Income Computation & Disclosure Standards

DIVISION IFinancial Reporting Framework & ICDSChapter 1: Financial Reporting Framework — An IntroductionChapter 2: Income Computation and Disclosure Standards — An IntroductionChapter 3: Rationalisation of Provisions of Section 115JB in line with Indian Accounting Standard (Ind-AS)DIVISION IIIncome Computation & Disclosure StandardsChapter 1: Income Computation & Disclosure StandardsA.: Income Computation and Disclosure Standard I relating to accounting policiesB.: Income Computation and Disclosure Standard II relating to valuation of inventoriesC.: Income Computation and Disclosure Standard III relating to construction contractsD.: Income Computation and Disclosure Standard IV relating to revenue recognitionE.: Income Computation and Disclosure Standard V relating to tangible fixed assetsF.: Income Computation and Disclosure Standard VI relating to the effects of changes in foreign exchange ratesG.: Income Computation and Disclosure Standard VII relating to government grantsH.: Income Computation and Disclosure Standard VIII relating to securitiesI.: Income Computation and Disclosure Standard IX relating to borrowing costsJ.: Income Computation and Disclosure Standard X relating to provisions contingent liabilities and contingent assetsChapter 2: Form 3CD Clause by Clause AnalysisDIVISION IIIChapter 1: Income Computation and Disclosure Standards vis-à-vis Judicial PrecedentsChapter 2: Schedule ICDS as appearing in Forms ITR 4 5 and 6 and Form 3CD (Revised)Chapter 3: ICDS (Revised) v ASChapter 4: ICDS (Revised) v Ind ASAppendix 1: Tests for Distinction between Shares held as Stock-in-Trade and Shares held as InvestmentAppendix 2: Chargeable as — Distinction between Shares held as Stock-in-Trade and Shares held as Investments — Tests for such a DistinctionAppendix 3: Issue of Taxability of Surplus on Sale of Shares and Securities — Capital Gains or Business Income — Instructions in Order to Reduce LitigationAppendix 4: Clarifications on Income Computation and Disclosure Standards (ICDS) notified under section 145(2) of the Income-tax Act 1961