Is there any utility to create/convert a image to binary TIFF image. I want to use that binary tiff image as a input to a software ( an open source project which takes only binary tiff images as input).
You could use ImageMagick's convert option with the -monochrome parameter, for example:
Convert has many options for compression, threshold, filtering, etc. See this link for the options. ImageMagick runs on Linux and Windows.