July 18, 2012
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XBRL filing mandate requires select companies to submit financial statements in standardized XBRL format with transitional fee relief.
The Ministry mandates XBRL filing of Balance Sheet and Profit & Loss Account for a specified class of companies for the financial year commencing 1 April 2011, covering listed companies (and their Indian subsidiaries), large companies by capital and turnover, and those already subject to XBRL requirements; banking, insurance, power and NBFCs are exempt until further orders. The Schedule VI taxonomy is published online, business rules and validation tools are being prepared, a transitional waiver of additional fees is provided for timely XBRL filing, and stakeholders are directed to the Ministry's XBRL portal for training.