule 12(1) of the
Companies (Management and Administration) Rules, 2014 an extract of Annual Return in Form MGT -
9 forms part of this report as Annexure - 2.

MANAGEMENT DISCUSSION AND ANALYSIS

The Management Discussion and Analysis forms an integral part of this Report and gives details of the
overall industry structure, developments, performance and state of affairs of the company and other
material developments during the financial year and is attached as Annexure-3.

CORPORATE GOVERNANCE

The Corporate Governance Report and a certificate by the Statutory Auditors regarding compliance of
the conditions of corporate governance by your Company as stipulated in Regulation 34(3) of the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015 are attached to this Report as
Annexure -4.

STATEMENT ON DECLARATION GIVEN BY INDEPENDENT DIRECTORS

All the Independent Directors have given declarations of Independence, as required pursuant to Section
149 (7) of the Companies Act, 2013 stating that they meet the criteria of Independence as provided in
sub-section (6) of Section 149 of the Companies Act, 2013.

All the Independent Directors have complied with the Code for Independent Directors prescribed in
Scheduled IV to the Act.

MEETING OF INDEPENDENT DIRECTORS

The performance of the Individual Directors on the Board and the Committees thereof is done by the
Board and the Independent Directors in their exclusive meeting done as per the policy formulated by
the Board in this regard.

BOARD EVALUATION

Pursuant to the provisions of the Companies Act, 2013 and Regulation 34(3) of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations 2015 the performance evaluation of the Board
and Individual Directors is done on annual basis.

The evaluation is done by the Board, Nomination and Remuneration Committee and Independent
Directors with specific focus on the performance and effective functioning of the Board and Individual
Directors.

DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to Section 134(5) of the Companies Act, 2013 the Board of Directors of the Company confirms
that-

a) In the preparation of the annual accounts, the applicable accounting standards had been
followed along with proper explanation relating to material departures;

b) The directors had selected such accounting policies and applied them consistently and made
judgments and estimates that are 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 and of the profit and loss of
the company for that period;

c) The directors had taken proper and sufficient care for the maintenance of adequate accounting
records in accordance with the provisions of this Act for safeguarding the assets of the company
and for preventing and detecting fraud and other irregularities;

d) The directors had prepared the annual accounts on a going concern basis;

e) The Directors had laid down internal financial controls to be followed by the company and such
internal financial controls are adequate and were operating effectively; and

f) The directors had devised proper systems to ensure compliance with the provisions of all
applicable laws and that such systems were adequate and operating effectively.

INTERNAL FINANCIAL CONTROLS

The Board has adopted the policies and procedures for ensuring the orderly and efficient conduct of its
business, including adherence to the Company's policies, the safeguarding of its assets, the prevention
and detection of frauds and errors, the accuracy and completeness of the accounting records, and the
timely preparation of reliable financial disclosures.

LOANS, GUARANTEES AND INVESTMENTS

There were no loans, guarantees or investments made by the Company under Section 186 of the
Companies Act, 2013 during the year under review and hence the said provision is not applicable.

RELATED PARTY TRANSACTIONS

There were no contract or arrangements made with related parties as defined under Section 188 of the
Companies Act, 2013 during the year under review.

PARTICULARS OF EMPLOYEES

None of the employees of the Company has been in receipt of remuneration exceeding the amounts
envisaged under Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 of
the Companies Act, 2013.

DEPOSITS

During the year under review, the Company has not accepted any fixed deposit from the public under
Sections 73 of the Companies Act, 2013 read with the Companies (Acceptance of Deposits) Rules, 2014.

VIGIL MECHANISM

In terms of the provisions of Section 177 of the Companies Act, 2013 your Company has formulated a
Whistle Blower Policy as a Vigil Mechanism. This mechanism aims for conducting the affairs in a fair
and transparent manner by adopting highest standards of professionalism, honesty, integrity and
ethical behavior.

This mechanism is for the employees to report concerns about unethical behavior, actual or suspected
fraud or violation of Code of Conduct and Ethics.

CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE OUTGO:

A. Conservation of Energy, Technology Absorption

The Company always believes in giving the best to its clients and in this regard it continuously upgrade
its knowledge in cutting edge technology and in the latest and best equipments.

B. Foreign Exchange Earnings and Outgo

There were no foreign exchange earnings and outgo during the year under review.

RISK MANAGEMENT

Risk Management is the process of identification, assessment and prioritization of risks followed by
coordinated efforts to minimize, monitor and mitigate/control the probability and/or impact of
unfortunate events or to maximize the realization of opportunities. The Company has laid down a
comprehensive Risk Assessment and Minimization Procedure which is reviewed by the Board from
time to time. These procedures are reviewed to ensure that executive management controls risk
through means of a properly defined framework. The major risks have been identified by the Company
and its mitigation process/measures have been formulated in the areas such as business, project
execution, event, financial, human, environment and statutory compliance.

AUDITORS

a. Statutory Auditors:

M/s. John Moris & Co. (Firm Registration No. 007220S), Chartered Accountants, Chennai were
appointed as Statutory Auditors of our Company in our 27^th Annual General Meeting held on 31^st
December 2020 and they hold office till the conclusion of our 32^ndAnnual General Meeting on a
remuneration as the Board of Directors of the Company may determine.

There are no qualifications or adverse remarks in the Statutory Audit Report which require any
explanation from the Board of Directors.

b. Secretarial Auditor:

Pursuant to the provisions of Section 204 of the Companies Act, 2013 and Rule 9 of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014 the Company has appointed CS
Rabindra Kumar Samal, Company Secretary in Whole time Practice to undertake the Secretarial Audit
of the Company for the financial year 2022-23, 2023-24 and 2024-25.

The Report of the Secretarial Auditor in Form MR-3 for the financial year 2023-24 is attached in
Annexure-5.

REPLY TO OBSERVATION RAISED BY THE SECRETARIAL AUDITOR

1. The Company is in the process of complying with the requirement of achieving 100% holding of
the promoters in demat forms as required under the SEBI (Listing obligations and Disclosure
Requirements) Regulations 2015. We are trying to regularise PAN issues of the Promotor
/Promotor Group and shall be able to comply with the Regulation.

FRAUDS REPORTED BY THE AUDITORS

No Frauds were reported by the Auditors either to the Audit Committee or in their reports during the
year under review.

MAINTENANCE OF COST RECORDS

The provisions of Section 148 of the Companies Act, 2013 are not applicable for the year since the
Company is not falling under the category of class Companies as prescribed under Sub-section (1) of
Section 148 of the Companies Act 2013 and Rules framed there under.

DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION,
PROHIBITION AND REDRESSAL) ACT, 2013

The Company is committed to provide a safe and conducive work environment to its employees. During
the year under review, no case of sexual harassment was reported.

During the year under review, the Internal Complaints Committee , which has been in existence in the
company to receive and deal in with complaints relating to such harassment , has not received any
complaint pertaining to sexual harassment.

DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS, COURTS AND
TRIBUNALS.

No significant and material order has been passed by the regulators, courts, tribunals impacting the
going concern status and Company's operations in future

ACKNOWLEDGEMENT

Your Directors wish to express their grateful appreciation to the continued co-operation received from
the Banks, Government Authorities, Customers, Vendors and Shareholders during the year under
review. Your Directors also wish to place on record their deep sense of appreciation for the committed
service of the Executives, staff and Workers of the Company.

By Order of the Board
Integrated Hitech Limited
-Sd-

Place : Chennai

A. GERALD EBENEZER

Date : 02/09/ 2024 Managing Director

DIN:02026613