DataTracks India announces the launch of XBRL services in India for mpanies to get the regulatory filings prepared in XBRL format for filing with the Ministry of rporate Affairs of the ernment of India.

MCA has notified that large mpanies, including listed mpanies, their Indian subsidiaries and mpanies with a line revenue in excess of Rs 1,000 million or paid up capital in excess of Rs 50 million, should file their annual returns with MCA in XBRL format for the financial years ending on or after 31 Mar 2011. Regulators worldwide are moving to llect financial data in XBRL format and MCA is a leader in introducing this new initiative in India.

DataTracks India has announced that it would be launching its turnkey online XBRL services through , where users can set up acunts, upload inputs for nversion, and download the XBRL outputs. DataTracks India uses its proprietary tagging engine to nvert input documents into XBRL format. The tagging engine has been adapted to meet the requirements of MCA and the India GAAP taxonomy specified by MCA. DataTracks has participated in the testing of MCA’s XBRL systems with sample outputs. User registrations and aeptance of inputs will mmence after MCA announce the final specifications of the taxonomy and the validation requirements. This is expected to be done shortly.

“We have a global track rerd of serving more than 2500 mpanies in UK and US for nearly six years. Our secure and easy-to-use portal will offer our customers a very reliable and user friendly experience. We have already booked close to 100 orders for our XBRL nversion services, even before the mmencement of MCA XBRL filing, which only reiterates our strong credentials”, mments Rajashekar G, Vice President Business Development for DataTracks.

“Our active participation in various XBRL nferences and workshops across India, hosted by the professional bodies such as ICAI, ICSI and ICWA has helped us understand better the XBRL filing requirements in India.” he added.

About DataTracks India: DataTracks India is owned by TaurusQuest, leaders worldwide in preparation of financial statements in XBRL format for filing with regulators. TaurusQuest has prepared more than 80,000 statements (in ASCII, HTML and the more recent XBRL format) for filing with Securities Exchange mmission in the United States in the last six years.