Dear Professional Collegues,
Pls, suggest your views in relation to Applicability of XBRL in case of Pvt.Ltd companies.
4 Replies
Dinesh Selvaraj
(CA Final student)
(357 Points)
Replied 07 August 2011
The MCA vide general circular no 37/2011, dated 7-6-2011 has mandated the following class of companies to file financial statements in XBRL format for FY 2010-11:
1) All companies listed in India and their Indian subsidiaries
2) All companies having a paid up capital of Rs.5 crore and above
3) All companies having a turnover of Rs.100 crore and above.
Thus if a private ltd company falls under category 2 or 3, i.e. if it has paid up capital of Rs 5 crore and above, or if has turnover of Rs 100 crore and above, the pvt ltd company should file its financial statment in XBRL format only.
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 08 August 2011
Agree with the view of Learned Member.
If any company falls in any of the specified 3 categories, it has to file its Balance Seet in XBRL form, whether it is private or public Company.
Ravi Jain
(Practice)
(43 Points)
Replied 11 August 2011
As per the third category ( All companies having a turnover of Rs. 100 crore and above), the company needs to file its financials in XBRL Form ...
What comes under the term of TURNOVER?
Aswathy
(CS)
(175 Points)
Replied 12 August 2011
i guess it is Sales as mentioned in the P/L account of the current year
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