If you are a reasonably big company you need to file your Annual Returns with the RoC (Registrar of companies) in the eXtensible Business Reporting Language.
Annual Returns include your
Profit and Loss Account
Notes on accounts
Management Discussion Analysis…etc.
A company has to file its AR in xbrl format if it falls in the following criteria:
a. A listed company and all its subsidiaries
b. A company with a paid up capital of Rs. 5 crores
c. A company with a turnover of Rs. 100 cores…
of course there are some exceptions like nbfc, power companies, insurance, banking, etc. This list is likely to be about 30,000 companies – and is a huge opportunity for Chartered Accountants, Company secretaries and perhaps the Cost Accountants too.
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