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When does an assessee is required to make disclosures of fundamental accounting assumptions as per ICDS-I.

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Dated: 8-9-2017

Manual - ICDS I : Accounting Policies

ICDS provides that if the fundamental accounting assumptions of Going Concern, Consistency and Accrual are followed, specific disclosure is not required. If a fundamental accounting assumption is not followed, the fact shall be disclosed. Revised Form 3CD of tax audit report provides necessary columns for such disclosures.

 

 

 
 
 
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