XBRL Filing

XBRL is a language used to communicate business and financial data electronically. It’s making a big change in the way businesses report information around the world. This language is helpful in many ways such as saving money, making things more efficient, and making the information more accurate and reliable. It’s already being used in many countries and is growing quickly.

XBRL is beneficial at every stage of business reporting and analysis. It helps to automate processes, save costs, and handle data more quickly and accurately. It also improves analysis and decision-making with better-quality information. With XBRL, people can save time and resources by using software to handle the information. This language is flexible and can be adjusted to meet specific business needs.

XBRL (Extensible Business Reporting Language) is a standardized format for tagging financial and business data in electronic documents. The use of XBRL in filing financial statements can provide benefits such as improved accuracy, faster processing, and easier analysis of data.

Indian companies with a paid-up capital of 5 crores or an annual turnover of 100 crores and listed on the stock exchange of India are required to file their financial reports using XBRL format. But if a company does not meet these criteria, it can choose to use XBRL.