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of <h1>ICDS IV for AY 2016-17: Revenue Recognition for Goods, Services, and Resources; Withdrawn, but Transitional Provisions Applied</h1> The Income Computation and Disclosure Standard (ICDS) IV for AY 2016-17, now withdrawn, outlined revenue recognition for business profits or income from other sources, excluding book maintenance. It addressed revenue from goods sales, service rendering, and resource use yielding interest, royalties, or dividends. Revenue from goods is recognized upon transferring ownership risks and rewards, while service revenue uses the percentage completion method. Interest accrues over time, royalties per agreement terms, and dividends as per the Act. Transitional provisions applied to transactions before April 2015. Disclosures required details on unrecognized revenue, service transaction revenue, completion methods, costs, advances, and retentions.
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