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2. Basis
IFRS
Indian Taxonomy US Taxonomy
Indian Taxonomy is
based on IFRS platform.
Gradually, Indian
accounting in converging
towards IFRS, so is the
Taxonomy. 2012
Taxonomy saw a major
shift towards IFRS.
US Taxonomy very
different from IFRS.
Every notes/schedules
are very elaborative in
nature.
Output
for
users
Output(Instance
Document) is not
available on regulators
website. User of
financial statement can
not have information
directly from MCA
Website
Output(Instance
Document) is available
on regulators website.
Users if financial
statement can have
information directly
from SEC website under
Interactive data.

3. Basis
Vast
ness
Indian Taxonomy US Taxonomy
Indian Taxonomy is
narrow when compared
to US Taxonomy. It
contains 3568 elements.
US Taxonomy is very
elaborative. It contains
around 17000 elements.
Docume
ntation/
Definiti
ons
2012 Taxonomy of India
doesn't contain the
Documentation i.e.
definition of elements. If
one gets confused about
the meaning of an element,
definitions are not
available for reference and
understanding.
US Taxonomy contains the
Documentation i.e.
definition of elements. If
one gets confused about
the meaning of an element,
definitions are available for
reference and
understanding

4. Basis
Extension
of
Elements
Indian Taxonomy US Taxonomy
In Indian Taxonomy,
Extension elements are
not allowed. Only the
defined elements can be
used for mapping.
In US Taxonomy,
Extension of elements
are allowed. For a
lineitem, if one is unable
to find a tag, one can
extend it with suitable
attributes.
Clubbing
of values.
In Indian Taxonomy, if
one is unable to find a
suitable element, he/she
can club them into one.
This is generally
applicable for OTHERS
element.
In US Taxonomy, There is
no concept of clubbing.
If one is unable to find
the suitable element,
he/she can extend.

5. Basis
Capturing
of data
Indian Taxonomy US Taxonomy
MCA doesn't mandates the
capture of each and every
value. MCA has given a list of
177 Mandatory elements
and another 380 elements
are conditional mandatory.
Other value/textual can be
captured is found important
and suitable tag is available
SEC mandates to captures
each and every value if
related to financial of the
entity. If for a value suitable
element is not found, it can
be captured under an
extended element.
Disclosure
related to
corporate
affairs
MCA mandates some
disclosures related to
company affairs such as -
General Information about
the company,Remuneration
to directors, auditors
report, directors report,
directors singing the
Balance Sheet
SEC doesn't Mandates to
capture data related to
corporate affairs.

6. Basis
Inter-Use
of element
under
various
disclosures
Indian Taxonomy US Taxonomy
In Indian Taxonomy, one can
not use an element/member
from one disclosure/linkbase
under another. Means, it an
element is defined under
"[200100] Notes - Share
Capital", it can not be used
under any other disclusore if
needed.
In US Taxonomy, any element
can be used anywhere,
means one can use the
element/member as per
need and disclosures made
by client.
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