9. XBRL Filing

XBRL Filing – Simplifying Financial Reporting for Your Business

Do you want your company’s financial data to speak the global business language? Welcome to our XBRL (eXtensible Business Reporting Language) Filing Services — where accuracy, compliance, and transparency go hand-in-hand. As your trusted Company Secretary, we help you meet regulatory requirements while saving time, avoiding penalties, and enhancing investor confidence.

What is XBRL Filing?

XBRL is a digital format used for the electronic filing of financial statements with the Ministry of Corporate Affairs (MCA). It converts your traditional balance sheets and profit & loss accounts into a structured, machine-readable format, making your data accessible, comparable, and compliant.

📌 Why is XBRL Filing Important for Companies?

Mandatory Compliance: Required by MCA for certain class of companies.

Improved Transparency: Helps regulators, banks, and stakeholders easily interpret financial data.

Error Reduction: Automates reporting, minimizing manual errors.

Faster Decision-Making: Easier analysis by investors and authorities.

🏢 Who Needs to File in XBRL?

XBRL filing is mandatory for:

All Listed Companies in India

Companies with Paid-up Capital ≥ ₹5 Crores

Companies with Turnover ≥ ₹100 Crores

Companies required to file their Financial Statements under Section 137 of the Companies Act, 2013 in XBRL format.

(Exclusions: Non-Banking Financial Companies, Housing Finance Companies, and companies engaged in banking and insurance.)

🗂️ Types of Reports Filed in XBRL

Balance Sheet

Profit & Loss Account

Cash Flow Statement

Statement of Changes in Equity

Notes to Accounts

Our End-to-End XBRL Filing Services Include:

✔ Conversion of Financials into XBRL format

✔ Tagging and Validation of Financial Data

✔ Generating & Reviewing XBRL Instance Documents

✔ Pre-Scrutiny and Filing with MCA Portal (Form AOC-4 XBRL)

✔ Expert Review to Ensure 100% Compliance

✔ Timely Filing to Avoid Late Fees or Penalties

📅 When to File?

The due date for XBRL filing is within 30 days from the date of AGM (Annual General Meeting).

⚠️ Penalties for Non-Compliance

Delay in XBRL filing can attract heavy penalties ranging from ₹100 per day.

May also result in regulatory scrutiny or MCA notices.

📌 Legal Framework & Compliance Reference:

Section 137 of the Companies Act, 2013

Rule 12(2) of the Companies (Accounts) Rules, 2014

Filing Form: AOC-4 XBRL

Taxonomy Used: As prescribed by MCA – based on Indian Accounting Standards (IND-AS) or Companies (Accounting Standards) Rules depending on the entity.

📎 Documents Required for XBRL Filing:

To initiate XBRL conversion and filing, we usually require the following:

Audited Financial Statements (in PDF/Word/Excel)

Notes to Accounts

Auditor’s Report

Director’s Report

Cash Flow Statement (if applicable)

AGM Date and Board Resolution

Previous year’s XBRL file (for comparison, if available)

Digital Signature Certificate (DSC) of Director or Authorized Signatory

🛑 Common Challenges in XBRL Filing (and How We Help):

🔄 Annual XBRL Filing Process Flow (for client understanding):

Initial Discussion & Document Collection

Assessment of Applicability & Taxonomy

Data Structuring & XBRL Conversion

Tagging & Technical Validation

Review & Client Confirmation

Digital Signing

Filing AOC-4 XBRL on MCA Portal

Acknowledgement & Filing Confirmation

Optional Add-on Services :

XBRL conversion for group companies or consolidated financials

XBRL training or advisory for internal teams

Rectification filing (in case of previous incorrect XBRL filings)

Post-filing support for MCA queries or resubmissions

💼 Why Choose Us?

Professional Expertise: Managed by certified Company Secretaries.

Accurate Tagging & Mapping: Ensuring error-free submissions.

⏱️ Timely Delivery: Never miss a compliance deadline.

🔐 Confidentiality Assured: Your financial data is safe with us.