Search: Search
Follow us
Exposure Draft of Ind AS Taxonomy for Comments. - (10-01-2017)

Share this page:

As per the roadmap issued by the Ministry of Corporate Affairs (MCA) in February 2015, certain class of companies have to prepare their financial statements as per Indian Accounting Standards (Ind AS) which are converged with International Financial Reporting Standards (IFRS) w.e.f F.Y. 2016-17. MCA has also notified Ind AS compliant format of financial statements (i.e. Division II of Schedule III to the Companies Act, 2013).

Accordingly, XBRL taxonomy, based on the Ind AS and Ind AS compliant Schedule III requirements, has been developed for the companies other than insurance or banking company or any company engaged in the generation or supply of electricity, or to any other class of company for which a form of financial statement has been specified in or under the Act governing such class of company. MCA specific requirements, if any, have also been added to the taxonomy so as to meet their reporting requirements. The new taxonomy is meant for filing of annual financial statements for such companies with ROC, MCA. It covers the financial statements, viz. Balance Sheet, Statement of changes in equity, Statement of Profit and Loss, Statement of other comprehensive income and Cash Flow Statement and the related notes and the non-financial information.

Comments are invited on the draft Ind AS XBRL taxonomy referred above.

Comments may be sent by e-mail at, so as to be received not later than January 25, 2017. Alternatively, comments may be submitted in writing to CA. Vidhyadhar Kulkarni, Technical Consultant, XBRL India, Fifth Floor, The Institute of Chartered Accountants of India, ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi - 110 002.

Exposure Draft of Ind AS XBRL Taxonomy
    ICAI Cloud Campus
    BoS Knowledge Portal
    BoS Announcements
    At a Glance: CA Course
    Know Rules & Regulations
    Post-Qualification Courses
    Generously Contribute to CABF
    Know the CPE Hours credit status
    Become Examiner with ICAI
    Other Imp. Links
    Understand benefits that you get/Register as an employer
    Upload Jobs & Training Assignments/Review CVs/Shortlist Applications/Search for Professional Assistance
    Download Standards
    View Notifications
    Look up Guidance Notes & Interpretations
    Digital Learning Hub
    Centralized Distribution System
    Free Download - Publications
    Committee Pages
    Other Useful Links
    View Committee Events
    Look up CPE Events in my location
    Report on an Event
    Photo Gallery
    Official Directory  |  Web Mail  |  Feedback  |  Contact Us
    Best viewed on screen resolution 1024x768 pixels