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Everything to know about XBRL Filing Procedure and more details

Almost all company is required to use Xbrl to report their compliance to the Ministry of Corporate Affairs. The XBRL format, which is commonly used in corporate firms, is an encrypted means to transmit financial information about a company to the government, which is done with the use of the software. The xbrl filing online must be completed on time, and we have provided the timetable of xbrl filing due date completing the in accordance with the xbrl mca requirements and xbrl filing applicability 2021.

If you find any difficulty in xbrl filing procedure connect with ca near you they will provide you XBRL Filing Services.


Introduction to xbrl filing online

The full form of XBRL is “EXTENSIBLE BUSINESS REPORTING LANGUAGE”. In different countries, it is already being set to practical application and Xbrl implementations are increasing rapidly around the world. XBRL is a business reporting language for e-communication of financial and commercial data. It is a standardized electronic communication language for companies to describe, report, and file financial statements.

XBRL, on the other hand, is merely a presentation or reporting format. It does not attempt to alter the content that will be reported. Different ca and cs companies like LegalPillers provide XBRL Filing Services. Grab the offers now!!!


Xbrl filing requirements: xbrl filing applicability 2021

XBRL Filing

Under section 137 of the Firms Act, 2013, the following types of companies must file their financial statements and other documents with the Registrar in E-form AOC-4 XBRL:

  1. All public businesses and their Indian subsidiaries are listed on the Indian stock exchange.
  2. All businesses with a turnover of Rs 100 crores or more are eligible.
  3. All firms having a paid-up capital of Rs 5 crores or more are eligible.
  4. All businesses must prepare financial accounts in compliance with the Companies (Indian Accounting Standards) Rules, 2015.

Non-banking financial companies, housing finance companies, and banking and insurance businesses, on the other hand, are excused from filing financial statements under these requirements.

Furthermore, companies who have filed financial statements in XBRL under section 137 must continue to file their financial statements and other documents in XBRL alone, even if they no longer fit under the above-mentioned class of companies.


How does Xbrl work?

With the assistance of two papers, Xbrl makes the information readable:

  1. Taxonomy
  2. Instance document

Based on regulatory criteria, taxonomy describes the elements and their relationships. Companies must map their reports and build a compliant XBRL instance document using the taxonomy required by authorities. The mapping procedure entails matching the company’s reported concepts to the taxonomy’s relevant element. In addition to applying an XBRL tag from the taxonomy, the instance document must include information such as a unit of measurement, data period, reporting scale, and so on. For more assistance in XBRL Filing Services, you can take the help of CA Services.


Benefits of XBRL Filing Services

There are various xbrl filing requirements but it comes with lots of benefits. The preparation, analysis, and distribution of company data are all aided by XBRL filing. All parties involved in supplying or using financial data benefit from cost reductions, increased efficiency, and enhanced accuracy and reliability. eXtensible Business Reporting Language (XBRL) is an acronym for eXtensible Business Reporting Language. It is already being used in a number of countries, and XBRL Filing implementations are fast increasing around the world.

The first three categories of XBRL Filing applicability in the 2015 XBRL Rules were the same. There was one more category, which included “all corporations that were previously covered by the Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Rules, 2011.”

As a result, a company that was previously required to file a financial statement in XBRL but is no longer subject to the applicable limit. Under the 2017 Amendment Rules, such corporations are exempt from filing financial statements in XBRL format.


Companies that comply with the xbrl mca: Filing requirements with MCA

Under section 137 of the Companies Act, the Ministry of Corporate Affairs has made it essential for companies to file their financial documents and financial statements in AOC-4 XBRL Format:

  1. All firms have stock exchange listings in India, as well as their Indian subsidiaries.
  2. Companies with a paid-up capital of at least Rs 5 crore.
  3. Companies with a minimum revenue of Rs 500 crore.
  4. All businesses must prepare financial accounts in compliance with the Companies (Indian Accounting Standards) Rules, 2015.


Why choose xbrl filing procedure for Business?

The MCA XBRL Validation Tool ensures that only those XBRL documents that match the Taxonomy and Business Rules standards are registered with MCA under section 220 of the Companies Act, 1956. The MCA Validation Method is an important tool for improving the integrity of financial data and disclosures in XBRL.

Validation of the instance document is required before filing the balance sheet and profit and loss account on the MCA portal.

Fortunately, it should be noted that a good validation of an XBRL document by the MCA Validation Tool does not imply that the criteria of Section 211 of the Companies Act, 1956 have been fully met.

It is necessary to presume that this ‘verified’ XBRL document also provides an accurate and reasonable representation of the company’s state of affairs, based on the financial statements presented at the AGM. The MCA XBRL Validation Tool also provides a ‘human-readable’ pdf version of the XBRL document for easy review and approval of the XBRL document submitted by the company to the MCA. With help of ca or cs xbrl filing online services, customers have quick access to an expert services team that works closely with their company accounting staff to prepare and plan all of their SEC and Collaborative Data XBRL submissions, engaging and cooperating at every stage of the process.


Documents required for filling xbrl mca

The documents listed below must be filed in XBRL format:

  • A balance sheet
  • Profit and Loss Statement
  • Cash Flow Statement
  • Balance Sheet and Profit and Loss Statement related schedules.
  • Accounts receivable notes
  • Statement relating to subsidiaries made under Section 212 of the Companies Act, 1956.
  • Annual Report and Audit


Xbrl filing procedure


After understanding, the xbrl filing applicability 2021 you must concentrate on the xbrl filing procedure.The following is the procedure for creating and filing Financial Statements in XBRL mode:

The first step is to create an XBRL instance document.

Step 2: Go to the MCA portal and download the XBRL validation tool.

Step 3: Validate the example document with the tool.

Step 4: Use the tool to do a pre-scrutiny of the verified instance document.

Step 5: Attach the example document to the AOC-4 XBRL Form.

Step 6: Using the MCA portal to submit Form AOC-4 XBRL (xbrl mca).



Xbrl filing due date for FY 2020-21

E-form Names              Purpose of E-form Xbrl filing deadline Xbrl filing due date for FY 2020-21
Form AOC-4 (XBRL) Annual Accounts Filing in XBRL Mode 30 days after the AGM’s closure 29/10/2021
Form AOC-4 (XBRL) for IND AS based Financial Statement Annual Accounts in XBRL format based on Indian Accounting Standards 30 days after the AGM’s closure 29/10/2021
Form CRA-4 Cost Audit Report Filling 30 days after receiving the Cost Audit Report 30 days after receiving the Cost Audit Report
Form AOC-4 (NBFC)
IND and Form AOC-4
NBFCs must file annual accounts in accordance with Indian accounting standards. 30 days after the AGM’s closure 30 days after the AGM’s closure


Note: “MCA has prolonged the xbrl filing deadline of e-forms AOC-4, AOC-4 (CFS) AOC-4 XBRL and MGT-7 up to 30/06/2020 for companies having power in the UT of J&K and Ladakh without impose of the added fee by general circular no.09/2020.”


The Penalty/Additional Fees Concept: xbrl filing deadline

NOTE: With effect from July 1, 2018, the additional fee for E-form AOC-4 (XBRL and Non-XBRL) and Form MGT-7 after the due date is INR 100 per day.

Periods of Delay Fees
Up to 30 days 2 times the usual fees
More than 30 days, but not more than 60 days 4 times the usual fees
More than 60 days, but not more than 90 days 6 times the usual fees
More than 90 days, but not more than 180 days 10 times the usual fees
More than 180 days, but not more than 270 days 12 times the usual fees


Latest Update about xbrl filing online

  • “For the fiscal year 2019-2020, the MCA has granted a waiver on the imposition of additional costs for all AOC-4 e-forms until February 15, 2021.”
  • “The deadline for filing E-form-MGT 07 is 60 days after the Annual General Meeting for the fiscal year 2019-2020.”



For xbrl filing online you must follow all the steps mentioned above. Also take care of a few factors like xbrl filing applicability 2021, xbrl filing requirements, xbrl filing due date, and xbrl filing deadline. If you have confusions then get connected with CA Services named LegalPillers.

Legalpillers is a leading ca and cs company service providers in india. They can handle all of the manual tagging required to create an XBRL template. Contact us for more information about the xbrl filing deadline and due date.

Ritesh Mishra

Hi, My name is Ritesh Mishra, a Practicing Advocate having several year experience in Business Consultancy, Secretarial Law, Intellectual Properly Law, Taxation, Business Modeling and other allied matters. I have been serving Small and Big Industries since several years. I have also been serving industry in various kind of licensing and liasoning works across India.

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