Limits for this equality is:
1) y must be a positive integer.
2) x must be integer or the mod function wouldn't work.
3) If x is less than 0, x need not be larger than y and the equality works.(If you know how to do mod functions with negative numbers. Example: -2 mod 7 = 5)
4) \(\lfloor x\rfloor\) means the nearest integer smaller than x.