Capital asset Short term or long term - period of holding in case of a unit or units, the period for which the the unit or units in the consolidating plan of the mutual fund scheme were held by the assessee in a Certain Case - Budget 2017-18 w.e.f. AY 2018-19

Clause - 003 - Amendment of section 2.

THE FINANCE BILL, 2017

The existing provisions contained in clause (42A) of the said section defines the expression "short-term capital asset"

It is proposed to amend clause (i) of the said Explanation to insert clause (hg) so as to provide that in the case of a capital asset, being a unit or units, which becomes the property of the assessee in consideration of a transfer referred to in clause (xix) of section 47, there shall be included the period for which the unit or units in the consolidating plan of the mutual fund scheme were held by the assessee.

Dated: 2-2-2017