Effect of ICDS on computation of income

[RAJEEV JAIN]

A partnership firm has Increase in Profit due to ICDS. For Eg due to ICDS profit will increase by ₹ 100000 then will partnership firm will pay tax on such ₹ 100000 or will it be just disclosed in Tax Audit Report and Other Information in ITR form.

[DR.MARIAPPAN GOVINDARAJAN]

Whether you have got clarified in the above said issue? If not please inform.

AI Summary

ICDS adjustment increases profit: question whether the increase is taxable or only requires disclosure in tax filings. A partnership firm asked whether an upward ICDS adjustment that increases profit should be included in taxable income or only disclosed in tax audit schedules and the ITR's other information; the forum reply posed a clarification query and gave no substantive guidance on tax treatment or compliance.