Mention the classes of companies which are mandated by the Ministry of Corporate Affairs to file their financial statements in eXtensible Business Reporting Language (XBRL) mode with its key benefits. State exceptions, i

The following class of companies mentioned below are required 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 ₹ 5 crores and above; All companies having turnover of ₹ 100 crores and above; or All companies who were required to file their financial statements for FY 2010-11 using XBRL mode However, Banking Companies, Insurance Companies, Power Companies And Non-Banking Financial Companies (NBFCs) are exempted from XBRL filing till further orders. Key benefits of XBRL filing are as under: Relevant data has tags and selective information can be fetched for specific purposes by various government and regulatory agencies. It is in conformity with Global Reporting Standards, which helps in improved data mining and relevant information search.