Live Course on Drafting of Appeal and Reply of Penalty Notice by CA Sachin Sinha. Register Now!!

Xbrl related query

raveena jayant galande (Article) (48 Points)

24 March 2012

I have a query related XBRL.

On MCA's website of XBRL, in FAQs Column, it has been said that Power Companies are exempted from XBRL filing for the year 2010-11 irrespective of whether Schedule VI of the Companies Act, 1956 is applicable to them or not. Also, those Power Companies to whom Electricity Act, 2003 is applicable, are exempted from XBRL filing for the year 2010-11.

Now, my query is if any Power Company has not started any operation, still it will be exempt from XBRL filing?

Plus, which Companies comes under the perview of Electricity Act, 2003?

Please reply to my query. Its urgent.

Reply
Follow
Share

2 Replies

Naveen Garg (CA ) (96 Points)
Replied 24 March 2012

Ya power companies are exempt from XBRL filing whether it has started its operations or not.

Try to understand the logic of exemption, they are exempted because for reporting of these specific sector seperate taxonomy will be required which is not possible with existing C&I Taxonomy.

Hence they are exempt irrespective of limits and operations.

Hope it will help.

Thank & Regards

CA Naveen Garg

+919910332115,
www.linkedin.com/in/naveen2115

1 Like

CS Ankur Srivastava (Company Secretary & Compliance Officer) (17848 Points)
Replied 26 March 2012

Any company falls under the power company category is exempted from filing under XBRL mode under phase I, irrespective of turnover, operations and anything.

1 Like