Fema / RBI : RBI shifts LRS return reporting from XBRL to CIMS, streamlining financial reporting. Circular effective from Dec 26, 2023. Complia...
SEBI : Unlock the guide to BSE (Bombay Stock Exchange) compliances covering XBRL filing, board meetings, and regulatory obligations. Esse...
SEBI : BSE and NSE had released another circular on March 31, 2023, providing an additional list of items under Schedule III that need to...
Company Law : Navigate the world of digital reporting with AOC-4 XBRL. Understand the benefits, challenges, and how it transforms financial repo...
SEBI : Stay compliant with BSEs circular mandating XBRL filing for listed companies. Effective from January 28, 2023, disclosures under S...
SEBI : XBRL submission for Outcome of Board meeting will be applicable for Dividend, Buyback, Bonus and Voluntary Delisting events. NSE &...
CA, CS, CMA : In view of implementation of Ind AS 116, ‘Leases ’applicable from the financial year 2019-20, and amendments in other Ind ASs,...
SEBI : It has been decided that filings in respect of Annual Secretarial compliance report should be filed by all listed companies, throu...
Corporate Law : Ministry of Corporate Affairs (MCA) has mandated the filing of financial statements in XBRL format for the specified class of comp...
Company Law : The taxonomy for the Commercial and Industrial Companies have undergone a change owing to the requirements under the Companies Act...
Corporate Law : NSE has expanded the API-based single filing system to include key Regulation 30 XBRL disclosures such as fraud, restructuring, an...
SEBI : The exchange has proposed replacing PDF-based QIP filings with a structured XBRL framework. The move aims to standardise disclosur...
SEBI : The Exchange now requires all listed debt entities to file Regulation 50 disclosures exclusively in XBRL format from December 1, 2...
Company Law : MCA mandates attachment of signed financial statements in PDF with AOC-4 XBRL from July 14, 2025, via amendment to XBRL filing rul...
Fema / RBI : Introduction: The Reserve Bank of India (RBI) has issued a crucial circular, A.P. (DIR Series) Circular No.12, dated December 22, ...
XBRL (eXtensible Business Reporting Language) is a language for the electronic communication of business and financial data that has revolutionized business reporting around the world. Its major benefits include ease in preparation, analysis and communication of business information by the corporates. It offers cost savings, greater efficiency, improved accuracy as well as reliability to all those involved in supplying or using financial data. With increased coverage, it is hoped that the XBRL data thus collected would significantly enhance the Ministry’s capabilities in policy formulation and regulatory functions for advantage of corporates as well as public and investors at large.
Ministry of Corporate Affairs (MCA) has come out with an Exposure Draft on XBRL taxonomy for Commercial and Industrial (C&I) entities for filing their Balance Sheet and Profit and Loss Account for the financial year 2011-12 based on Revised Schedule VI.
52/17/CAB‐2011 In continuation of MCA’s General Circular No. 8/2012 dated 10th May, 2012, it has been decided that filing of Cost Audit Reports and Compliance Reports with the Central Government in the XBRL mode shall be allowed after 31st July, 2012.
XBRL is a language for the electronic communication of business and financial data which is revolutionising business reporting around the world. It provides major benefits in the preparation, analysis and communication of business information. It offers cost savings, greater efficiency and improved accuracy and reliability to all those involved in supplying or using financial data. It is an open standard, free of licence fees, being developed by a non-profit making international consortium. Other pages on this web site provide detailed information on XBRL, its technical features and its business opportunities.
The Ministry of Corporate Affairs has set up a Committee to develop the roadmap for future implementation of Extensible Business Reporting Language (XBRL). This Committee comprises of XBRL experts and representatives from the corporate sector as well as the Institute of Chartered Accountants of India (ICAI). The terms of reference of the Committee are as under:
With the new reporting format, the taxonomy also needed to undergo a change. Accordingly, the new taxonomy, based on the Revised Schedule VI requirements, for the Commercial & Industrial (C&I) companies has been developed by ICAI. The new taxonomy is a general purpose taxonomy capable of being used for filing annual financial statements for any Commercial & Industrial companies.
Implementation of XBRL The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Rajya Sabha that the Ministry has set up a committee in November 2011 comprising of XBRL experts and representatives from the corporate sector as well as the Institute of Chartered Accountants of India (ICAI) with the […]
XBRL (Extensible Business Reporting Language) is another advanced reporting language of the XML family. XBRL ensures that the figures reported to government authorities and other organisation does not remain dormant piece of printed papers but these figures can be used in data analysis.
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 […]
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.
