DataTracks India announces the launch of an  XBRL tagging self-service portal for mpanies and acunting firms in India to set up user acunts, upload financial statements and (on preparation of output by DataTracks) download XBRL instance documents.

The  Ministry of rporate Affairs mandated all listed mpanies (and their subsidiaries) and mpanies that cross threshold limits in revenue or capital to submit their financial statements in XBRL format effective this year. The Ministry started aepting XBRL instance document inputs from 8 Oct 2011 after publishing the validation rules that input documents need to nform to.

Immediately after MCA started aepting filings in XBRL format, DataTracks India launched its self-service portal and  MCA XBRL services. mpanies and service providers such as practicing acuntants and mpany secretaries can set up user acunts and upload financial statements (in Word or Excel format) for nversion into XBRL format. DataTracks will notify the users when the output is ready (normally within 10 calendar days) and users can download the XBRL instance documents for filing with MCA.

DataTracks will provide additional documents to clarify how each data item in the financial statement is tagged and highlight key tagging decisions for review by mpanies and their advisors/auditors. DataTracks will inrporate changes (as many times and at no extra st) to the tags if desired by the mpanies or their advisors/auditors.

DataTracks uses its proprietary XBRL tagging tool (“DataTagger”) to prepare the XBRL instance documents for filing with MCA.

Announcing the launch, N Madanlal, Manager emmerce said “We are pleased that we were able to develop the tagging engine in time and in acrdance with the specifications of MCA. We are happy to note the supportive enquiries even prior to launch from a large number of mpanies and service providers. Our service is backed by our global track rerd in having prepared several thousand regulatory filings for SEC in United States and HMRC in the United Kingdom over the last five years. As a pure play XBRL service provider with no other interest in the nfidential data we manage and the ISO 27001 information security areditation provides us additional credentials in meeting our customers’ requirements.”

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 60,000 statements (in ASCII, HTML and the more recent XBRL format) for filing with Securities Exchange mmission in the United States in the last five years.