XBRL Filing in India: A Complete Guide

XBRL (eXtensible Business Reporting Language) is a globally accepted standard for the electronic communication of business and financial data.
In India, the Ministry of Corporate Affairs (MCA) mandates certain companies to file their financial statements and other documents in XBRL format.

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What is XBRL Filing?

XBRL filing is the process of preparing and submitting financial statements and reports in a computer-readable XML format using XBRL tags.
This standardisation:

• Improves accuracy
• Enhances transparency
• Facilitates easy analysis by regulators and stakeholders

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Applicability of XBRL Filing

As per MCA norms, the following companies must file in XBRL format:

1. All listed companies in India and their Indian subsidiaries.
2. Companies with paid-up capital ≥ ₹5 crore.
3. Companies with turnover ≥ ₹100 crore.
4. Companies required to prepare financial statements under Companies (Indian Accounting Standards) Rules, 2015 (Ind AS).
5. Any other company as may be notified by MCA.

Private companies meeting the above criteria are also covered.

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Forms Used for XBRL Filing

Form	Purpose
AOC-4 XBRL	Filing financial statements in XBRL format
CRA-4	Filing Cost Audit Report in XBRL format (if applicable)

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Due Dates for XBRL Filing

Form	Due Date
AOC-4 XBRL	Within 30 days from the date of AGM
CRA-4	Within 30 days from receipt of cost audit report

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Documents Required

• Audited financial statements (Balance Sheet, P&L, Notes)
• Director’s Report
• Auditor’s Report
• Cash Flow Statement (if applicable)
• Statement of changes in equity (if applicable)
• Cost audit report (for CRA-4)
• Board Resolution authorising filing

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Process of XBRL Filing

1. Check Applicability – Confirm whether the company falls under XBRL requirements.
2. Download MCA XBRL Validation Tool – Prepare the instance document using the prescribed taxonomy.
3. Tag Financial Data – Apply XBRL tags to financial statement items.
4. Validate – Run through MCA validation tool to remove errors.
5. Generate XML File – As per MCA schema.
6. Upload on MCA Portal – Along with required attachments.
7. Pay ROC Fees – Based on share capital.
8. Acknowledgment – Save SRN for future reference.

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Penalties for Non-Compliance

• Company: Fine of ₹1,00,000 + ₹500 per day of continuing default.
• Officer in Default: Fine of ₹25,000.
• MCA may also mark the company as non-compliant affecting other filings.

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Benefits of XBRL Filing

• Enhances reporting transparency
• Enables quick regulatory review
• Standardised data for better comparability
• Reduces chances of manual errors
• Facilitates better investor decision-making

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