TaxTMI 
TaxTMI 
TaxTMI 
Dear Sir,
When it would be with effect of Section 43 CA & 56 of Income Tax act. In Budget says 1st April,2014 whether it is A.Y or F.Y
Regards,
Krishna.B
Section 43CA & 56 New Provision in Budget
krishna besta
Clarification Issued: Effective Date for Income Tax Act Sections 43CA and 56 is April 1, 2014, for Financial Year. A query was raised regarding the effective date of Sections 43CA and 56 of the Income Tax Act as mentioned in the budget, questioning whether the date refers to the Assessment Year (A.Y) or the Financial Year (F.Y). The response clarified that the effective date for these provisions is April 1, 2014. (AI Summary)