ICDS Not Applicable for November 2016 Exam: ICAI
“Students appearing in the November 2016 examination may note that Income Computation and Disclosure Standards (ICDS) shall not be applicable. ICDS need not be applied for the computation of income or for answering application-based or knowledge-based questions [Final Paper 7: Direct Tax Laws & IIPCE Paper 4: Taxation], for the November 2016 examination. This is in view of the postponement of the applicability of ICDS to the assessment year 2017-18 and subsequent assessment years by CBDT by Notification No.S.O.3079(E) dated 29.9.2016. However, Students may note that the new ICDS would be relevant from the May 2017 examinations.