1. I would like to know, whether the XBRL software has to be purchased from separate vendors and then install in our computers or MCA itself will provide us with the software. Which agency should I approach to get the XBRL software?
XBRL instance document creation software has to be purchased from the software vendors in the market. This software is used to create XBRL instance documents that would be uploaded on the MCA portal. MCA21 system shall provide a facility for validation of the instance document and filing of the same. MCA is not recommending any specific XBRL software.
2. I am interested in taking training for filing in XBRL format. Kindly advice.
ICAI, which is assisting MCA with conduct of XBRL training, has been instructed to develop standard Training module as well identify resource persons in consultation with XBRL training partners located at different parts on the country. It is proposed to engage leading chambers of industry and other professional institutes, namely, ICWAI and ICSI in future trainings. Training will be held over the next few months in most leading cities of India. Details of the same will be available on our website www.mca.gov.in/www.xbrl.icai.org.

3. When we are filing Balance Sheet in XBRL format, then whether the Previous Forms 23AC and 23ACA are still in existence or not?
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.
4. How to upload the XBRL format?
Kindly see the document ‘Steps for filing XBRL in MCA21.doc’ on the website.

5. How to retype ‘Notes to Accounts and Statements’ in XBRL format?
This shall be catered by the XBRL instance document creation software

6. If the subsidiary Company’s paid up capital is less than Rupees 5 Crore, then I want to know whether it is to be filed in XBRL format.
Subsidiary of listed company is required to file in XBRL format, irrespective of its paid up capital.

7. Please give proper understanding on XBRL Taxonomy. Why does the excel file contain five sheets.
XBRL is a collection of standardized, machine-readable “tags” for line items in financial statements, including footnotes and schedules. It is similar in concept to bar codes used to identify products. Using XBRL, each line in a financial statement is assigned a standardized data tag.
XBRL is a standards-based way to communicate business and financial information. These communications are defined by metadata set out in taxonomies. Taxonomies capture the definition of individual reporting concepts as well as the relationships between concepts and other semantic meaning.
The taxonomy comprises of the following components:-

  • Schema – Defines the elements used in the linkbases
  • Presentation linkbase – Which defines the structure for displaying the data, along with the preferred label attribute.
  • Calculation linkbase – Establishes the arithmetical relationship of simple addition and subtraction, which is done by way of a weight attribute (1 or -1)
  • Label linkbase – Stores the labels about the concepts (it is the human readable name of the element)


8. What are the other files to be used for given in xml / xsd format?
The XML and XSDs actually make the real taxonomy. The excel sheet is just for you to view it. An XBRL processor (a computer software that understands and/or manipulates XBRL documents) will need those XML and XSD documents.

9. What is taxonomy? How to define the taxonomies?

XBRL is a standards-based way to communicate business and financial information. These communications are defined by metadata set out in taxonomies. Taxonomies capture the definition of individual reporting concepts as well as the relationships between concepts and other semantic meaning.

Source – MCA

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0 responses to “FAQ on XBRL regarding software Purchase, Training, Filing of form 23AC and 23ACA , How to upload and Taxonomy”

  1. Bajrang says:

    Provision of expenses- Company is aware the party name who will be raising invoice. Only problem is correct estimate of amount. TDs can be provided on the estimated expenses of the specific party and can be paid well within time. Any difference will be adjusted in next year as prior period expenses. Since credit is available for TDS deducted no vendor objects even the TDs amount is more, hence provision should be made on higher side instead of lower side.

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