Revised xbrl business rules and validation tool

Ministry of Corporate Affairs has revised the XBRL Business Rules, XBRL Validation Tool Version 1.1.1 and Filing Manual Version 1.2.

Inter alia , Following changes have been done in the revised XBRL Business Rules and Validation Tool:

1. In Generic business rule # 9, it is mentioned that all dates entered in the instance document should be greater than the date of incorporation of the filing company. The same has been modified to 'greater than or equal to the date of incorporation' as the existing rule might not be applicable for companies which are incorporated during the year.
2. As per the business rule, in element SRN of Form23B, it should be valid SRN of Form 23B and should be associated with the company. However there can be cases where the company is not required to file Form 23B for appointment of auditor. For example: In case of first auditors of the company. To cater to such cases, it is required to allow Z99999999 in the element for SRN of Form 23B.
3. Generic business rule 5 states that 'If any financial element is entered in current year then it shall be mandatory to enter corresponding previous year and vice-a-versa.' However this shall not be applicable to the elements-NetDeferredTaxLiability, NetDeferredTaxAsset. This is required as for a particular year; either of these elements could be there. However, it may happen that a company is having NetDeferredTaxAssets in previous year and NetDeferredTaxLiability in current year. Therefore this validation is required to be relaxed for these elements.
4. As per the business rule, element for CIN of Joint Venturer is mandatory in case country of Joint venturer is India. However, in case the joint venturer is a non company (like partnership firm), then CIN shall not be available. Therefore this validation needs to be removed.
5. ‎Following text elements needs to be made mandatory –

a. For Notes - Element – DisclosureOfBasisOfPresentationExplanatory

b. For Director report - Element – DisclosureInBoardOfDirectorsReportExplanatory

c. For Auditor report - Element – DisclosureInAuditorsReportExplanatory

These shall be mandatory in case of standalone balance sheet instance document and that also for the current year only.

6. In Specific business rules sheet, Element SRN Of Form 66 – In the earlier validation, the limit of 10 lakhs was wrongly mentioned as 1 lakh, the same has been corrected now.

Please download the latest XBRL Validation Tool and use the same to validate the instant documents.