Recognition of revenue: guidance on when sales, service receipts and returns on resources qualify as taxable revenue.

ICDS IV addresses the recognition of revenue arising from a taxpayer's ordinary activities, including revenue from the sale of goods, rendering of services, and the use of resources yielding interest, royalties or dividends; it prescribes that such receipts are recognised for tax purposes when the entity's performance obligations or entitlement to the inflows are established.

---

---

---