Privacy Policy

Last updated: January 22, 2025

1. Introduction

At IFRS AI Tools ("we," "us," or "our"), we take your privacy seriously. This Privacy Policy explains how we collect, use, disclose, and safeguard your information when you use our service. Please read this privacy policy carefully. If you do not agree with the terms of this privacy policy, please do not access the service.

We operate as 2 Minute Apps, a sole proprietorship registered in Jamshedpur, Jharkhand, India.

2. Information We Collect

We collect information that you provide directly to us:

  • Basic account information (name and email address)
  • Team names and team associations
  • Payment information (processed securely through our payment processors)
  • PDF lease agreements that you upload for processing
  • Usage data and analytics information

3. How We Use Your Information

We use the information we collect to:

  • Provide, maintain, and improve our services
  • Process your lease agreements and generate calculations
  • Process your payments and manage your account
  • Send you technical notices, updates, security alerts, and support messages
  • Send you marketing communications (with opt-out option)
  • Monitor and analyze trends, usage, and activities in connection with our service
  • Detect, prevent, and address technical issues

4. Data Storage and Processing

4.1. Data Storage Location:

  • Primary data storage: Mumbai, India
  • Temporary processing may occur in other locations through our third-party service providers

4.2. Third-Party Service Providers:

  • OpenAI: For processing lease agreement text
  • Stripe and Razorpay: For payment processing
  • Posthog: For analytics

5. Data Retention

We retain different types of data for different periods:

  • Account information: Retained indefinitely until deletion is requested
  • Uploaded PDF files: Deleted immediately after processing
  • Generated Excel files: Deleted after download
  • Payment information: Retained as required by law

6. Your Privacy Rights

6.1. All Users have the right to:

  • Access their personal information
  • Correct inaccurate data
  • Request data deletion
  • Opt-out of marketing communications
  • Request a copy of their data

6.2. Additional Rights for EU Residents (GDPR):

  • Right to be forgotten
  • Right to data portability
  • Right to restrict processing
  • Right to object to processing
  • Right to be informed of data breaches

6.3. Additional Rights for California Residents (CCPA):

  • Right to know what personal information is collected
  • Right to know whether personal information is sold or disclosed
  • Right to say no to the sale of personal information
  • Right to equal service and price

7. Data Protection

We implement appropriate technical and organizational measures to maintain the security of your personal information, including:

  • Secure HTTPS encryption for all data transfers
  • Secure data storage with industry-standard encryption
  • Regular security assessments and updates
  • Strict access controls and authentication

8. Marketing Communications

We may send you marketing communications about our services. You can opt-out of these communications at any time by:

  • Using the unsubscribe link in our emails
  • Contacting us at hello@ifrsaitools.com

9. Data Subject Requests

You can exercise your privacy rights by contacting us at hello@ifrsaitools.com. We will respond to all legitimate requests within 4 business days.

10. International Data Transfers

Your information may be transferred to and processed in countries other than your country of residence through our third-party service providers. We ensure appropriate safeguards are in place for such transfers.

11. Children's Privacy

Our service is not directed to children under 13. We do not knowingly collect personal information from children under 13. If you become aware that a child has provided us with personal information, please contact us.

12. Changes to This Privacy Policy

We may update this privacy policy from time to time. We will notify you of any changes by posting the new privacy policy on this page and updating the "Last updated" date.

13. Contact Information

If you have any questions about this Privacy Policy or our data practices, please contact us at:

2 Minute Apps
22 Bagmati Road
Northern Town, Jamshedpur - 831001
Email: hello@ifrsaitools.com
Support Hours: Monday-Friday, 9AM-6PM IST