"Students appearing in November, 2016 examination may note that Income Computation and Disclosure Standards (ICDS) shall not be applicable. ICDS need not be applied for computation of income or for answering application based or knowledge based questions [Final Paper 7: Direct Tax Laws & IIPCE Paper 4: Taxation], for November, 2016 examination. This is in view of the postponement of the applicability of ICDS to the assessment year 2017-18 and subsequent assessment years by CBDT by Notification No.S.O.3079(E) dated 29.9.2016. However Students may note that the new ICDS would be relevant from May, 2017 examinations.”
ICDS not applicable for November, 2016 Exam
News posted by
CCI News Desk
Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.
Recent News :
- CBIC Issues New GST Notifications: RCM, Registration and TDS Changes from 1st Nov 2026
- CGST Rules 2026 Amended: E-Invoicing Scope Expanded from 1st January 2027
- CBIC Clarifies GST Demand Rules: No Mechanical Fraud Allegations or Unreasoned Orders
- GST Registration New Rules 2026: CBIC Bars Unnecessary Queries by Officers
- Finance Act 2026: Sections 153-155 to Come into Force from 1st November
- India May Cut 12.5% LTCG Tax on Equities Amid FPI Outflows
- PM Modi's Rs 12 Lakh Tax Relief Remark Sparks Debate Over Taxpayers' Rights
- MCA Extends FY 2025-26 Annual Filing Deadlines: AOC-4 Due by 31st Dec 2026, MGT-7 by 31st Jan 2027
- CBDT Clarifies Tax Treatment of BSNL and MTNL VRS-2019 Compensation Under Section 10(10C)
- New RBI Export Rules Raise Paperwork Concerns for Freelancers and Small Businesses
Popular News
- Tax Audit Extension Demand to 31st Oct 2026 Amid GST Relief and Court Rulings
- PM Modi's Rs 12 Lakh Tax Relief Remark Sparks Debate Over Taxpayers' Rights
- Central Excise Duty Revised to Rs 2.5 and Rs 8.5 Per Litre from 16th October 2026
- CBDT Clarifies Tax Treatment of BSNL and MTNL VRS-2019 Compensation Under Section 10(10C)
- TDS Challan for FY 2025-26 Valid for TY 2026-27 Under Cross-Year Utilisation Rules
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
