How to file XBRL in india Learn from CS NISHA Gupta

To create an XBRL (eXtensible Business Reporting Language) file in India, follow these steps:

  1. Determine the taxonomy: In India, the Ministry of Corporate Affairs (MCA) provides a taxonomy for companies to use for filing their financial statements. Choose the appropriate taxonomy based on your company’s type and size.
  2. Prepare the data: Gather all the financial and business data you want to report and organize it into a structured format.
  3. Choose an XBRL software: There are various XBRL software options available, both commercial and open-source, that you can use to create your XBRL file.
  4. Map the data: Use the XBRL software to map the data you prepared in step 2 to the elements defined in the taxonomy chosen in step 1.
  5. Validate the file: Use the XBRL software to validate the file to ensure that it complies with the XBRL standard and the chosen taxonomy.
  6. Submit the file: Once the XBRL file has been validated, submit it to the MCA through the MCA21 portal.

Note: The exact steps may vary depending on the XBRL software you use, so it is important to follow the software’s specific instructions. It is also advisable to consult a professional to ensure that the XBRL file is prepared and submitted correct. Contact CS NISHA GUPTA

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