Tag Archives: ICDS

ICDS Clarification Issued by CBDT-25 FAQ -Circular No 10/ 2017 Dated 23.03.2017

By | March 24, 2017

F.No 133/23/2016-TM Government of India Ministry of Finance Department of Revenue Central Hoard of Direct Taxes (TPL Division) Circular No 10/ 2017 Dated 23.03.2017 Subject : Clarifications on Income Computation and Disclosure Standards (ICDS) Notified under Section 145(2) of the Income Tax Act 1961 Download PDF –  25 FAQ on ICDS Extract from Above Circular – 25… Read More »

Withdrawa ICDS – Budget 2017-18 Suggestions -ICAI

By | March 6, 2017

Income Computation and Disclosure Standards introduced under section 145 vide Finance Act (No.2), 2014 – ICDSs may be withdrawn Section 145 of the Income-tax Act, 1961 provides for the method of accounting. Section 145(1) requires income chargeable under the head “Profits and gains of business or profession” or “Income from other sources” to be computed… Read More »

Key Points about New ICDS (Income Computation and Disclosure Standards)

By | October 21, 2016

 ICDS (Income Computation and Disclosure Standards) Key Points about ICDS -Income Computation and Disclosure Standards Notification No of ICDS :- Central Government has notified Income Computation and Disclosure Standards vide Notification No. S.O. 3079(E), dated 29-9-2016 In pursuance of the powers granted to it under section 145(2) of Income Tax Act 1961 Old Notification on ICDS Rescined :-… Read More »

Book- Guide to New ICDS -AY 2017-18

By | October 19, 2016

Book on ICDS – Guide to New Income Computation & Disclosure Standards (Assessment Year 2017-18) This Book on ICDS contains Salient features of ICDS (New Version) notified vide Notification No. S.O. 3079(E), dated 29-9-2016 ,ICDS (New) applicable w.e.f. AY 2017-18 .ICDS applicable to assessees following mercantile system of accounting . This Book Gives answers on How… Read More »

Book on New Income Computation & Disclosure Standards AY 2017-18

By | October 19, 2016

Law & Practice Relating to New Income Computation & Disclosure Standards (Assessment Year 2017-18) Law & Practice Relating to New Income Computation & Disclosure Standards (Assessment Year 2017-18) Assessment Year 2017-18 Paperback: 396 pages Publisher: Taxmann Publications Pvt. Ltd.; Assessment Year 2017-18 edition (2016) Language: English  

List of 10 New ICDS Notified by CBDT w.e.f AY 2017-18

By | October 2, 2016

 Income Computation and Disclosure Standards -ICDS w.e.f AY 2017-18 CBDT has vide   Notification No. 87/2016-Income Tax Dated: 29.09.2016 notified following new Income Computation and Disclosure Standards -ICDS- w.e.f AY 2017-18 Sr No ICDS  No ICDS Relating to 1 ICDS-I  Accounting Policies 2 ICDS-II Valuation of Inventories 3 ICDS-III Construction contracts  4 ICDS-IV Revenue Recognition 5 ICDS-V… Read More »

New ICDS-IX Borrowing Costs w.e.f AY 2017-18

By | October 2, 2016

Source- Notification No. 87/2016-Income Tax Dated: 29.09.2016 Income Computation and Disclosure Standard -ICDS-IX relating to 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… Read More »

New ICDS-VIII Securities w.e.f AY 2017-18

By | October 2, 2016

Source- Notification No. 87/2016-Income Tax Dated: 29.09.2016 Income Computation and Disclosure Standard -ICDS- VIII relating to 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… Read More »

New ICDS-VII -Government grants w.e.f AY 2017-18

By | October 2, 2016

Source- Notification No. 87/2016-Income Tax Dated: 29.09.2016 Income Computation and Disclosure Standard -ICDS-VII relating to 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… Read More »

New ICDS-VI -Effects of changes in foreign exchange rates w.e.f AY 2017-18

By | October 2, 2016

Source- Notification No. 87/2016-Income Tax Dated: 29.09.2016 Income Computation and Disclosure Standard VI relating to the 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… Read More »