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SANTOSH SHAH (Company Secretary)     13 May 2011

MCA Circular: Correction to Circular on XBRL Filing B.S and P/L

Dear Members

Please find attached MCA Circular 25/2011 Dated 12.05.2011 which is Corrigendum to Circular No.09/2011 dt 31.03.2011.

Kindly take  note of the same.

 

Filing of B/S & P/L  in XBRL Mode

The filing of B/s & P/L in XBRL Mode is applicable to :

1. All companies Listed in India and its Subsidiaries

2. Paid up share capital of 5 Cr & Above or Turnover of100 Crore or Above

 

Exception:-

The above mode of filing is not applicable to :

1. Banking Companies

2. Insurance Companies

3. Power Companies

4. NBFC

5. Overseas Subsidiaries.

 

regards

Santosh Shah

 



 16 Replies

Suresh Prasad

Suresh Prasad (www.aubsp.com)     13 May 2011

1 Like
vinay

vinay (CS)     13 May 2011

as i got from this circuler is that it is applicable to only listed companies having paid up capital 5 crore and above or turnover of Rs. 100 crore or above

mean to say that it is applicable only to listed companies.

please clarrify

SANTOSH  SHAH

SANTOSH SHAH (Company Secretary)     13 May 2011

Originally posted by : vinay

as i got from this circuler is that it is applicable to only listed companies having paid up capital 5 crore and above or turnover of Rs. 100 crore or above

mean to say that it is applicable only to listed companies.

please clarrify

 

 Yes Vinay. Only Listed Companies & its subsidiaries with the above PSC or Turnover Limit.

 

regards

Santosh Shah

CS Ankur Srivastava

CS Ankur Srivastava (Company Secretary & Compliance Officer)     13 May 2011

Thanks for sharing and clarifying....

nilesh

nilesh (service)     11 June 2011

Dear Members,

No, it is applicable to all companies having paidup share capital of Rs.5crs and more and having the turnover of Rs.100crs and more. And not only listed companies are covered as mentioned by some of our dear members.

Deepak Sahni

Deepak Sahni (CA in Practice)     17 June 2011

Originally posted by : nilesh


Dear Members,

No, it is applicable to all companies having paidup share capital of Rs.5crs and more and having the turnover of Rs.100crs and more. And not only listed companies are covered as mentioned by some of our dear members.

 How DO You Know Brother?????

Yogesh Shah

Yogesh Shah (Managing Corporate Finance)     18 June 2011

Hi Guys,

Nilesh is right. One of our client is a public company and not listed. Paid up capital is also less than 5 crores. But still we got the e-mail from MCA that this company is required to report under XBRL since its turnover is around 400 crores means exceeding 100 crores limit.

Hence, all three conditions are separate and if any one is fulfilled, company shall have to report under XBRL.


Guys ... does anybody know practical things about XBRL. I am totally blank about its practical aspect means how to tag, how to apply taxonomy? etc. etc. ... If anybody knows about this, please reply.

vinay

vinay (CS)     20 June 2011

Dear all,

a new circular has been issued in this regard by MCA superceeding earlier two circulars

In first circular Dated 31 March 2011 Ministry of Corporate Affairs included three types of companies
I) listed company,
ii) Company having paid up capital of 5 crore and
iii) Company having turnover of 100 crore,

By circular Dated 12 May 2011 Ministry of Corporate Affairs decided to change the applicability of XBRL and it was decided that XBRL format will be applicable only on listed company which is having paid-up capital of 5 crore or more.

By circular Dated 7 June 2011 Ministry of Corporate Affairs superseded the earlier circulars Dated 31 March 2011 and 12 May 2011 and Ministry of Corporate Affairs decided to change the applicability of XBRL and it was decided that XBRL format will be applicable on these company i) listed company, ii) company having paid up capital of 5 crore and iii) company having turnover of 100 crore.


Attached File : 522121 744119 circular dated 7 june 2011.pdf downloaded: 491 times
Yogesh Shah

Yogesh Shah (Managing Corporate Finance)     20 June 2011

 

Originally posted by : Yogesh Shah

Hi Guys,


Nilesh is right. One of our client is a public company and not listed. Paid up capital is also less than 5 crores. But still we got the e-mail from MCA that this company is required to report under XBRL since its turnover is around 400 crores means exceeding 100 crores limit.


Hence, all three conditions are separate and if any one is fulfilled, company shall have to report under XBRL.





Guys ... does anybody know practical things about XBRL. I am totally blank about its practical aspect means how to tag, how to apply taxonomy? etc. etc. ... If anybody knows about this, please reply.
 

 [With respect to my this reply]

What we have to do now? Whether we require to intimate ROC or MCA that our client is no longer covered under XBRL category? or shall we just ignore MCA's e-mail?

vinay

vinay (CS)     20 June 2011

Mr. Yogesh , your client have to report thier financial data in XBRL format because his turnover is more than 100 crore

Yogesh Shah

Yogesh Shah (Managing Corporate Finance)     22 June 2011

Hi Mr. Vinay,

 

If you refer the latest MCA circular, where they have mentioned that unlisted companies now are not required to report under XBRL. What about this?

 

From said circular, it is clear that 5 crores paid up cap and/or 100 crores turnover limits are only for listed companies. And our client is unlisted company.

vinay

vinay (CS)     23 June 2011

Dear sir,

please read cicular 37/2011 dated 12 june 2011 that i have attached in earlier file there is clearly mentioned that it will be applicable on three type of companies, in earlier circular it was applicable to only listed companies but by this new circular it is applicable on three type of companies and accordingly MCA has mark the mail to those companies.

CS Premjith

CS Premjith (Company Secretary)     17 September 2011

superb...


(Guest)

Now as per MCA specifications, XBRL filing of financial statements is mandatory for certain class of companies.

MCA Taxonomy and XBRL Instance Document

MCA has provided the Taxonomy which forms the basis for tagging financial and business information in XBRL. XBRL Taxonomy is an electronic classification system of tags defining thousands of business reporting concepts (including Text) and their relationships.

Valid Up to 30th September, 2011
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