FILING OF BALANCE SHEET AND PROFIT AND LOSS ACCOUNT IN EXTENSIBLE BUSINESS REPORTING LANGUAGE (XBRL) MODE FOR FINANCIAL YEAR COMMENCING ON OR AFTER 1-4-2011
GENERAL CIRCULAR NO. 16/2012, DATED 6-7-2012
It has now been decided by the Ministry to mandate the following select class of companies to file their Balance Sheet and Profit & Loss Account in XBRL mode for the financial year commencing on or after 1-4-2011:
(i) all companies listed with any Stock Exchange(s) in India and their Indian subsidiaries; or
(ii) all companies having paid up capital of Rupees five crore and above; or
(iii) all companies having turnover of Rupees one hundred crore and above; or
(iv) all companies who were required to file their financial statements for FY 2010-11, using XBRL mode.
However, banking companies, insurance companies, power companies and Non-Banking Financial Companies (NBFCs) are exempted from XBRL filing till further orders.
Additional Fee Exemption:
All companies referred to in Para-2 above, will be allowed to file their financial statements in XBRL mode without any additional fee/penalty upto 15th November, 2012 or within 30 days from the date of their AGM, whichever is later.