https://www.taxtmi.com/news?id=13046 The Central Government may notify Income Computation and Disclosure Standards to be followed for computation of taxable income and disclosure of information for any class of assesses or any class of income; those standards govern taxable income computation and do not require maintenance of books of account on their basis. If income is not computed in accordance with the notified standards, the assessing authority may determine income using the assessment mechanism applicable to cases where computations are not in compliance with the standards. en-us Sun, 13 Jul 2014 16:29:03 +0530 Sun, 13 Jul 2014 16:29:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=13046 The Central Government may notify Income Computation and Disclosure Standards to be followed for computation of taxable income and disclosure of information for any class of assesses or any class of income; those standards govern taxable income computation and do not require maintenance of books of account on their basis. If income is not computed in accordance with the notified standards, the assessing authority may determine income using the assessment mechanism applicable to cases where computations are not in compliance with the standards. News - Sun, 13 Jul 2014 16:29:03 +0530 https://www.taxtmi.com/news?id=13046