CHENNAI, October 14, 2016 /PRNewswire/ --
Ministry of Corporate Affairs (MCA) has recently released the revised 2016 taxonomy for Commercial and Industrial (C&I) companies. The final taxonomy, validation tool and other useful links relating to 2016 taxonomy are available at http://www.mca.gov.in/XBRL/
DataTracks, a leading provider of high-quality XBRL services, has incorporated the latest taxonomy for Commercial and Industrial (C&I) companies, released by the MCA on 05 October 2016, and is ready to process orders for XBRL conversion. You can place your XBRL order through the DataTracks website.
The Taxonomy Development and Review Committee of XBRL India released the draft version of the taxonomy which has now been finalised for use by the MCA through notifications.
The AOC-4 XBRL is being amended to include mandatory CSR/CARO related details and other changes.
The broad changes in the taxonomy include:
- New elements added to Corporate Social Responsibilities (CSR)
- New elements added and old elements deleted in Auditor's Report
- Few changes in other branches in the taxonomy
DataTracks provides compliance reporting solutions to enterprises in India. Being a pioneer in XBRL technology, DataTracks provides XBRL solutions using in-house software developed by professionals with accounting as well as XBRL technology expertise.
"DataTracks has always focused on swift adoption of changes to taxonomy and regulations. We were quick to amend our systems to accept XBRL orders for the year 2016," says Ms. Sunitha CS - Head of Client Relations at DataTracks.
Customer expectations of an easy-to-use, scalable and customisable application for XBRL compliance are always high. We at DataTracks take great pride in providing exactly what the market is craving - a comprehensive, easy-to-use tagging tool through our suite of leading solutions, focused on helping our clients.
DataTracks US is part of DataTracks Services Limited, leaders worldwide in preparation of financial statements in XBRL and iXBRL formats for filing with regulators. DataTracks prepares more than 12,000 XBRL statements annually for filing with regulators such as SEC in the United States, HMRC in the United Kingdom, Revenue in Ireland, ACRA in Singapore and MCA in India.
T R Santhanakrishnan
SOURCE DataTracks Services Limited