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The Finance Ministry has sought public comments as it tries to rework the Income Computation and Disclosure Standards (ICDS) that was notified earlier this year. “After notification of ICDS, it has been brought to the notice of the Central Board of Direct Taxes by the stakeholders that certain provisions of ICDS may need further clarification or guidance for proper implementation,” said a Finance Ministry release on Thursday, adding that it has set up an expert committee to look into the issue. It has sought public comments by December 15.
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