NithinBiliya:
My project consists of building a wireless device which will send its orientation info to a computer.
This seems very similar to the problem of controlling an autonomous flying drone, so it would be worth checking on the specialised hardware and software used for that. I understand there are Arduino variants with the necessary sensors integrated, which could simplify your hardware, and the associated Arduino/quadrotor algorithms to fuse the sensor inputs to derive orientation and position, which would simplify your software development substantially.