India’s new, powerful statutory compliance… Supported on Tally technology! 

 

MCA’s Statutory Report (in XBRL format) now available in Tally.ERP 9!

With an interactive checklist, Tally.ERP 9 makes generating MCA-compliant XBRL reports simple. What’s more, it reduces the chances of errors and allows the reuse of all configuration and mapping.

 

Who needs to file?

 

Ministry of Corporate Affairs (MCA), 7th June 2011: The following class of Companies are mandated to file their financial statements in XBRL format from Financial Year 2010-11 onwards:

 

 • All listed companies including their Indian subsidiaries (but excluding overseas subsidiaries)

 • Companies having a paid up capital of  5+ crore

 • Companies having a turnover of   100+ crore

 

MCA also proposes to include all companies from this Financial Year onwards.

 

Filing procedure:

 

What is XBRL?

 

Four simple steps to generate/export MCA’s report from Tally.ERP 9

 

Report Generation Made Easy with Tally.ERP 9

• An interactive checklist (with drilldown and automated status update) is provided. It guides

   in complying with various MCA rules, to generate valid instance documents

• Mapping of readily available financial data prevents re-keying in and hence reduces the

   chances of errors

• The same mapping can be used for previous year’s data

• Option to view the Balance Sheet and P&L as per the mappings done, before generating the 

   instance document

• Non-Financial Information can be typed, pasted or attached, as required

• Export the instance documents at the click of a button

• Above all, it’s a one-time activity – All mapping/configuration done this year can be reused in 

   future years