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

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.

Dated: 8-9-2017