What is XBRL Filings?
XBRL means extensible Business Reporting Language means a standardized language used for the communication in electronic form to express, report or file financial information by the Companies under the Companies Act. It provides major benefits in the preparation, analysis and communication of business information.
Applicability of XBRL
The following class of Companies shall file their Financial Statement and other documents under section 137 of the Companies Act, 2013 using XBRL taxonomy for financial year commencing on or after 1st April, 2014, namely:-
All companies listed with any Stock Exchange(s) in India and their Indian subsidiaries; or.
All companies having paid up capital of Rupees five crore and above; or.
All companies having turnover of Rupees one hundred crores and above; or.
All companies which were hitherto covered under the Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Rules, 2011: