Applicability of xbrl filing of financial statement

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Mangesh Narvekar (Querist)

03 September 2016 If in the last year (FY 2014-15) PRIVATE LIMITED company was required to file financial statement through XBRL mode due TURNOVER WAS ABOVE RS. 100 CR (Paid up capital is less than 5 Cr) and in current year (FY 2015-16) company's TURNOVER IS LESS THAN RS. 100 CR, then whether company is applicable to file the financial statements of current year (FY 2015-16) in XBRL mode?

ACA Anurag

ACA Anurag (Expert)

03 September 2016 Dear Mangesh, .If consolidation is applicable only for previous year and not for current year, then consolidated financial statements of previous year to be attached in pdf format and standalone financial statement is to be attached in XBRL mode. In such case, select 'NO' in the field 'whether consolidated balance sheet is also being filed' and provide the consolidated financials in pdf format as an 'optional attachment'. Hope your query is resolved Kindly like if my response has helped you

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Mangesh Narvekar

Mangesh Narvekar (Querist)

04 September 2016 Dear Sir, consolidation of accounts is not applicable as it has no any subsidiary and its not a subsidiary of any company. Just I need clarification that if last year on the basis of turnover (Exceeded Rs. 100 Cr) the company had filed statements in XBRL mode and in the current year company has not crossed turnover limit (Below Rs. 100 Cr i.e. Rs. 70 Cr), in such case whether company should continue to file in XBRL mode or not? As per my knowledge there is no any clarification notification or circular regarding this issue, only there is mention in FAQ of XBRL that in such case MCA recommends to continue to file in XBRL mode. Then what to do? Please guide me.

ACA Anurag

ACA Anurag (Expert)

04 September 2016 Dear Mangesh, If u dont have any subsidiary then it's advisable to file through XBRL mode. Hope your query is resolved Kindly like if my response has helped you

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