Purpose: To mandate certain classes of companies to file their financial statements and other documents in eXtensible Business Reporting Language (XBRL) mode with the Registrar of Companies (ROC).
Applicability: The provision applies to all companies that are required to file their financial statements with the ROC under Section 129 of the Companies Act, 2013. Companies having a turnover of less than Rs. 100 crore or a paid-up capital of less than Rs. 5 crore in the previous year are exempted from this provision.
Timeline: The financial statements of the companies covered under this provision have to be filed in XBRL mode with the ROC within 30 days from the date of their AGM.
Forms: Companies have to file their financial statements in the Form AOC-4 XBRL.
Exemption: Companies which are required to file their financial statements in Form AOC-4 CFS are exempted from filing their statements in XBRL mode.
Penalty: In case of non-compliance with this provision, a penalty of Rs. 5,000 per day shall be imposed on the defaulting company until the default is rectified.
Due Date: The due date for filing the financial statements in XBRL mode is within 30 days from the date of the AGM.
Reporting Authority: Registrar of Companies (ROC) is the reporting authority for the filing of financial statements in XBRL mode.Section:
