• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Home
  • DOPT ORDERS 2020
  • FinMin Orders 2020
  • Railway Orders 2020
  • Contact Us

7th Pay Commission Latest news

Central Government Employees News

  • DOPPW Orders
  • 7th Pay Commission
  • Dearness Allowance
  • Dearness Relief
  • CSD Price List
  • Defence
    • Defence Pension
You are here: Home / Income Tax / Income Computation and Disclosure Standards (ICDS) notified under Section 145 (2) of the Income -tax Act, 1961 to be applicable from 1stApril, 2016

Income Computation and Disclosure Standards (ICDS) notified under Section 145 (2) of the Income -tax Act, 1961 to be applicable from 1stApril, 2016

July 7, 2016 pcadmin Leave a Comment

Income Computation and Disclosure Standards (ICDS) notified under Section 145 (2) of the Income -tax Act, 1961 to be applicable from 1stApril, 2016

Vide Notification No. SO 892 (E) dated 31st March, 2015, the Central Government notified 10 Income Computation and Disclosure Standards (ICDS). These ICDS are applicable from 1.4.2015 i.e. previous year 2015-16 (Assessment Year 2016-17). Subsequent to notification of the ICDS, a number of representations were received which were examined by an Expert Committee. The Committee has recommended amendments to the notified ICDS and also issuance of clarification in respect of certain points raised by the stakeholders.

The revision of ICDS/issue of clarifications as recommended by the Committee, is under consideration. The revision of the Tax Audit Report is also being made for ensuring the compliance with the provisions of ICDS and for capturing the disclosures mandated by the ICDS.

Some of the tax payers might have filed their return of income and obtained Tax Audit Report without incorporating the compliance with the ICDS and related disclosures in the absence of the revised Tax Audit Report. Considering these facts, it has been decided that the ICDS shall be applicable from 1.4.2016 i.e. previous year 2016-17 (Assessment Year 2017-18). The notification to this effect will be issued shortly.

Source : PIB

Filed Under: Income Tax

Also Read

Ceiling of Rs. 5 Lakh on Subscription in General Provident Fund

Ceiling of Rs. 5 Lakh on Subscription in General Provident Fund

May 23, 2023 By pcadmin Leave a Comment

Ceiling of Rs. 5 Lakh on Subscription in General Provident Fund Government of West BengalFinance DepartmentGroup-J Memo No: 027-F (J) WB Date: 04/05/2023 MEMORANDUM Subject:- Ceiling of Rs. 5 Lakh on subscription in General Provident Fund (West Bengal Services) in a financial … [Read More...] about Ceiling of Rs. 5 Lakh on Subscription in General Provident Fund

GISS, 1987 – Table of Benefits upto July, 2023

GISS, 1987 – Table of Benefits upto July, 2023

May 23, 2023 By pcadmin Leave a Comment

GISS, 1987 – Table of Benefits upto July, 2023 GOVERNMENT OF WEST BENGALFINANCE DEPARTMENTAUDIT BRANCH No. 031-F(J) W.B. Date: 11.05.2023 MEMORANDUM SUBJECT: State Government Employees Group Insurance Scheme, 1987 – Table of Benefits under Savings Fund for the year of cessation of … [Read More...] about GISS, 1987 – Table of Benefits upto July, 2023

Disbursement of Railway Pension through Private Sector Banks

Disbursement of Railway Pension through Private Sector Banks

May 23, 2023 By pcadmin Leave a Comment

Disbursement of Railway Pension through Private Sector Banks Government of IndiaMinistry of RailwaysRailway Board RBA No. 16/2023 No. 2010/AC-II/21/10/Pt IV New Delhi, dated 15.5.2023 Pr.Financial Advisors,All Zonal Railways & PUS Pr. Chief Personnel Officers,All Zonal Railways … [Read More...] about Disbursement of Railway Pension through Private Sector Banks

Clarification on calculation of ex-gratia for the employees of CPSEs following IDA

Clarification on calculation of ex-gratia for the employees of CPSEs following IDA

May 18, 2023 By pcadmin Leave a Comment

Clarification on calculation of ex-gratia for the employees of CPSEs following IDA W-02/0029/2021-DPE (WC)Government of IndiaMinistry of FinanceDepartment of Public Enterprises Public Enterprises Bhawan,Block 14, Lodi Road,New Delhi 110003.Date: 16.5.2023 CORRIGENDUM Subject: … [Read More...] about Clarification on calculation of ex-gratia for the employees of CPSEs following IDA

TN Govt increases Rate of Dearness Allowance by 4% from 1st April 2023

TN Govt increases Rate of Dearness Allowance by 4% from 1st April 2023

May 18, 2023 By pcadmin Leave a Comment

TN Govt increases Rate of Dearness Allowance by 4% from 1st April 2023 Government of Tamil Nadu2023 MANUSCRIPT SERIES FINANCE [Allowances] DEPARTMENTG.O.(Ms).No.142, Dated:17th May 2023.(Sobakiruthu, Vaigasi-03 , Thiruvalluvar Aandu 2054) ABSTRACT ALLOWANCES - Dearness Allowance - … [Read More...] about TN Govt increases Rate of Dearness Allowance by 4% from 1st April 2023

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

All About Pension

All about Pension

Latest DOPT Orders

Grant of fund for modernisation of Non-Statutory Departmental Canteen located in Central Government Offices

General Election 2023: Grant of Paid holiday on day of Poll for General Election in Karnataka, 2023

Reimbursement of Children Education Allowance (CEA) to Central Government servants having Divyang Children

Addendum for early closure of all the offices falling in the premises of Parliament House & Rashtrapati Bhawan in c/w forthcoming Republic Day

Early Closure of Offices in connection with Republic Day Parade/Beating Retreat Ceremony/At Home Function during January, 2023

Latest Finmin Orders

CGEGIS 1980 – Tables of Benefits for the savings fund for the period from 01.04.2023 to 30.06.2023.

Dearness Allowance to Central Government employees effective from 01.01.2023 – FINMIN Order

Compendium of Instructions regarding grant of House Rent Allowance to Central Government employees – FINMIN

CGEGIS 1980: Table of Benefits of saving funds from Oct to Dec 2022

Non-Productivity Linked Bonus (ad-hoc bonus) to Central Government Employees for 2021-22

Latest Railway Orders

Disbursement of Railway Pension through Private Sector Banks

Dearness Relief to Railway pensioners from Jan 2023

State Railway Provident Fund Interest Rate from April 2023 to June 2023

Timely verification of Caste/Community Certificates – Railway Board Order

Timelines for completion of APAR to Railway Employees for 2022-23

Categories

Copyright © 2023