TaxTMI 
TaxTMI 
XBRL - An Overview
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....BRL - An Overview<br>By: - Parth Sharma<br>Corporate Laws / IBC / SEBI<br>Dated:- 14-9-2015<br><br>* What is XBRL * eXtensible Business Reporting Language (XBRL) * A more advanced form of XML. (XML reporting is already being used by the Income-tax Department in India.) * It is a revolutionary format for financial reporting process for both preparers and consumers. * Mandate of ministry of ....
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....corporate affairs on XBRL Companies whose Balance Sheet date is 31.03.2011 or onwards, need to file their financial statements in XBRL provided they qualify the criteria laid as per Ministry of Corporate Affairs (MCA) vide its General Circular 37/2011 dated 07.06.2011 The following class of companies have to file the Financial Statements in XBRL Form w.e.f FY 2010 - 2011:- * All companies li....
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....sted in India and their subsidiaries; * All companies having a paid up capital of ₹ 5 Crore and above; * Turnover of ₹ 100 Crore or above. Exempted category The following classes of companies are not required to file financial statements in XBRL format: Banking Companies Insurance Companies Power Companies Non - Banking Financial Companies (NBFCs) Other Companies having....
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.... Paid-up capital below ₹ 5 Crore or Turnover below ₹ 100 Crore Note: FOR MCA CIRCULARS ON XBRL CLICK ON THE LINK GIVEN BELOW http://www.mca.gov.in/XBRL/Notifications_Circulars.html * XBRL Filing Process Step 1: Mapping of financial statement & Non- Financial disclosures to corresponding element in "Taxonomy" Step 2: Create instance document Step 3: Review and verify the instan....
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....ce document Step 4: Download XBRL validation tool from MCA Portal Step 5: Use the tool to validate the instance document Step 6: Pre-scrutiny of validated instance document through the tool Step 7: Use In - built Viewer Step 8: Attach instance document to the Form 23AC-XBRL and Form 23ACA-XBRL Step 9: Upload Form 23AC-XBRL and Form 23ACA-XBRL on the MCA portal Step 10: View Balance Sheet an....
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....d Profit & Loss submitted in XBRL form on MCA portal Note: Form 23AC-XBRL & Form 23ACA-XBRL have been replaced by Form AOC-4-XBRL which yet to be released by the MCA<br> Scholarly articles for knowledge sharing by authors, experts, professionals ....