Is the XBRL filing is also mandatory for the foreign companies which have their liaison office and Branch office in India but incorporated outside India. and if yes then which form will required to file.. because e form -52 in xbrl format is not available?/
11 July 2012
No, the category foreign company is not required to file their annual return in XBRL. However, there is separate criterion to decide the same.
11 July 2012
Ministry has issued a Circular no. 16/2012 on 6th July, 2012 and decided that following class of companies shall file their Balance Sheet and Profit and Loss Account in XBRL mode for the Financial Year commencing on or after 1.4.2011:
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 crore and above; or 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.
13 July 2012
Sir one more thing about the same category company (foreign company), that the revised schedule VI should be mandatory while we converting the global accounts for filing the same with ROC. should we follow the revised schedule VI rules.
CAclubindia
