"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
Last updated: 12 October 2016
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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.
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