General Circular No. 37/2011 dated 07th June 2011 on XBRL Taxonomy

Posted Date : 15-Jun-2011 , 10:33:49 am | Posted By CASANSAAR print

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The Ministry of Corporate Affairs, in supersession of its earlier circular No. 9/2011 dated 31.03.2011, has mandated for following companies to file Balance sheet and Profit and loss Account along with Directors’ and Auditors’ Report for the year 2010·11 onwards by using XBRL taxonomy:

All companies listed in India and their Indian subsidiaries;
All companies having a paid up capital of Rs. 5 Crore and above:
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.

Category : Corporate Law | Comments : 2 | Hits : 1307

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PRIYANKA JAIN

18-Jun-2011 , 12:13:46 pm

I WANT TO KNOW HOW IT EXACTLY WORKS... DO I NEED TO PUCHASE XBRL SOFTWARE AND HOW TO FILE BS AND P N L IN XBRL FORMAT ,,ANY FORMS ARE AVAILABLE FOR THIS PURPOSE?