The Ministry of Corporate Affairs is aggressively mandating the use of the eXtensible Business Reporting Language (XBRL), in a bid to improve corporate reporting quality and improve transparency.
Vide Companies (Filing of documents and forms in eXtensible Business Reporting Language) Rules, 2011 notified vide GSR No. 748E dated 5.10.2011, select class of companies are required to file their Balance Sheet and Profit & Loss Account and other documents as required u/ s 220 of Companies Act, 1956 with the Registrar of Companies for the financial year ending on or after 31st March, 2011.