Applicability of section 56(2)(vii)(b)

Nitin Banthia (CA Job) (162 Points)

18 June 2013  

From what date is the above mentioned section applicable? Many a books have claimed the applicability date to be AY 2014-15. The Finance Act mentions the applicability date to be 1-Apr-2014. Does the date mentioned in the Finance Act means Calender date untill otherwise mentioned?