The requirement for XBRL filing varies by country and jurisdiction. In the United States, for example, publicly traded companies are typically required to file XBRL with the Securities and Exchange Commission (SEC). In other countries, the requirement for XBRL filing may be different and could depend on factors such as the size of the company, the industry it operates in, or the country’s specific regulations. It is best to check with the relevant regulatory agency in your jurisdiction for specific requirements on XBRL filing.
In India, the requirement for XBRL filing applies to certain categories of companies. As per the Ministry of Corporate Affairs (MCA), companies listed on a stock exchange in India and companies having a paid-up capital of Rs. 5 crores or more are required to file their financial statements in XBRL format with the MCA. Unlisted public companies with a paid-up capital of Rs. 10 crores or more and private limited companies with a turnover of Rs. 50 crores or more are also required to file their financial statements in XBRL format. Additionally, limited liability partnerships (LLPs) are also required to file their financial statements in XBRL format if they meet certain criteria. It is advisable to check with the MCA for the most up-to-date information on XBRL filing requirements in India. More to learn please contact CS Nisha Gupta