revised ICDS are applicable to all assessees other than an individual or a Hindu undivided family who is not required to get his/her accounts of the Previous Year (PY) audited in accordance with the provisions of Section 44AB of the Income-tax Act, 1961 (IT Act).
Also ICDS is only applicable to assessee who maintain their Books of account on Merchentile Accounting system. its not applicable in case assessee follows cash system of accounting.
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