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366 days or 365 days for A.Y.2016-17?

IPCC 373 views 3 replies
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ipcc
292 Points Posted on 17 October 2016
how many days should i use in ipcc tax paper as icai has used 366 days in practice manual?
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On 17 October 2016 at 14:16 Report
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Chartered Accountant
8487 Points Posted on 17 October 2016
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.
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On 17 October 2016 at 19:11
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Chartered Accountant
8487 Points Posted on 17 October 2016
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.
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On 17 October 2016 at 19:13
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ipcc
292 Points Posted on 17 October 2016
thank u very much
3 Reply
On 17 October 2016 at 21:57


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