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of <h1>ICDS Provisions Apply to Presumptive Taxation for Partnerships in Construction under Section 44AD, Says CBDT Circular No. 10/2017.</h1> The Central Board of Direct Taxes (CBDT) clarified through Circular No. 10/2017 that the provisions of the Income Computation and Disclosure Standards (ICDS) apply to individuals or entities using a presumptive taxation scheme. For instance, when calculating the presumptive income of a partnership firm under section 44AD, which earns from construction activities, the ICDS provisions on Construction Contract or Revenue recognition must be applied to determine receipts or turnover.
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