Vide General Circular No: 16/2012 dated 6th July 2012, Ministry of Corporate Affairs has decided that companies falling in the following categories will have to file their Balance Sheet and Profit & Loss Account under section 220 of the Companies Act, 1956 using the Extensible Business Reporting Language (XBRL) taxonomy for financial year commencing on or after 01.04.2011:-
- 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.
For details, kindly see Ministry’s General Circular No: 16/2012 dated 06.07.2012 and 34/2012 dated 25.10.2012