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TMI BlogFilling of Balance Sheet and Profit and Loss Account in eXtensible Business Reporting Language (XBRL) mod.X X X X Extracts X X X X X X X X Extracts X X X X ..... Filling of Balance Sheet and Profit and Loss Account in eXtensible Business Reporting Language (XBRL) mod. - News and Press Release Dated:- 9-6-2011 - News - Press Information Bureau Government of India Ministry of Corporate Affairs 08-June-2011 19:08 IST Filling of Balance Sheet and Profit and Loss Account in eXtensible Business Reporting Language (XBRL) mod The Ministry Of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Corporate Affairs in supersession of its Circular no.9/2011 dated 31.03.2011 and 25/2011 dated 12.05.2011, has mandated today that certain class of companies are required to file Balance sheets and Profit and loss Account along with Director s and Auditor s Report for the year 2010-11 onwards by using XBRL taxonomy. The Taxonomy Business Rules, Validity tools etc required for preparation the ab ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ove documents in XBRL format as the existing Schedule VI and Accounting Standards notified under the Companies (Accounting Standards) Rules, 2006 have been prepared and hosted on the website of the Ministry at www.mca.gov.in. The Frequently Asked Questions (FAQs) about XBRL have been framed by the Ministry and they are being annexed as Annexure I with this circular for the information and easy und ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erstanding of the stakeholders. To enable filing on XBRL by stakeholders, MCA-21 portal will have XBRL filing module by July, 2011. Actual date will be informed separately. Coverage in Phase I The following class of companies have to file the Financial Statements in XBRL Form only from the year 2010-2011: i) All companies listed in India and their Indian subsidiaries; ii) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... All companies having a paid up capital of Rs.5 crore and above iii) All companies having a turnover of Rs.100 crore and above. However banking companies, insurance companies, power companies and Non Banking Financial Companies (NBFCs) are exempted for XBRL filing, till further orders. Additional Fee Exemption All companies falling in Phase I whose Balance Sheets are adopted in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Annual General Meeting held before 30.09.2011 are permitted to file upto 30.09.2011 without any additional filing fee. However, where companies hold the Annual General Meeting in the month of September 2011, they will file the Balance Sheet within 30 days from the date of adoption in the General Meeting as per section 220 of the Companies Act, 1956. Training Requirement Stakeholders desirous ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to have training on the XBRL or on taxonomy related issues, may contact the persons as mentioned in Annexure II. ***** AKT/ - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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