Tag Archives: Income Computation and Disclosure Standard

ICDS Notification S.O. 892(E) -31.03.2015 rescinded

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II, SECTION 3, SUB-SECTION (ii)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF DIRECT TAXES) Notification New Delhi 29th September, 2016 S.O. 3078(E). — In exercise of the powers conferred by sub-section (2) of section 145 of the Income-tax Act, 1961(43 of… Read More »

Key Takeaway of ICDS -Income Computation and Disclosure Standard

Income Computation and Disclosure Standard Key Takeaway of ICDS -Income Computation and Disclosure Standard The 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 purposes of maintenance of books of account Valuation of… Read More »

All ICDS Notified for Income Computation at one place

Income Computation and Disclosure Standard Govt has Notified Income Computation and Disclosure Standard (ICDS) Vide NOTIFICATION  NO.32/2015 [F. NO. 134/48/2010-TPL]/SO 892(E), DATED 31-3-2015 These Standards are to be followed by all assessees, following the mercantile system of accounting, for the purposes of computation of income chargeable to income-tax under the head “Profit and gains of business or profession” or… Read More »

ICDS X- Income Computation and Disclosure Standard X

ICDS X Income Computation and Disclosure Standard X Provisions, Contingent Liabilities and Contingent Assets 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 of account. In… Read More »

ICDS IX-Income Computation and Disclosure Standard IX

ICDS IX Income Computation and Disclosure Standard IX Borrowing Costs 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 of account. In the case of conflict… Read More »

ICDS VIII -Income Computation and Disclosure Standard VIII

ICDS VIII Income Computation and Disclosure Standard VIII Securities 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 of account. In the case of conflict between… Read More »

ICDS VII -Income Computation and Disclosure Standard VII

ICDS VII Income Computation and Disclosure Standard -VII Government Grants 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 of account. In case of conflict between… Read More »

ICDS VI -Income Computation and Disclosure Standard VI

ICDS VI Effects of Changes in Foreign Exchange Rates 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 of accounts. In the case of conflict between… Read More »

ICDS V – Income Computation and Disclosure Standard V

ICDS V ( Income Computation and Disclosure Standard V) Tangible fixed assets 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 of accounts. In the case… Read More »

ICDS IV -Income Computation and Disclosure Standard IV

ICDS IV ( Income Computation and Disclosure Standard IV) Revenue Recognition 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 of accounts. In the case of… Read More »

ICDS III -Income Computation and Disclosure Standard -III

ICDS III ( Income Computation and Disclosure Standard -III ) Construction Contracts 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 of accounts. In the case… Read More »

ICDS I ( Income Computation and Disclosure Standard -I )

ICDS I (Income Computation and Disclosure Standard) Accounting Policies 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 of accounts. In the case of conflict between… Read More »

Income Computation and Disclosure Standard (ICDS) Notification

Income Computation and Disclosure Standard NOTIFICATION NO.32/2015 [F. NO. 134/48/2010-TPL]/SO 892(E), DATED 31-3-2015 Sponsored Book BUY   In exercise of the powers conferred by sub-section (2) of section 145 of the Income-tax Act, 1961 (43 of 1961) and in supersession of the notification of the Government of India in the Ministry of Finance, Department of… Read More »