Shobhit Jain (CA) (4896 Points)
26 August 2017
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177855 Points)
Replied 26 August 2017
Section 2 (42A) of the Act has been amended with effect from assessment year 2018-19 so as to reduce the period of holding from the existing 36 months to 24 months in case of immovable property, being land or building or both, to qualify as long term capital asset.
No effect or amendment in other sections like Sec.54, 54F, 54B etc......
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177855 Points)
Replied 26 August 2017
Refer: https://www.tax mann.com/Budget-2016-17/budget/t81/amendments-related-to-capital-gains.aspx
rama krishnan
(12239 Points)
Replied 26 August 2017
CAclubindia
