Filing of financial statements in XBRL mode and by using XBRL taxonomy is mandatory to certain companies. Discuss, referring to the provisions of the Companies Act, 2013.

Rule 3 of the Companies (filling of Documents and Forms in Extensive Business Reporting Language) Rules 2018 mandates the following select class of companies mentioned below to file financial statements in XBRL (eXtensible Business Reporting Language) mode and by using the XBRL taxonomy: all companies listed with any Stock Exchange(s) in India and their Indian subsidiaries; or all companies having paid-up capital of Rupees five crore and above; or all companies having turnover of Rupees one hundred crore and above; or all companies who were required to file their financial statements for FY 2010-11, using XBRL mode. However, the companies in banking, insurance, power sector, non-banking financial companies and housing finance companies are exempted from XBRL filing till further orders.