TaxTMI Login
AI OCR ✕Convert scanned orders, printed notices, PDFs and images into clean, searchable, editable text within seconds. Starting at 2 Credits/page
Try Now →Just a moment...
AI OCR ✕Convert scanned orders, printed notices, PDFs and images into clean, searchable, editable text within seconds. Starting at 2 Credits/page
Try Now →By creating an account you can:
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All TMI Notes
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All TMI Notes
Note
Bookmark
Share
Don't have an account? Register Here
Manual - Introduction - Income computation and disclosure standards (ICDS)
These ICDS are sub-ordinate provisions to the parent Income Act, 1961 and have been issued in exercise of powers u/s 145(2) which does not have overriding effect.
Therefore, CBDT has rightly clarified that, ICDS provides general principles for computation of income. In case of conflict, if any, between the provisions of Rules and ICDS, the provisions of Rules, which deal with specific circumstances, shall prevail.
Income Computation standards: specific tax-rule provisions prevail over general ICDS when the two provisions conflict. ICDS are subordinate general principles for computing income and do not override specific provisions of the Income-tax Rules; where a specific rule governs a particular circumstance, that rule prevails over any inconsistent ICDS guidance.
of Press 'Enter' after typing page number.
TaxTMI 
TaxTMI 