Can anyone please tell me wether XBRL is applicable for a section 25 companies having paid up capital more than 5 crore? and thus provide the reason for it?
Kindly reply on urgent bases
Thanking you
Regards
Shreya
Saurabh Maheshwari
(B.com,ACA)
(5923 Points)
Replied 08 October 2013
As mandated by the MCA, the following class of companies have to file their Balance Sheet and Profit and Loss Statement in XBRL format as per Revised Schedule VI for all Financial Periods beginning on or after 01-04-2011:
However the following class of companies are exempted from this requirement till further orders from MCA.
Sec 25 co is not falling under exemption list so it is implied that even that co. having Paid up Sh cap in excess of Rs. 5 crores has to file 23AC&23ACA in Xbrl...