| Question And Answer | |
|---|---|
| Subject: | ICDS vs IND AS |
| Category: | Income-Tax |
| Querist: | bs |
| Answered by: | Advocate Shashi Ashok Bekal |
| Tags: | Book profit, ICDS |
| Date: | February 17, 2023 |
when profit as per IND AS is more than one worked out under ICDS
which will affect book profit under MAT ?
There is a codified law under section 115JB of the Act to compute Minimum Alternate Tax. Book profits have to be worked out as per the methods prescribed under the Companies Act, 2013 and not ICDS.
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