Filing of Annual audited financials in XBRL form

Extensible Business Reporting Language (XBRL) is a standardized format for reporting financial data electronically.   

Responsibilities of Professional License Holders

As per MCA guidelines, the following companies must file their financial statements in XBRL format using Form AOC-4 (XBRL):

  • Listed Companies - All companies listed on stock exchanges in India.
  • Companies with Paid-up Capital of Rs5 Crore or More - Even if not listed.
  • Companies with Turnover of Rs100 Crore or More - Large unlisted companies must comply.
  • Companies Required to Follow Indian Accounting Standards (Ind AS) - Companies that need Ind AS reporting must file in XBRL format.
  • Subsidiaries of Listed Companies - Even if a subsidiary is unlisted, it must file in XBRL if its parent company is listed.

EXEMPTIONS:

Following companies are exempted from XBRL Filings-
  • Non-Banking Financial Companies (NBFC)
  • Insurance Company
  • Banking Companies
  • Housing Finance Companies

Note: Small companies, OPCs (One Person Companies), and certain private limited companies may be exempt from XBRL filing unless specified.

STATUTORY REGISTERS

Following companies are exempted from XBRL Filings-
  1. Register of Members Form No MGT-1.
  2. Register of Directors and Key Managerial Personnel (KMP) Form No. MGT-2.
  3. Register of Charges Form No. CHG-7.
  4. Register of Loans, Investments, Guarantees, and Security Form No. MBP-2
  5. Register of Contracts or Arrangements with Related Parties: Form No. MBP-4.
  6. Register of Debenture Holders Form No. MGT-4.
  7. Register of Directors Shareholdings
  8. Register of significant beneficial owners BEN-3 etc.
Maintenance of Statutory Records -

As per the Companies Act, all registered companies must maintain and update statutory registers for regulatory compliance, corporate governance, and smooth business operations.
 
     
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