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English Release 24-October 2014
Date Month Year
  • Prime Minister's Office
  • PM conveys greetings on United Nations Day
  • PM salutes our brave ITBP personnel on the Raising Day of ITBP
  • Min of Agriculture
  • Kharif Rice Area Coverage
  • Min of Commerce & Industry
  • DIPP Constitutes IPR Think Tank to Draft National Intellectual Property Rights Policy
  • Min of Defence
  • Brave Heart NCC Cadets Rescue Middle Aged Woman from River Yamuna
  • Ministry of Finance
  • Government approves Twenty (20) Proposals of Foreign Direct Investment amounting to Rs 988.3 Crore
  • Min of Health and Family Welfare
  • Dr Harsh Vardhan offers cooperation to Pakistan to end polio
  • Min of Home Affairs
  • Home Minister addresses 53rd Raising Day Function of Indo Tibetan Border Police Force
  • Observance of the Rashtriya Ekta Diwas on 31st October
  • Min of Petroleum & Natural Gas
  • Modified DBTL Scheme
  • Global crude oil price of Indian Basket was US$ 83.61 per bbl on 23.10.2014
  • Min of Road Transport & Highways
  • Electronic Toll Collection System to be Inaugurated on October 31, 2014
  • Min of Skill Development, Entrepreneurship, Youth Affairs and Sports
  • India’s Performance at 2nd Asian Para Games 2014 on 22nd and 23rd October, 2014
  • Min of Urban Development
  • Shri M.Venkaiah Naidu adopts Hudhud cyclone ravaged village of Andhra Pradesh for rehabilitation

Previous Date

 
Ministry of Corporate Affairs30-April, 2013 17:44 IST
New Norms for XBRL Filing

 

             New norms have been put in place for Extensible Business Reporting Language (XBRL) filing with effect from 6th October, 2011 for select class of companies. For the financial years 2010-11 and 2011-12 a total of  2,90,39 and 2,57,86 companies respectively have filed their Balance Sheet using the revised XBRL norms. Giving this information in written reply to a question in the Lok Sabha, Shri Sachin Pilot, Minister of Corporate Affairs, said that his Ministry had set up a Committee in November, 2011 comprising of XBRL experts and representatives from the corporate sector as well as the Institute of Chartered Accountants of India (ICAI) with the following terms of references:

i. Identification of class of companies and various reports to be filed in XBRL in a phased manner;

ii. Development of Taxonomies to be used by Corporates for their regulatory filings to government agencies; 

iii. Extensions in Taxonomies and XBRL Assurance framework;

iv. Training, awareness and capacity building of stakeholders; and

v.  Framework for consumption & dissemination of XBRL data.

Information regarding setting up the Committee and its terms of reference was put on the Ministry’s website: www.mca.gov.in for information of the general public, inviting suggestions and comments.  In response to this, a large number of suggestions were received regarding:

i.   New accounting concepts (elements) in the taxonomy;

ii. Approach that may be adopted in development of applicable taxonomies;

iii. Approach that may be adopted for resolving technical issues like ‘extensions’ in taxonomies and rendering of XBRL documents;

iv.  Phased coverage of new companies / filings in XBRL; and

v.   Framework for consumption and dissemination of XBRL data, etc.

                                                                        ------------------------

KKP/sg


(Release ID :95354)

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