To file the collective financial information of a registered Company in one file format, you can subscribe to Registrationwala's XBRL filing services in India. We are one of the most celebrated legal service providers in Northern India.
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XBLR full form is eXtensible Business Reporting Language. It is a tool that helps businesses in analyzing all financial & other technical data systematically. And, it makes all technical information & data readable which does not require segregating the information for analysis. It involves tagging all financial data electronically through software, that makes data readable.
Earlier, companies in Delhi used to prepare & file all financial information in different formats like Word, Excel, Pdf which was difficult to read and analyze. But, if companies want to have all the information collected in one place, then they don’t have any tool for that.
Here XBLR came into existence which is a standard language that can be used by any small or big organization to analyze financial performance.
As per section 137 of the Companies Act 2013, the following companies are required to file XBRL via E FORM AOC-4:
All Companies which are covered under (Extensible Business Reporting Language) Rules, 2011
Companies in Banking, Insurance, Power Industries, and NBFCs are exempted from XBRL Filing.
The AOC-4 form is filled out every financial year to show the financial statements. This form will submit to the Registrar of Companies (ROC). And, in the case of consolidated financial statements, the company has to file an AOC4 CFS.
Filing all the financial statements keep a record of the company's financial growth, health, and any changes in the financial position of the company. These financial statements are useful for stakeholders, investors, and financial institutions because they help them to take an informed decision based on the true position of the company.
Documents Required for XBRL Filing in India
Regarding XBRL Filing following documents is needed:
Documents Required for Filling Financial Information Through XBRL?
The process of share dematerialization is a simple one. The process is as follows:
An XBLR filing provides the following benefits in the world of accounting:
XBLR is a unique language that is used in all the elements of financial reporting by different industries. It can be changed as per the needs of the business, even the individual can use it due to its flexible nature. That’s why it is stated that the XBRL technology can be automated. This one size will fit all businesses to make the data secure for end users.
We at Registrationwala provide end-to-end solutions for filing XBRL Filing. Registrationwala will file your financial statements on your behalf by generating XBRL-based statements for your Company. Registrationwala, India’s dedicated Accounting Advisory Services practice, provides accounting advisory services to clients across industry sectors. Our team includes professionals with experience in accounting and financial reporting principles and processes, including XBRL.
Registrationwala.com is a leading legal consultancy firm providing comprehensive services relating to XBRL Filing. Contact us now if you seek XBRL Filing without any hassle.
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