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    Question

    What is the primary purpose of the Income Computation

    and Disclosure Standards (ICDS)?
    A To replace accounting standards used for financial reporting Correct Answer Incorrect Answer
    B To standardise the computation of taxable income under the Income Tax Act, 1961 Correct Answer Incorrect Answer
    C To provide exemptions from income tax Correct Answer Incorrect Answer
    D To regulate how books of accounts are maintained Correct Answer Incorrect Answer

    Solution

    The correct answer is B

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