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of <h1>ICDS IX Clarifies Borrowing Costs Treatment, Aligns with AS 16 & Ind AS 23; Details on Capitalization & Disclosure</h1> ICDS IX addresses the treatment of borrowing costs for income computation and disclosure, aligning with AS 16 and Ind AS 23. It excludes costs related to owners' equity and preference share capital. The standard focuses on when borrowing costs should be capitalized, including interest, commitment charges, and finance charges from finance leases. Qualifying assets include tangible and intangible assets, with inventories requiring a 12-month qualifying period. Borrowing costs are capitalized until assets are ready for use, with specific formulas for general borrowings. Disclosure requirements include accounting policies and capitalized borrowing costs. Differences from AS 16 may affect taxable income.
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