XBRL

Dear Professional Colleague, The mode of  filing of the Financial Statements have undergone a sea change. Earlier from the physical filing of the records to e-filing and now to a totally new language of reporting called, XBRL. In the first phase of implementation, the scope of XBRL filing has been restricted to a limited number of [...] Full Article

The Ministry of Corporate Affairs has established an added facility under MCA 21, integration with Trade Mark Authority recently. The added feature facilitates professional / public to cross verify Company name before applying for ROC approval. Full Article

The Ministry of Corporate Affairs has formed a committee to develop the roadmap for future implementation of XBRL. The committee has its Terms of References as under: A. Identification of class of companies and various reports to be filed in XBRL in Phase-wise manner. B. Development of Taxonomies to be used by Corporates for their [...] Full Article

You are aware that a select class of companies have to file their financial statements for financial year 2010-11 using eXtensible Business Reporting Language (XBRL) vide Companies (Filing of Documents and Forms in eXtensible Business Reporting Language) Rules, 2011. Owing to fervent requests from stakeholders, last date of XBRL filings by a company have been extended up to 31.12.2011 or within 60 days from its due date of filing, whichever is later, without any addition.. Full Article

A committee has been formed by MCA to develop the roadmap for future implementation of XBRL. The committee has its Terms of References as under: A. Identification of class of companies and various reports to be filed in XBRL in Phase-wise manner. B. Development of Taxonomies to be used by Corporates for their regulatory filings to government agencies. Full Article

General Circular No: 69/2011 , Dated 30.11.2011 In partial modification of Para 1 of the Ministry's Circular no. 57/2011 dated 28.07.2011, the last date for filing financial statements in XBRL mode without any additional fee due to delay by those Phase-I class of companies (excluding exempted class) whose Balance Sheet date for FY 2010-11 is on or after 31.03.2011, has been extended up to 31.12.2011 or within 60 days of their due date of filing, whichever is la Full Article

The following enhancements have been released. These enhancements do not impact the instance documents which have already been filed on the MCA21 portal. This version of the tool needs to be downloaded by only those stakeholders who are facing the below mentioned issues. In case the instance document has been successfully validated and pre-scrutinised from the existing version of the tool (Ver 1.1), the same shall be allowed to be filed on the MCA portal. Full Article

Country's second largest software exporter Infosys today announced the launch of XBRL filing solution to help companies file their financial statements in the format mandated by the Ministry of Corporate Affairs. Full Article