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XBRL Filing
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XBRL Filing
eXtensible Business Reporting Language (XBRL) is a global digital standard for financial data communication that standardizes, automates, and simplifies company financial statement reporting. The Ministry of Corporate Affairs (MCA) mandates certain companies to file financial statements electronically via e-Form AOC-4 XBRL using MCA-prescribed XBRL taxonomy with the Registrar of Companies (ROC) for better accuracy, transparency, and efficiency.
Who Must File XBRL?
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Per Companies (Filing Of Documents And Forms In XBRL) Rules 2011 & 2017:
- All public companies listed on Indian stock exchanges and their Indian subsidiaries
- Companies with annual turnover of ₹100 Cr or more
- Companies with paid-up capital of ₹5 Cr or above
- Companies required to prepare financial statements under Ind AS (Indian Accounting Standards)
Exemptions: NBFCs, housing finance, insurance, and banking companies. Once started, XBRL filing continues even if criteria are no longer met.
Necessary Documents for AOC-4 XBRL
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- Balance Sheet and Income Statement
- Cash Flow Statement and Supporting Schedules
- Board Report, Auditor's Report, and Annual Report(s)
- Consolidated Financial Statements
- Statement of Subsidiaries (Section 129)
- CAG Comments (if applicable)
These documents ensure complete, certified, and legally compliant financial information submission.
Cost Audit & Compliance Reports
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Since 2012, companies under Cost (Accounting Records) Rules, 2011 or specific cost audit orders must file cost audit reports in XBRL format. The company prepares the XBRL instance document, which the cost auditor reviews, certifies accuracy, and files electronically with government signature.
XBRL Taxonomy & Instance Document
XBRL Taxonomy defines reporting elements and their relationships. Companies must accurately map financial data to taxonomy elements to create valid XBRL instance documents for regulatory compliance.
Benefits of XBRL Filing
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- Automated and accurate data collection
- Rapid analytical insights availability
- Significant cost and time savings
- Secure and reliable data handling
- Improved decision quality through standardized reporting
XBRL enhances corporate reporting quality and efficiency through automation and data standardization.
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