XBRL Filing in India

XBRL is a tool which helps in analyzing all financial & other technical data in a systematic manner. It makes all technical information & data readable & we would not require segregating the information for analysis. It requires tagging of all financial data electronically through software which makes data readable.

Earlier Companies used to prepare & file all financial information in different format like word, Excel, Pdf which one can read but to analyse them, if Companies wants to have information collated at one place then they didn’t have any tool for that.

All types of companies can use XBRL tool to automate the data collection process and distribution to various stakeholders.

XBRL, being flexible, can be adapted to a wide variety of requirements. All stakeholders, users of business data in the financial information supply chain can benefit from the use of XBRL.

Eligibility criteria for XBRL Filing in India

As per section 137 of the Companies Act, 2013, following companies are required to file XBRL via E FORM AOC-4

• Net worth exceeding INR 500 Crore
• Annual Turnover exceeding INR 1000 Crore
• Net profit exceeding INR 5 Crore
• All Companies which are covered under (Extensible Business Reporting Language) Rules, 2011

Documents required for Filing XBRL in India

Document requirements for filing XBRL in India

In regard to XBRL Filing following documents are need Documents Required for Filling Financial Information Through XBRL?

• Balance-Sheet
• Profit & Loss Account
• Notice of AGM, Company’s Directors’ report & Auditors’ report
• Details of shareholding of the company for filing e-form MGT-7
• Details of Share holders
• Documents Required for Filling Cost Audit Report Through XBRL:
• Cost Audit Report in form CRA-3
• Challan of CRA-2 filed for appointment of Cost Auditor

Process for Filing XBRL in India

The process of filing XBRL is a simple one. The process is as follows:

• Gathering the required financial statements
• Creating the XBRL document
• Uploading the document at the MCA website

Our Assistance to file the XBRL Filing in India

We, at UST Associates provide end to end solutions for filing XBRL Filing.

UST Associates will file your financial statements on your behalf by generating XBRL based statements for your company.

UST Associates's dedicated Accounting Advisory Services provides an accounting services to clients across industry sectors. Our team includes professionals with experience in accounting and financial reporting principles and processes, including XBRL.

UST Associates is a leading legal consultancy firm providing the comprehensive services relating to XBRL Filing.

Contact us now if you seek XBRL Filing without any hassle.