About Annual Filing of Companies (XBRL - IND-AS)

The IND AS are basically standards that have been harmonised with the IFRS to make reporting by Indian companies more globally accessible. Since Indian companies have a far wider global reach now as compared to earlier, the need to converge reporting standards with international standards was felt, which has led to the introduction of IND AS.

Mandatory applicability of IND AS to all companies from 1st April 2017, provided:- It is a listed company or is in the process of being listed (as on 31.03.2016). Its Net worth is greater than or equal to Rs. 250 crore but less than Rs. 500 crore (for any of the below mentioned periods).
Net worth shall be checked for the previous four Financial Years (2014-14, 2014-15, 2015-16, and 2016-17)

Mandatory applicability of IND AS to all Banks, NBFCs, and Insurance companies from 1st April 2018, whose: Net worth is more than or equal to INR 500 crore with effect from 1st April 2018. IRDA (Insurance Regulatory and Development Authority) of India shall notify the separate set of IND AS for Banks & Insurance Companies with effect from 1st April 2018. NBFCs include core investment companies, stock brokers, venture capitalists, etc. Net Worth shall be checked for the past 3 financial years  (2015-16, 2016-17, and 2017-18. All NBFCs whose Net worth is more than or equal to INR 250 crore but less than INR 500 crore shall have IND AS mandatorily applicable to them  with effect from 1st April 2019.