In super session of the Ministry's Circular No. 9/2011 dated 31.03.2011 and 25/2011 dated 12.05.2011, Ministry of Corporate Affairs vide Circular No. 37/2011 dated 07.06.2011 mandated certain class of companies to file Balance Sheets and Profit and Loss Account allongwith Director's and Auditor's Report for the ear 2010-11 onwards by using XBRL taxonomy. The Taxonomy Business Rules, Validity tools etc. required for preparation of the above documents in XBRL, format as per the existing Schedule VI and Accounting Standards notified under the Companies (Accounting Standards) Rules, 2006 have been prepared and hosted on the vebsite of the Ministry at www.mca.gov.in. The Frequently Asked Questions (FAQs) about XBRL, have been framed by the Ministry and annexed with the circular for the information and easy understanding of the stakeholders. To enable filing on XBRL, by stakeholders, MCA-21 portal will have XBRL, filing module by July, 2011. Actual date will be informed separately.
Complied By CA-Shilpa Agrawal, BoS
Source: August-2011 The Charted Accountants Students
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