The taxonomy developed by the MCA. The taxonomy is based on Schedule VI requirements, Accounting Standards issued by ICAI, MCA specific requirements and other regulatory requirements. . The current version of taxonomy is for Commercial and Industrial companies. The details of MCA taxonomy and the entry-point are explained in the taxonomy section of the filing manual.
The concepts as reported by the company in its reports are also referred as line items.
It is the process of assigning tags (referred as elements in taxonomy) from the taxonomy to the company specific reporting concepts. Along with XBRL tags, other information like reporting period, currency, scale etc. also needs to be specified for all the reported concepts which are to be included in the taxonomy. Tagging required appropriate selection of elements from the taxonomy based on its attributes, documentation and relationships with other elements.
Text Block Tagging
This indicates capturing a group of information as one single fact, using one single tag from the taxonomy. Presently, information given in Notes to Accounts which appear in many paragraphs will be tagged completely under the data type Text Block.
This implies capturing the granular information or the specific information as reported by the companies. The filing manual lists down all the information requirements which have to be tagged and captured in detail in the instance documents. This information should be captured by entities, if it is applicable to them and prepared by them as part of annual report or annual returns as submitted to MCA
Minimum tagging requirement
The scope of information that is at least to be captured in XBRL format in the instance document. The information prescribed as minimum tagging requirement in this filing manual, should be captured by entities, if it is applicable to them and prepared by them as part of annual report or annual returns as submitted to MCA
The tags as included in the MCA taxonomy, for which values have to be necessarily included in the instance document. If there is no corresponding value for the tag, then “0” should be entered.
Calculation inconsistency error
The taxonomy has predefined mathematical rules between accounting concepts, which is stored in calculation linkbase. The values which are included in instance documents are checked for correctness based on the rules defined in calculation relationship. If the values for totals and sub-totals do not match as per calculation linkbase, the XBRL software will highlight the same as calculation inconsistency