Name of the firm

NOTES FORMING PART OF FORM 3CD

FOR THE YEAR ENDING 31ST MARCH, 2020

For Clause 13(f):- Disclosure as per ICDS

1. ICDS- I ACCOUNTING POLICIES

The accounts are prepared on historical cost basis as a going concern following the
Mercantile system of accounting.
Accounting policies are consistent & in accordance with the generally accepted
accounting principles.

2. ICDS- II VALUATION OF INVENTORIES

Inventory is to be valued as follows:

3. ICDS- III Construction Contracts

The assessee is a wholesale trader and no construction contract is taken by the assessee
during the year.

4. ICDS- IV Revenue Recognition

Revenue is aptly recognized as per ICDS IV.

5. ICDS- V Tangible Fixed Asset

Refer Annexure ‘A’ of Form 3CD.

6. ICDS VII Government Grants

No government grant is received by the assessee.

7. ICDS IX Borrowing Costs

Borrowing costs that are directly attributable to the acquisition, construction or

production of a qualifying asset are capitalized as part of the cost of that asset

Borrowing costs not capitalized are debited to profit and loss account considering their
revenue nature
The borrowing costs for inventories that require a period of twelve months or more to
bring them to a saleable condition are added to the cost of that inventory.

Borrowing cost Capitalized during the Year - Nil

 8. ICDS X Provisions, Contingent Liabilities and Contingent Assets
Provisions involving substantial degree of estimation in measurement are
recognized when there is a present obligation as a result of past events and it is
probable that there will be an outflow of resources. As per the information and
explanation provided by the assessee, there is no contingent asset and contingent
liability during the year.

As per our Report Annexed

For Name of the firm For Name of the CA Firm
Chartered Accountants

Name of the proprietor Name of the CA

(PROPRIETOR) (PROPRIETOR/PARTNER)
M.NO. :
Place: -
Date: -