When XBRL apply for your Company ?(GAURAV+919990694230)

Applicability of XBRL (Extensible Business Reporting): General Circular No. 16/2012 Dated: 06.07.2014. Vide Companies (Filing of documents and forms in Extensible Business Reporting Language) Rules, 2011 notified vide GSR No. 748E dated 5.10.2011, following class of companies are required to file their Balance Sheet and Profit & Loss Account and other documents as required u/ s 220 of Companies Act, 1956 with the Registrar of Companies for the financial year ending on or after 31 st March, 2011 in XBRL format. a) All companies listed with any Stock Exchange(s) in India. b) Subsidiaries on any company listed with any Stock Exchange(s) in India. c) All companies having Paid up Capital of Rupees 5 Crore (five crore) and above. d) All companies having Turnover of Rupees 100 Crore (one hundred) crore and above. Companies Exempt from XBRL requirements: a) Banking Companies- That are regulated by RBI b) Insurance Companies- That are regulated by IRDA c) Power Companies d) Non-Banking Financial Companies MCA FAQ’S: 1. If a Company had done voluntary filing in XBRL mode last year (FY 2010-11), though the same was not required to be done by the company. Whether now it is compulsory for the company to file its financial statements in XBRL Sol: MCA recommends that a company which has done filing in XBRL mode last year on voluntary basis should continue to do so in subsequent years as well. However in case the company does not want to voluntarily file in XBRL for FY 2011-12, then it may request for exemption from the Ministry 2. Does the subsidiary of a subsidiary of a listed company also need to file in XBRL? Sol: Yes, all Indian subsidiaries (including subsidiary of a subsidiary) of a listed company are mandated to file their financial statements in XBRL. 3. Is the consolidated financial statement of a listed holding company alone is required to be filed in XBRL or the subsidiaries also need to file their financials in XBRL? Sol: The listed holding company has to file its standalone and consolidated financial statement (if applicable) in XBRL. Its Indian subsidiaries also need to file their financial statements in XBRL. 4. What about non exempt subsidiary of exempt holding company? Sol: Non-exempt subsidiaries of exempt parents (e.g. shared service center or broking subsidiary of a bank) are covered since such companies file Schedule VI financial statements and are covered by the current taxonomy. Found Circular for the same on