All about XBRL returns for NBFC

Reserve Bank of India has mandates all NBFC’s to file NBFC returns in XBRL mode starting from FY 19-20. I have tried to cover all possible FAQ on XRBL returns through this article in FAQ form for better understanding and quick reference;

Q1 What is XBRL return?

Ans. XBRL stands for eXtensible Business Reporting Language. It is a language for the electronic communication of business and financial data which is revolutionising the business reporting around the world.

Q2 Whether XBRL return is applicable to all NBFC?

Ans. Yes, even if assets size is 2cr and even if not having any loans business. It is applicable to all NBFC.

Q3 Which XBRL return is be filed by NBFC having assets size below 100 crore?

Ans. DNBS 02 –Important Financial Parameters, DNBS 10-Statutory Auditor Certificate, DNBS 13-Overseas Investment Detail.

Q4 Which XBRL return is be filed by NBFC having assets size above 100 crore and below 500 crore.

Ans. DNBS 02 –Important Financial Parameters, DNBS 10-Statutory Auditor Certificate, DNBS 13-Overseas Investment Detail, DNBS 04A Short Term Dynamic Liquidity (STDL), DNBS 04B –Structural Liquidity & Interest Rate Sensitivity

Q5. Which return applicable to Small NBFC having assets size of 2 cr or 5cr only?

Ans. Refer Answer no 3, DNBS 02 –Important Financial Parameters, DNBS 10-Statutory Auditor Certificate, DNBS 13-Overseas Investment Detail.

Q6. Whether COSMOS return of NBS08 and NBS 09 is required to be filed?

Ans. NO

Q7. How to create login Id and password for filing XBRL return of NBFC?

Ans. NBFC has to obtain this from RBI. Once NBFC receives Super User Login and password it has has to create maker and checker login ID and password for filing NBFC return, An automated email would be sent to maker and checker. NBFCs also required to create the Statutory Auditor ID in the XBRL System. After creation of Statutory Auditor user ID, An automated email would be sent to Statutory Auditor by XBRL system by which Auditor is required to upload DNBS 10 return.

Q8. How and when to affixed DSC?

Ans. DSC will be affixed once return is successfully filed by NBFC in XBRL Portal.

Q9 any due date for filing NBFC return?

Ans. Yes, as under.

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Article is written by CA Rahul Sureka, DISA, FCA, CS, LLB and can be reached at rahulsureka28@gmail.com or 9773450180.

Disclaimer: This article is for general guidance on matters of interest only and does not constitute any professional advice from me/us. One should not act upon the information contained in this article without obtaining specific professional advice. Further, no representation or warranty (expressed or implied) is given as to the accuracy or completeness of the information contained in this article.