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