MCA

 

XBRL impact on the new Ind AS accounting standards

It is no new news that ICAI has been working on IFRS convergence with Indian Accounting Standards for several years now. This converged standard is termed Ind AS popularly. The Ind AS is very similar to the IFRS but has … Continue reading

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Bombay Stock Exchange mandates financial results in XBRL format

Bombay Stock Exchange (or BSE) has recently issued a circular requiring all entities listed with them to file Financial Results in XBRL format with effect from 1st April 2017 as against the earlier practice of filing in PDF format. In … Continue reading

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Form AOC-4, AOC-4 XBRL and GNL-2 were recently revised on MCA21

MCA (Ministry of Corporate Affairs) has notified that “Form AOC-4, AOC-4 XBRL and GNL-2 were recently revised on MCA21 Company Forms Download webpage. Stakeholders are advised to check the latest version before filing. MCA21 Company Form is an e-Form, in … Continue reading

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MCA takes another Initiative in Government Process Re-engineering (GPR)

As part of the Ministry’s efforts towards promoting greater Ease of Doing Business to stakeholders, new version of Form SPICe (INC-32) with date of effect as 30th January 2017 will be notified soon, so as to include the functionality of … Continue reading

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DataTracks Ready for 2016 XBRL Filing for MCA

Ministry of Corporate Affairs (MCA) has recently released revised 2016 taxonomy for Commercial & Industrial (C&I) companies. The final taxonomy, validation tool and other useful links relating to 2016 taxonomy, please visit http://www.mca.gov.in/XBRL/ DataTracks, a leading provider of high-quality XBRL … Continue reading

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New AOC forms and MCA filing deadline extension

The Ministry of Corporate Affairs (MCA) has indicated their plan to revise AOC “ 4 (XBRL) and AOC-4 (CFS) forms following the revision of AOC-4 form. The major amendment will be the inclusion of mandatory Corporate Social Responsibility (CSR) and … Continue reading

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Ministry of Corporate Affairs to revise the taxonomies for XBRL filing in India

Ministry of Corporate Affairs (MCA) has incorporated two significant modifications this year with regard to the XBRL filings. They are: Revamping the taxonomy for Commercial Industrial (C&I) companies in order to synchronise with the changes as per Companies Act, 2013 … Continue reading

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XBRL in India “ Coordination among Regulators

As this goes to press, two major regulators “ Ministry of Corporate Affairs (MCA) and Reserve Bank of India (RBI) have already implemented XBRL technology for report collection from companies and financial institutions. More such regulating regulators are on-course to … Continue reading

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MCA amends definition of Small Company under Section 2 (85)

Ministry of Corporate Affairs (MCA) has defined the concept of ˜Small Company in the Companies Act 2013. Under section 2 (85) of the Companies Act, 2013 a Small Company means a company other than a Public Company that satisfies either … Continue reading

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Indian Accounting Standards (IAS) convergence with IFRS, April 2015

With the completion of the enactment of Companies Act, 2013, the Ministry of Corporate Affairs has started the process of convergence of the Indian Accounting Standards with the International Financial Reporting Standards (IFRS), which is to be implemented from April … Continue reading

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