Companies allowed to file the BS & P&L in XBRL mode for financial year 2011-12 latest by 15th Nov, 2012

General Circular No. 16/2012; No. 17/161/2012-CL-V

Government of India; Ministry of Corporate Affairs

Dated: July 6, 2012

All Regional Directors; All Regist rars of Companies

Subj ect :- Filing of Balance Sheet and Profit and Loss Account in Extensible Business Report ing Language (XBRL) Mode for financial year commencing on or after 1.4.2011.


Vide Companies (Filing of documents and forms in Extensible Business Report ing Language) Rules, 2011 not ified vide GSR No. 748E dated 5.10.2011, select 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 31st March, 2011.

2. It has now been decided by the Minist ry 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

(i) 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.

3. The applicable taxonomy as per Schedule VI of the Companies Act , 1956 has already been placed on the Ministry™ s website . The Business Rules, validation tools, etc. required for preparing the financial statements in XBRL format , as per the revised Schedule-VI and Account ing Standards, are under preparat ion and would soon be made available by the Minist ry. The actual date for enabling XBRL filing will be int imated separately.

4.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 15h November, 2012 or within 30 days from the date of their AGM, whichever is later.

5.Training Requirement: Stakeholders are advised to visit the Ministry™ s website XBRL/ index.html regularly to have training in XBRL on taxonomy related issues.

Yours faithfully,

(Sanjay Shorey)

Joint Director

profile image

About Taniya

Taniya | Associate

eMinds Legal Consulting Pvt. Ltd. is a Consulting Firm in India specialzing in Corporate Laws, Compliances, Secretarial, FEMA, Indirect Taxation, Cyber Laws & Contracts. The Firm comprises of a team of professionals of Company Secretaries, Lawyers and Chartered Accountants with an in-depth subject matter knowledge and participative industry experience of over 12 years.

Corporate Law Referencer

Recent Articles

Recent Legal updates

Recent Gst Updates