XBRL is a data-rich dialect of XML (Extensible Markup Language), the universally preferred language for transmitting information via the Internet. It was developed specifically to communicate information between businesses and other users of financial information, such as analysts, investors and regulators. XBRL provides a common, electronic format for business reporting. It does not change what is being reported. It only changes how it is reported
XBRL is only a method of presentation or reporting. It does not attempt to make any changes in the content to be reported. The idea behind XBRL is simple. Instead of treating financial information as a block of text – as in a standard internet page or a printed document – it provides an identifying label (tag) for each individual line item of data. This data then becomes computer readable.
Applicability of XBRL filing on Companies:
Following companies shall file their financial statements and other documents under section 137 of the Companies Act, 2013 with the Registrar in e-form AOC-4 XBRL:
Companies Exempted from XBRL Filings:
DOCUMENTS REQUIRED FOR COMPANY ANNUAL FILING
Package 1 : XBRL filing allongwith Filing of Form Aoc-4 & Mgt-7
1. Conversion of Data into XML File.
2. Filling of Form AOC-4 and MGT-7.
3. Paid Challan of AOC-4 and MGT-7.
Package 2 : XBRL filing with Complete ROC Filing
1. Conversion of Data into XML File.
2. Filling of Form AOC-4 and MGT-7.
3. Paid Challan of AOC-4 and MGT-7.
4. Drafting of Notice, Directors Report and Annual Returns
5. Filing of Form ADT-1 for appointment of Directors.
6. Filing of Annual KYC Forms of Both director’s allongwith Challans.
Package 3 : XBRL filing with Complete Annual Audit & ROC Filing
1. Conversion of Data into XML File.
2. Filling of Form AOC-4 and MGT-7.
3. Paid Challan of AOC-4 and MGT-7.
4. Drafting of Notice, Directors Report and Annual Returns
5. Filing of Form ADT-1 for appointment of Directors.
6. Filing of Annual KYC Forms of Both director’s allongwith Challans.
7. Audited Financials Balance Sheet & Profit & Loss Account allongwith Auditors Report.
8. Copy of ITR
XBRL offers major benefits at all stages of business reporting and analysis.
The benefits are seen in
Minimum Time Required- 7 Days.
Ezzus India India
Conversion of Financial into XML Form + Filing of Annual ROC Return (Form of AOC-4 , Form MGT-7)
Ezzus India India
1. Conversion of Financial into XML Form
2. Filing of Annual ROC Return (Form of AOC-4 , Form MGT-7, Form ADT-1, Form DIR-3KYC of 2 Directors)
3. Drafting of (Director's Report, Notice of AGM, Extract of Annual Returns, Complete list of Directors and shareholders with modification during the year.)
Ezzus India India
1. Conversion of Financial into XML Form
2. Filing of Annual ROC Return (Form of AOC-4 , Form MGT-7, Form ADT-1,Form DIR-3KYC of 2 Directors)
3. Drafting of (Director's Report, Notice of AGM, Extract of Annual Returns, Complete list of Directors and shareholders with modification during the year.)
4. Preparation and Audit of (Balance Sheet, P & L Accounts, Audit Report, Income Tax Returns (Company).
5. Filing of ITR of Company
What is full form of XBRL?
The full form of XBRL is “EXTENSIBLE BUSINESS REPORTING LANGUAGE”
Which Companies have to File Their Financials into XBRL filing ?
Following companies shall file their financial statements and other documents under section 137 of the Companies Act, 2013 with the Registrar in e-form AOC-4 XBRL:
Which Companies are Exempted from XBRL Filings?
What are the Advantages of XBRL Filing?
WHAT DOCUMENTS ARE REQUIRED FOR COMPANY XBRL FILING