XBRL filings

Rs. 7,999/-* Onwards



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XBRL means Extensible Business Reporting Language. XBRL is a language for the electronic communication of business and financial data which is revolutionizing and enhancing business reporting around the world. It provides major benefits in the preparation, analysis and communication of business information.

Applicability Of XBRL

As under section 137 of the Companies Act, 2013 using the Extensible Business Reporting Language (XBRL) taxonomy for financial year commencing on or after 1st April, 2014 is mandatory on

All companies listed with any Stock Exchange(s) in India and their Indian subsidiaries

All companies having paid up capital of Rupees five crore and above

All companies having turnover of Rupees one hundred crores and above.

All companies which were hitherto covered under the Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Rules, 2011.

Exemption From XBRL Filing

As under section 137 of the Companies Act, 2013 using the Extensible Business Reporting Language (XBRL) taxonomy for financial year commencing on or after 1st April, 2014 is mandatory on

Companies in Banking, Insurance

All companies having paid up capital of Rupees five crore and above

Power Sector

Non-Banking Financial Companies

Checklist of Procedure of XBRL


  • Check whether the company falls under the XBRL Limit.
  • Install the XBRL Software from XBRL Software vendor. The parent system is regarded as the main system and other systems will be considered as the client systems.
  • Check active net connection in the main system as well as client systems.
  • Create the user id and password for the Company.
  • Feed all the relevant data on the XBRL generated Company. The details of the company contains financial tagging, Fixed Asset tagging and non financial tagging.
  • Once the details have been filled, check the errors generated.
  • Eliminate the errors to 0.
  • Generate the XML file of the Company that is instance document.
  • Download the C&I taxonomy from MCA Portal.
  • Validate the XML document using MCA XBRL validation tool V2.0.4 available on MCA21 portal.
  • Generate the Pdf of the same XML document.
  • Attach the Pdf file as attachment in the annual filing form AOC-4 (XBRL).
  • Upload the form on MCA Site.

FAQs

XBRL leads to increase in the usability of financial statement information. The need to re-key financial data for analytical and other purposes can be eliminated. By presenting its statements in XBRL, a company can benefit investors and raise its profile. It will also meet the requirements of regulators, lenders and others consumers of financial information, who are increasingly demanding reporting in XBRL.

With full adoption of XBRL, companies can automate data collection. For example, data from different company divisions with different accounting systems can be assembled very quickly and efficiently. Once data is gathered in XBRL, different types of reports using varying subsets of the data can be produced with minimum effort. A company finance division, for example, could quickly generate internal management reports, financial statements for publication, tax and other regulatory filings, as well as credit reports for lenders. Not only data handling can be automated, removing time-consuming, error-prone processes, but the data can be checked by software for accuracy.

XBRL instance document creation software has to be purchased from the good software vendors in the market. This software is used to create XBRL instance documents that would be uploaded on the MCA portal. Stakeholders may check whether the software is compliant with the Business Rules published by the MCA. MCA will provide a Validation Tool to provide a facility for validation of the instance document and filing of the same on the MCA Website.

XBRL benefits comparability by helping to identify data which is genuinely alike and distinguishing information which is not comparable.