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of <h1>ICDS Applicable to Presumptive Taxpayers u/ss 44AD, 44ADA, 44AE; CBDT Clarifies in Circular No. 10/2017.</h1> Income Computation and Disclosure Standards (ICDS) apply to taxpayers under presumptive tax schemes such as sections 44AD, 44ADA, 44AE, 44BB, 44BBA, and 44BBB, as there is no specific exclusion. When tax is computed based on gross receipts or turnover, ICDS on revenue recognition is applicable to determine these amounts. This is clarified in Circular No. 10/2017 by the Central Board of Direct Taxes (CBDT), which provides guidance on applying ICDS under section 145(2) of the Income-tax Act, 1961.
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