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MCA Mandate

MCA Mandate

The Vide genral circular no. 16/2012 dated 06/07/2012, following class of companies have to file the 

Financial Statements in XBRL Format from the year 2011-2012:-  

 

1) All companies listed with any stock exchange(s) in India and their Indian subsidiaries; Or (Subsidiary of listed company are required to file in XBRL format, irrespective of its paid up capital)  

(Note : If A ltd is Listed Company , B (P) Ltd is A’s Subsidiary and C (P) Ltd is B’s Subsidiary, then as per FAQ by MCA all three i.e. A Ltd , B (P) Ltd & C (P) Ltd have to file in XBRL Format only)
 

2) All companies having paid up capital of Rs. 5 Crore and above ; Or
     A Turnover of Rs. 100 crores or above.

I.e. about 28,000 companies have to file in XBRL format

Note:XBRL filing is mandatory for companies which fall in the above mentioned criteria. It is optional for others.

 
3) All Companies who were required to file their Financial Statements for F.Y 2010-11 in XBRl mode.

There shall be a separate set of Form 23AC (Form for filing Balance Sheet and other documents with the Registrar) and Form 23ACA (Form for  filing Profit & Loss Account and other documents with Registrar) available on the MCA portal for filing in XBRL form.

 

Existing Form 23AC and 23ACA shall continue to be there for filing by companies to which XBRL filing is not applicable; and for filing of earlier year’s documents.

 
In case you wish to know more about the Applicability and concept of XBRL , you can mail us the Annual Financial Statements at info@taxorigin.com or contact us at 9723459572