Dear Gopalakrishnan R,
I would like to share some clarification for the concerns you have raised.
1.About the tool and conversion cost
a)The cost of tool and conversion charge are much cheaper in india when compared to cost in other countries which have adopted XBRL especially in US .Companies.US companies spend $30,000 to $2,00,000 yearly to comply with XBRL filing requirement.
b) Companies in india for which xbrl is applicable for this year would be spending lakhs of rupees for auditing etc ,which is also for compliance of regulation only.No one is concerned about these costs but concerned about xbrl cost(normally only in thousands of rupees and not in lakks of rupees) which is hard to understand.
c) If a company having minimum 100 crore turnover cannot afford the xbrl cost, then i have no words for them
d) MCA is not recommending anyone to go for outsourcing, then can buy or develop a software in house.
2.About Confidentiality
The companies have to give their annual report only to the the vendors for converting into XBRL and for listed companies annual report is published data. I believe just like CAs ,CSs maintain confidentiality ,it is important to maintain confidentiality by these vendors as well and definitely all vendors will be having confidentiality clause in their conversion service agreement ,if not companies should demand for the same.
3 About the easiness of tagging
a)XBRL is not like income tax filing. in income tax returns all heads and calculations are fixed and will not change from company to company or person to person. But in XBRL it is not possible to predefine each reporting heads for all companies and this is the challenge in XBRL.
b)Even if MCA provide free software it will be difficult to do XBRL by all the people since it require subject knowledge, technical knowledge, judgment skill, accuracy etc to get the quality xbrl report.
Thanks