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Manual - ICDS III : Construction Contracts
As per ICDS III incidental incomes do not form part of contract revenue and shall be reduced from the contract costs. An example of incidental income is sale of surplus materials and the disposal of plant and equipment at the end of the contract. Incidental income for this purpose does not include incomes in the nature of interest, dividends and capital gains. These incomes would be taxed separately in accordance with the applicable provisions of the Act.
Incidental income in construction contracts: deduct from contract costs; investment returns taxed separately under income provisions. Incidental incomes arising from construction contracts are not part of contract revenue and must be reduced from contract costs; examples include sale of surplus materials and disposal of plant and equipment. Income in the nature of interest, dividends and capital gains is excluded from incidental income and is taxed separately under applicable law.
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