Category Archives: ICDS-II

New ICDS-II-Valuation of Inventories w.e.f AY 2017-18

Source- Notification No. 87/2016-Income Tax Dated: 29.09.2016 Income Computation and Disclosure Standard II relating to valuation of inventories Preamble This Income Computation and Disclosure Standard is applicable for computation of income chargeable under the head “Profits and gains of Business or profession” or “Income from other sources” and not for the purpose of maintenance of books… Read More »