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Reversal of ITC Query

Kindly see the attached file... Reversal of ITC S.18(4) r/w Rule 44 Calculation query: I'm getting 6 months instead of 5 (5x12=60mths)-[(4x12)+6=54mths] 

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Deepak Gupta

Deepak Gupta

CA Inter

1K+

13-Oct-20

44

Answers (3)

You have not considered 15 days


Suraj Lakhotia

Suraj Lakhotia

Admin

14-Oct-20

But sir it says that ignore part of the month... or does it mean that we have to ignore part of month in the balance useful life and not at the time of calculation or from the period of already used...?


Thread Starter

Deepak Gupta

Deepak Gupta

CA Inter

1K+

14-Oct-20

Ignored for balance.


Suraj Lakhotia

Suraj Lakhotia

Admin

14-Oct-20

All the Best
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