Ease of doing business: What is tax accounting standard ICDS?

Under ICDS, profits have to recognised once 25% of the completion stage is achieved in construction contracts

The Income Computation and Disclosure Standards (ICDS) that improved the country's ranking (by the World Bank) over 50 notches in ease of paying taxes are an accounting standard for the purpose of income tax. It advances some income and postpones some expenses to arrive at the profitability of companies. 

Earlier, tax accounting was done on a conservative basis, to recognise income as and when it arose. For instance, a company engaged in construction activity was allowed to show income from a contract after a point when the construction had reached a specified level. Say, after four years. This is called the