The ministry of corporate affairs (MCA) has decided to make it mandatory for companies to file their returns with the Registrar of Companies using XBRL (eXtensible Business Reporting Language), according to two ministry officials with knowledge of the matter.
“The first phase of filing returns using XBRL will be effective from 1 July and later it will be extended to all 900,000 companies,” said an MCA official, who did not want to be identified. The ministry will decide which class of companies will be asked to adopt XBRL first in a couple of days, the official said.
Please read the full news article published in today's Mint at the following Web Link:-
https://www.livemint.com/2011/03/02205745/XBRL-to-be-made-mandatory-for.html?atype=tp
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