Which transaction or securities are not covered in the ambit of ICDS-VIII?

Ans. This ICDS shall not deal with the following:

(a) Basis for recognition of interest and dividends on securities (dealt with ICDS IV - Revenue Recognition).

(b) Securities held by the person engaged in the business of insurance.

(c) Securities held by mutual funds, venture capital funds, banks and public financial institutions formed under an Act or so declared under the Companies Act.