XBRL, an abbreviation for eXtensible Business Reporting Language.

XBRL filing is an electronic form of communication with respect to the business data, financials and reporting by the Companies. The process is a technique used to read the data, for presentation and reporting purpose. This does not lead to any modification in the content which is to be reported. The data is read using taxonomy and instance documents.

Taxonomy – It is concerned with the elements classification and its relationship based on regulatory requirements. Using taxonomy, the Companies map their financial reports prescribed by the Regulators and generate a valid XBRL instance document further used for filing purpose.

Instance document – It is the business report generated in an electronic format per the XBRL Rules. It consists of the facts that are defined by the elements in the taxonomy with values and contexts. It should be linked to at least one taxonomy which should be either contexts, labels, values or references.

Applicability

Per the provisions of Section 137 of the Companies Act, 2013 read with Companies (Filing of Documents and Forms in XBRL) Rules, 2015, the below stated class of Companies shall file their financial statement and other documents with the Registrar in e-form AOC-4 XBRL:

• All Companies which are listed on the stock exchange in India
• All Companies having a turnover of INR 100 crores or above.
• All Companies with a paid-up capital of INR 5 crores or above.
• All the Companies which are required to prepare their financial statements in accordance with the Companies (Indian Accounting Standards) Rules, 2015.

Exemptions

The Companies below are exempted from XBRL filing per Companies Act, 2013 and in accordance with Companies (Indian Accounting Standard) Rules, 2015.

1. Insurance Companies
2. Non-banking Financial Companies
3. Banking institutions
4. Housing Finance Companies