All about ‘ICDS’ (Income Computation and Disclosure Standards) notified by CBDT

All about ‘ICDS’ (Income Computation and Disclosure Standards) notified by CBDT

All about Income Computation and Disclosure Standards (ICDS) or Tax Accounting Standards (TAS) issued by the CBDT from time to time, along with relevant information, updates, notes, CBDT’s Exposure Drafts and ICAI’s Technical Guide on their applicability and requirements.

CBDT’s Notifications/ FAQs on ICDS

CBDT’s Revised ICDS (applicable from AY 2017-18) along with Clarifications/ FAQs

CBDT Clarifications on Revised ICDS (1 to 10) by way of 25 FAQs

Tax Audit Report – Form 3CD Revised (AY 2017-18)

ICAI’s Guidelines on ICDS

ICAI’s Technical Guide on Income Computation and Disclosure Standards (ICDS)

List of ICDS (I to X) as Revised by CBDT

ICDS I relating  to  Accounting  Policies (corresponding to AS-1) 

ICDS II relating to Valuation of Inventories (corresponding to AS-2) 

ICDS III relating  to  Construction  Contracts (corresponding to AS-7) 

ICDS IV relating  to  Revenue  Recognition (corresponding to AS-9) 

ICDS V relating  to  tangible  Fixed  Assets (corresponding to AS-10) 

ICDS VI relating to the Effects of  Changes in Foreign Exchange Rates (corresponding to AS-11) 

ICDS VII relating  to  Government  Grants (corresponding to AS-12) 

ICDS VIII relating to Securities (corresponding to AS-13) 

ICDS IX relating to Borrowing Costs (corresponding to AS-16) 

ICDS X  relating  to Provisions, Contingent Liabilities and Contingent Assets (corresponding to AS-29)

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