Introduction
It is a company’s accountability to mandatorily share its financial status and data with the stakeholders through Financial Statements, Board’s report, Auditor’s report, Disclosures, etc. These financial statements, which have to be submitted through XBRL filing in Form AOC 4, are the key & effective medium of communication between the Board of Directors and the shareholders. For every financial year, the company has to submit Form AOC 4 for the XBRL filing of its financial statements with the Registrar of Companies (ROC), however, for the consolidated financial statements, the AOC 4 CFS is to be used by the company.
There are certain companies which need to mandatorily adopt the XBRL filing for submission of their balance sheet and P&L account from 2010-11 onwards.
Companies Eligible for XBRL Filing
- All public companies listed in the stock exchange in India and their Indian subsidiaries.
- All the companies which need to prepare their financial statements the Companies Rules, 2015.
- All companies with an annual turnover of 100 crores & above.
- All companies with paid-up capital of 5 crores & above.
Companies Exempted From XBRL Filing
- Housing finance companies
- Non-banking financial companies
- Companies executing Banking and Insurance business are exempted from XBRL filing of financial statements.
However, the companies which have filed their financial statements in XBRL under section 137 shall continue with XBRL filing of their financial statements and other data, though they may discontinue being enlisted under the class of companies mentioned above.
Provision for XBRL Filing in India
According to the Companies Act 2013, the provisions for XBRL filing with the ROC are as follows:
|
Position of the Company
|
Filing of financial statement with the Registrar
|
| Financial statements approved at the AGM along with the documents affixed to the financial statements and consolidated financial statements. |
Within 30 days of the AGM along with fees/additional fees as prescribed u/s 403
Note: 180 days from the completion of the FY is the time in case of OPC.
|
| When an adjourned meeting is conducted |
Within 30 days of the adjourned AGM along with prescribed fees/additional fees. |
| When the financial statements are not adopted |
Within 30 days of the AGM.
Note: The financial statements and the documents will be treated provisional till the date when the adopted financial statements are submitted.
|
| When AGM is not conducted |
Within 30 days from the date when the AGM should have been conducted along with specified fees/additional fees.
Note: The financial statements alongside the documents and the reasons for not conducting the AGM have to be submitted.
|
Form AOC 4 must be filed by 30th October of the concerned Assessment year for Financial Year ended, as the date counts 30 days from the last day when the AGM must be conducted under normal circumstances i.e. 30th September.
Documents required for XBRL Filing in India
Documents that need to be filed in XBRL Format are as follows:
- Balance Sheet
- Profit & Loss Statement
- Cash Flow Statement
- Notes to Accounts
- Audit and Annual Report
- Schedules associated with Balance Sheet and Profit & Loss Statement
- Statement related to Section 212 of the Companies Act, 1956 linked to subsidiaries.
Certification for XBRL Filing
The CFO/CEO/Director/ Secretary/Manager/ CEO needs to provide a certification that all information submitted via XBRL Filing in Form AOC 4 is accurate and in conformity with the law. The certification must be digitally signed along with the Director’s DIN or Manager/CEO/CFO’s PAN. Besides, a declaration from a full time practicing Cost Accountant/ Chartered Accountant/ Company Secretary stating all the attached documents are thoroughly verified and all the information is true and complete, is also needed. The declaration by the practicing professional must be accompanied by his/her membership no. and the status viz. fellow or associate.
Fees for XBRL Filing in India
The fees for XBRL Filing as per the share capital are as follows:
| Nominal Share Capital |
Fee |
| Below INR 1,00,000 |
INR 200/document |
| INR 1,00,000 - 4,99,999 |
INR 300/document |
| INR 5,00,000 - 24,99,999 |
INR 400/document |
| INR 25,00,000 - 99,99,999 |
INR 500/document |
| INR 1,00,00,000 or above |
INR 600/document |
Note: Fee for the companies which do not have any share capital is INR 200/document.
Due Dates for XBRL Filing for FY 2023-24
| E-form |
Use of the form |
Due Date to e-file |
Due date for FY 2023-24 |
| Form AOC-4 (XBRL) |
XBRL Filing of Annual Accounts |
30 days from the completion of the AGM |
29/10/2024 |
| Form AOC-4 (XBRL) for IND AS based Financial Statement |
XBRL Filing of Annual Accounts as per Indian Accounting Standard |
30 days from the completion of the AGM |
29/10/2024 |
| Form CRA-4 |
XBRL Filing of Cost Audit Report |
30 days from the date when Cost Audit Report was received |
30 days from the date when Cost Audit Report was received |
|
Form AOC-4 (NBFC)
IND and Form AOC-4
CFS (NBFC) IND
|
XBRL Filing of Annual Accounts as per
Indian Accounting Standard for
NBFCs (Non-Banking financial institutions)
|
30 days from the completion of the
AGM
|
29/10/2024 |