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of <h1>ICDS Applicable to Mercantile System Users in Business; Not for Cash System or Non-Audited Individuals and HUFs.</h1> ICDS applies to individuals and entities following the mercantile system of accounting, regardless of income level. It does not apply to those using the cash system or to individuals and Hindu Undivided Families (HUFs) whose accounts are not subject to audit under section 44AB, which is necessary only for those engaged in business or profession. Therefore, ICDS is applicable to individuals or HUFs only if they are conducting business or profession. ICDS does not apply if their income is solely from 'Income from Other Sources,' even if they use the mercantile system for such income.
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