Fisqo: An Open-Source AI-Assisted Tool for India's Personal Income Tax Filing

Fisqo is an open-source local web application that helps Indian residents prepare and file income tax returns using AI agents and workflows, with a focus on supporting foreign income (such as RSUs, gains from foreign brokerage accounts) and holders of complex domestic assets. Its core advantages include a local-first architecture (privacy protection), open-source audibility, design tailored to India's new tax regime, and use of the MIT license.

Background

Existing commercial tax tools have functional gaps in handling complex scenarios such as foreign income and multi-currency conversion; Fisqo aims to fill this gap.

Target Users

• Indian residents with foreign income
• Taxpayers holding foreign brokerage accounts or RSUs
• Individuals with foreign bank interest income
• Users with complex domestic asset structures
• Groups dissatisfied with commercial tax tools

Core Features

1. Intelligent Document Processing: Ingest local PDF/CSV/XLS files and manage them with LLM classification
2. Income Extraction and Summary: Cover multiple income types like dividends, capital gains, rent
3. Exchange Rate Conversion: Use SBI TT buying rate for foreign income
4. Return Form Generation: Output ITR JSON files compliant with official schema

Design Decisions

• Local-first: Data does not leave the device; LLM is called only when necessary
• Only supports India's new tax regime
• Disclaimer: Results need manual verification and are not a substitute for professional advice

Technical architecture inference:

1. Local document ingestion layer: Reads PDF/CSV/XLS files
2. LLM classification and parsing layer: Calls user-configured LLM API to process documents
3. Tax calculation engine: Applies Indian tax law rules to calculate taxable income
4. Exchange rate conversion module: Integrates SBI TT exchange rate data
5. ITR JSON generator: Generates filing documents according to official standards
6. Web interface: Provides local operation entry

Pain Points Solved

• Foreign brokerage transaction records and capital gains calculation
• Exchange rate conversion for multi-currency income
• Foreign bank interest declaration

Privacy Protection

Local operation ensures sensitive financial data is not uploaded to third-party servers

Open-Source Advantages

Transparent logic, supports community audit and improvement, enhances credibility

Summary

Fisqo is a practical application of AI in personal tax filing, providing a privacy-friendly, low-cost auxiliary tool for specific users. It is not a substitute for professional advisors and has unique value.

Usage License

Uses the MIT license; users can freely use, modify, and distribute it.