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ICDS applicability and differences
if there are lots of differences between as and icds and moreover , act will prevail icds then what is the meaning of applicability of icds...which creates lots of litigation....
Replies (6)
ICDS is applicable under recognition of income as per Income Tax act which is Income Computation and Disclosure Standards. There are 10 ICDS which should be followed by entities for recognition of income under IT Act
ICDS is just for computation of income under it act
Due to icds, chances of unnecessary increase in income are possible....and deferred income may be increased...right????
May be it can
Ok...thanks a lot
Your welcome
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