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The Income Computation and Disclosure Standards (ICDS), which played a key role in improving the country’s ranking by over 50 notches in ease of paying taxes in the World Bank report, have not gone down well with industry even as the authorities say that these create consistency in computing taxable income.
In fact, the Chamber of Tax Consultants has filed a writ petition against the ICDS in the Delhi High Court, challenging the constitutional validity of these standards. The court has heard the matter and reserved the judgment.
The ICDS have 10 standards, which basically advance some income
In fact, the Chamber of Tax Consultants has filed a writ petition against the ICDS in the Delhi High Court, challenging the constitutional validity of these standards. The court has heard the matter and reserved the judgment.
The ICDS have 10 standards, which basically advance some income
