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 services, has incorporated the latest taxonomy for Commercial and Industrial (C&I) companies released by MCA on 05 Oct 2016 and ready to accept orders for XBRL conversion. You can proceed to place your XBRL order on DataTracks website
The Taxonomy Development and Review Committee of XBRL India released the draft version of the taxonomy and is now finalized for use by MCA through notifications.
The AOC-4 XBRL is being amended to include mandatory CSR / CARO related details and others changes
The broad changes in the taxonomy include:
- New elements added to Corporate Social Responsibilities (CSR)
- New elements added and old elements deprecated in Auditor’s Report
- Few changes in other branches in the taxonomy
DataTracks provides compliance reporting solutions to enterprises in India. Being a pioneer in XBRL technology, DataTracks provides XBRL solutions using in-house software developed by professionals with accounting as well as XBRL technology expertise.
“DataTracks have always focused on quick adoption of changes to taxonomy and regulation. We were quick to amend our systems to accept XBRL orders for the year 2016” says Ms. Sunitha CS – Head of Client Relations at DataTracks.
Customer expectations of an easy-to-use, scalable and customizable application for XBRL compliance are always high. We at DataTracks take great pride in providing exactly what the market is craving – a comprehensive, easy-to-use tagging tool through our suite of leading solutions, focused on helping our clients.
About DataTracks: DataTracks is a global leader in preparation of financial statements in XBRL and iXBRL formats for filing with regulators. With a track record of over 10 years, DataTracks prepares more than 12,000 XBRL statements annually for filing with regulators such as SEC in the United States, HMRC in the United Kingdom, Eurofiling compliance reports in Europe, Revenue in Ireland, MCA in India and ACRA in Singapore. DataTracks provides world-class services with its team of certified accountants experienced in US GAAP, UK GAAP, India GAAP and IFRS.
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