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366 days or 365 days for A.Y.2016-17?
how many days should i use in ipcc tax paper as icai has used 366 days in practice manual?
Replies (3)
Generally, it's specified in the question paper about the no. of days to be taken for calculation. As year 2016 is a leap year, ICAI PM considered it as 366 days as the A.Y.2016-17 means computation for P.Y.2015-16 which includes the month February.
You can also specify your assumption in the answer regarding the no.of days taken for calculation purpose if nothing is specified in the question.
thank u very much
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