https://www.taxtmi.com/circulars?id=53305 The Finance (No.2) Act, 2014 extended the holding period for non-equity mutual fund units to qualify as long-term to over thirty-six months. Rollovers of closed-ended Fixed Maturity Plans under the specified rollover and disclosure regime do not create a new scheme and therefore do not amount to a transfer; no capital gains arise at the time of rollover. Capital gains will arise only upon redemption or when a unitholder opts out and effects transfer, at which point the amended holding-period rule determines short term or long term character. en-us Thu, 09 Apr 2015 00:00:00 +0530 Fri, 10 Apr 2015 11:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=53305 The Finance (No.2) Act, 2014 extended the holding period for non-equity mutual fund units to qualify as long-term to over thirty-six months. Rollovers of closed-ended Fixed Maturity Plans under the specified rollover and disclosure regime do not create a new scheme and therefore do not amount to a transfer; no capital gains arise at the time of rollover. Capital gains will arise only upon redemption or when a unitholder opts out and effects transfer, at which point the amended holding-period rule determines short term or long term character. Circulars Income Tax Thu, 09 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/circulars?id=53305