XBRL is eXtensible Business Reporting Language; it is the e form of providing financial data of the company and is being put to practical use in a number of countries and implementations of XBRL are growing rapidly around the world and it is a compliance requirement under the Companies Act, 2013.

XBRL is considered to be used largely in future as it is capable of being used globally with no constraints of language of the country, large chunk of data can be stored using minimal space is the main advantage.

• Companies listed with stock exchanges in India and their Indian subsidiaries;
• Companies having paid up capital of five crore rupees or above;
• Companies having turnover of one hundred crore rupees or above;
• All companies which are required to prepare their financial statements in accordance with Companies (Indian Accounting Standards) Rules, 2015