MCA’s XBRL Filing Exemption for Housing Finance Companies

MCA Exempts Housing Finance Companies from XBRL Filing

Companies in Banking, Insurance, Power Sector and Non Banking Financial companies are already exempted from XBRL filing under Proviso to Rule 3 of the Companies (Filing of Documents and Forms in Extensible Business Reporting l-anguage) Rules, 2015. MCA has amended the XBRL Rules and has added Housing Finance Companies to the list of companies which are exempted from XBRL Filing.

MCA Notification dt. 4th April, 2016

In exercise of the powers conferred by sub-sections (1) and (2) of section 469 read with section 398 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Rules, 2015, namely:-

1. Short title and Commencement-

(1) These rules may be called the Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Amendment Rules, 2016.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Rules,2015, in rule 3, for the proviso, the following proviso shall be substituted, namely:-

“Provided that the companies in banking, insurance, power sector, non-banking financial companies and housing finance companies need not file financial statements under this rule.”.

MCA Notification dt. 4th April, 2016

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