Zisa eyes tie-ups for e-filing of I-T returns

In a bid to expand its online returns filing business, Ahmedabad-based Zisa Technologies LLP is in talks for corporate tie-ups with the likes of TCS and US-based Groupon. The company, which enables e-filing of returns through its portal 'Quickitreturns.com', is an authorized e-returns intermediary by the Income Tax Department.

"So far we had been catering to individual tax payers through our web portal. However, we are now looking to expand our operations for which we are looking at corporate tie-ups. We are in talks with companies like TCS and Groupon for providing e-filing services for their employees. In such tie-ups, we are willing to offer bulk discounts to corporates," said Vimal Shah, managing partner, Zisa Technologies LLP.

The company, which is in talks with at least 7-8 firms, is also looking at offering value-added services like advisory and consulting services. "Preferably, we are looking at corporate tie-ups for more than 50 employees. Under such tie-ups, we will offer special pages for our corporate clients on the portal as well as offer bulk discounts," said Shah.

With the tax returns filing process expected to expedite till July 31, 2011, the company is aiming at over 10,000 e-returns being filed through its web portal.

"So far we have seen over 1,000 visitors on our web portal but hardly any returns. Nevertheless, as the July 31 deadline nears, we are aiming at e-returns of about 10,000 being filed from the portal. Moreover, we are in advanced talks with US-based Groupon which will host our services on its portal, which will also boost our operations in India," said Shah. As part of expansion plans, Zisa Technologies is also looking at raising around USD one million (Rs 4.50 crore) through venture capitalists. According to Shah, the company will commence talks with VC firms post July 31, 2011. Talking further about the portal, Shah said, "The portal has been designed after carefully studying existing sites and removing the complexities involved in filling up information online. Our website is a result of consultations and brainstorming with alumni of IIIT Bangalore and IIM Bangalore and a group of chartered accountants."

Zisa not only aims to hit at least 10,000 e-filed returns this year but also looks to grow to 100,000 users by next year. "By 2013, we aim to cater to close to two million users. We wish to capture at least 25 per cent of the e-filing market for ITR1 and ITR2 categories," Shah added.