Listed companies and their Indian subsidiaries, and companies with paid-up capital of Rs 5 crore or more or turnover of Rs 100 crore or more, must file financial statements with the ROC in XBRL format through Form AOC-4 XBRL. Financial statements are tagged using MCA's taxonomy, validated with the MCA tool and filed within 30 days of the AGM. Banking, insurance and certain NBFCs are exempt.
Applicability
- Listed companies and Indian subsidiaries
- Paid-up capital of Rs 5 crore or more
- Turnover of Rs 100 crore or more
- Companies required to prepare Ind AS statements
Process
- Prepare audited statements.
- Tag with MCA taxonomy.
- Validate with MCA tool.
- Attach to AOC-4 XBRL and file.
Common errors
- Wrong taxonomy
- Mismatch with PDF statements
- Missing tags for notes
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Frequently asked questions
Is XBRL needed for cost audit reports?
Cost audit reports are filed in XBRL where applicable.
Are NBFCs exempt?
Certain NBFCs and banking and insurance companies are exempt from XBRL filing.
Who prepares XBRL files?
Companies or professionals using XBRL software.
Is certification required?
Yes, by a practising professional.
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