XBRL stands for “extensible business reporting language”. Ministry of Corporate affairs in its endeavor to bring harmony in filing of various reports by some big companies, introduced Companies (Filing of documents & Forms in Extensible Business Reporting Language) Rules, 2015.
As per Rule 3, following class of companies shall file their financial statements and other documents under section 137 of the Act, with the registrar in e-Form AOC-4 XBRL on or after 1st April 2014, namely:
• All companies listed with any Stock Exchange(s) in India & their Indian subsidiaries
• All companies having paid up capital of rupees five crore or above
• All companies having turnover of rupees hundred crore or above
• All companies which are required to prepare their financial statements in accordance with Companies (Indian Accounting Standards) Rules, 2015
Once the above companies have reported their financials in AOC-4 XBRL, they shall continue to file their financial statement if they may not fall in the given criteria in succeeding years.
Therefore, companies coming under the set criteria stated under Companies (Filing of documents & Forms in Extensible Business Reporting Language) Rules, 2015, shall file its Financial Statements and other documents in e-form AOC-4 XBRL and rest of the companies may continue filing their financial statements in AOC-4 and AOC-4 CFS as the case may be.
Exemptions for XBRL filling: Companies in Banking, Insurance, Power Sector, Non-Banking Financial companies and Housing Finance Companies are exempted from XBRL filing.
Applicability of Form AOC-4 CFS
AOC-4 CFS is the e-form for the companies required to prepare consolidated financial statements as per the provisions of sub- section (3) of section 129 of Companies Act, 2013. Further sub- section (4) of section 129 states that the provisions of this Act applicable to preparation, adoption and audit of the financial statements of holding company shall, mutatis mutandis, apply to the consolidated financial statements referred to in sub-section (3).
According to Rule 12(1) of the Company (Accounts) Rules 2014, companies having one or more subsidiaries within or outside India will have to file AOC-4 and AOC-4 CFS with respect to its financial statements and consolidated financial statements respectively.
Explanation.—for the purposes of consolidation, the word “subsidiary” shall include Associate Company and joint venture.
All the other companies, not falling in the above criteria for XBRL and CFS, shall file a single e-Form AOC-4 along with its financial statements and other documents as required under the Act.

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