Preventing permanent deferral of taxes through undervaluation of inventory
Preventing permanent deferral of taxes through undervaluation of inventory BUDGET 2023-24 MEMORANDUM EXPLAINING THE PROVISIONS IN THE FINANCE BILL, 2023 Assessees are required to maintain books of account for the purposes of the Act. The Central Government has notified the Income Computation and Disclosure Standards (ICDS) for the computation of income. ICDS-II relates to valuation… Read More »