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of <h1>ICDS may cause reporting differences with Ind-AS; auditors must certify income compliance per amended 3CD form.</h1> Income computation and disclosure standards (ICDS) may cause significant differences between figures reported under Accounting Standards (Ind-AS) and those under ICDS, potentially affecting income in future years. Auditors must certify that total income computations comply with ICDS provisions, as per the amended 3CD form. The Institute of Chartered Accountants of India (ICAI) suggests preparing a parallel profit and loss account and balance sheet based on ICDS to address these differences. Taxpayers are advised to reconcile these with their standard financial statements to ensure all necessary adjustments under ICDS are accounted for.
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