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Critical Issues into Audit & CDs I & II CA. STROLLER OD JAIN FCA, FCS, CMA, LL.B, LIMA, DISA Shared at Lax me Nagar Study Circle of NRC of CAI 27th August 2017CA. Framed JainLEGISLATION FOR A 2017201718
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What is icds i amp ii?
ICDS i and ii refer to the Income Computation and Disclosure Standards issued by the Central Board of Direct Taxes.
Who is required to file icds i amp ii?
All assesses who are required to maintain books of account under the Income Tax Act are required to comply with ICDS i and ii.
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ICDS i and ii have specific guidelines for computation and disclosure of income which need to be followed while filling them out.
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The purpose of ICDS i and ii is to standardize the method of computation and disclosure of income for tax purposes.
What information must be reported on icds i amp ii?
ICDS i and ii require reporting of income from different heads and other financial information as per the guidelines.
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